What's the best way to safely sell a car privately?
Thank you for your excellent advice about selling a cheap car. I placed one or two cards in newsagents' windows and already I have several people firmly interested. I have never sold privately before and believe that you have sometimes replied to letters to people who have and it has turned sour. To avoid this outcome, your guidance, please, on ideal sequence of events:
1. Agree a price (in this case including tax, to end of July 2012). 2. Request a cheque to be cleared through one's account. Once it is cleared 3. Section 6 of V5C is completed; section 8 is signed by both parties; section 10 is retained by New Keeper; and I send that half of V5C including sections 6 and 8 to DVLA, getting a certificate of posting. 4. New Keeper takes vehicle, I having removed Hackney parking permit to gain a refund 5. DVLA to confirm changeover within a month, I keeping note in my diary to inform them if no such notification is received. Otherwise, transfer is complete. Does that seem all right to you?
1. Agree a price (in this case including tax, to end of July 2012). 2. Request a cheque to be cleared through one's account. Once it is cleared 3. Section 6 of V5C is completed; section 8 is signed by both parties; section 10 is retained by New Keeper; and I send that half of V5C including sections 6 and 8 to DVLA, getting a certificate of posting. 4. New Keeper takes vehicle, I having removed Hackney parking permit to gain a refund 5. DVLA to confirm changeover within a month, I keeping note in my diary to inform them if no such notification is received. Otherwise, transfer is complete. Does that seem all right to you?
Asked on 21 July 2012 by DB, via email
Answered by
Honest John
That's a good plan. But, since a relatively small amount of money is involved, I think best to go with the purchaser to a bank, have him withdraw the cash, then immediately pay the cash into your account. That is by far the safest way. If he has the cash on his person, still go with him to a bank, conclude the transaction in the bank and bank the money there and then. It's a little extreme, I know. You can decide for yourself whether to take cash on your doorstep or not. But the above makes sure no one can steal the money between getting paid and banking it.
Tags:
selling
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