I'm selling my 2003 Toledo TDi SE (see classifieds here). It's been advertised for just less than a week, I've had a couple of casual calls, but this evening I had a call from a guy who seems seriously interested in the car. I'm in the North East, he's in Edinburgh, and the earliest he can get down to see it is Thursday. Because I work through the day, he can't be here until after 6 to view the car.
We've already negotiated on price on the phone, and he's asked me about payment should he wish to take the car away on Thursday. Having read the advice on this site (How to buy and sell cars on the left), I suggested I could only accept a Building Society cheque or cash, as it will be outside banking hours so I wouldn't be able to check a draft was genuine.
This is the first time I've sold a car privately, and whilst I realise I can make a little extra from this deal, I'm a little apprehensive. If the guy brings cash, I can't pay it in until the next day. Is there any way I can be sure it's genuine? He certainly sounds very much so on the phone, and clearly he's travelling a significant distance to view the car. The other issue is that I have a px offer from the dealer. I already discussed with them when I did the deal, and they are happy to honour the deal without the px. I am supposed to be picking up my new car on Friday, so it would certainly be short notice for them to do the paperwork. Should I delay picking up the car (which I don't really want to!)
Your advice very much appreciated!
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If it is a Building Society Cheque it is not really any better than a personal cheque - it could be equally stolen, forged or whatever.
However if you get him to fax / e-mail a scanned image clearly showing the Bank or Building Society you can then cotnact the branch and get some guarantee that they issued the cheque and whom it was made payable to etc. Still no guarantee that the cheque is Kosher but..........
Alternatively get the money paid to a 3rd party - a lawyer and the lawyer can hold the keys until the cheque clears.
Also take a photo of the buyer with his cheque and his car in the picture.
If he / she is a fraud he will run the proverbial mile.
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He has negotiated on price before he has seen the car? Would concern me a little.
And garage happy to continue with the deal without any px? No car for them to dispose of then? No wonder they are still happy for the deal to go on; sounds like they may have just sniffed a better profit margin?
Cash in your hand is good imo. But do you handle much cash? Can you identify problem notes? From a person who passes them on regularly maybe?(may not too in fairness). I assure you that some people are able to pass on large amounts of dodgy notes in a transaction and can keep you so busy you would never notice til you take them to your bank. beware if he makes you feel guilty counting the notes in your own time, 1 at a time.
I assume you are not an experienced seller so proceed with caution; it doesnt quite add up right imo.
Its another good reason why it can pay to deal with a reputable car sales site when buying or selling, admitedly it can cost a bit extra (their necessary profit margin) but you do get some guarantees.
Your car, your money, your choice.
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I know I'm a bit lax on this kind of thing, maybe too trusting, and I don't do it often.
But you could come from a postion of trust, and ask him to bring two photo IDs and a utility bill to prove he says who he says he is. Not infallible I know.
The risk of having already negotiated on the phone is that once he sees the car he may find something else "wrong" and expect a further discount...
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On an upbeat note!
remember if he has travelled a long way he wont want to go home without the car so don't budge on your price!
But also assumes he will have to bring someone else or a trailer; seems like a lot of aggro and expense for a car unless its a very unusual 1 ?
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Can't he meet you during the day (lunch hour ?) so that you could pay the cash into the bank while he is with you before you give him the keys?
Or wait till Sat. when the B/Society is open.
Too big a risk IMO to let him take the car without confirming first that the money/cheque/draft is genuine.
You don't know anything about this guy so proceed with caution.
Jacks
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I'm starting to get concerned! The guy is coming with a friend who is giving him a lift, so guess he would drive my car back to his home if he bought it. I have the potential to make £600, I guess only I can decide if it's worth it. Difficult though.
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I live near ripon. I have sold a car to a guy on the south coast who paid by bank transfer before coming. Lots of emails exchanged and lots of digital pics.
I bought a car from glasgow - met seller in edinburgh after catching train from york - asked in advance who he banked with (good guess its same bank as me RBOS) and paid by ringing bank (phone service out of hours) and doing a transfer which is instant between accounts with rbos (and presumably same for other banks), then handed him the phone to get confirmation.
In neither case were details sought. one was £10.5K one £7K .
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If you accept cash you risk having a knock at the door thirty minutes later and finding two 'heavies' who have called (by chance???) to relieve you of it.
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If you accept cash you risk having a knock at the door thirty minutes later and finding two 'heavies' who have called (by chance???) to relieve you of it.
I suppose this is possible but I've never heard of it. Has it happened to anyone in the BR? Sounds a bit paranoid to me or am I too trusting?
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Cash, cash and cash.
Take a half-day off work, meet early afternoon, drive to a branch of your bank in separate cars, take his cash at the counter (not before) and pay it into your account, hand him the V5, keys and receipt, keep a copy of the receipt. Taxi home.
Has he really agreed a price over the 'phone?
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If your handling a lot of cash, pop to Staples etc and pick up a note checker for about 20 quid - its quick and easy to use coming with instructions on what to look for. Ive taken 10 grand in cash using this system and I did pick out one dumb note which the buyer obviously didnt know about but was happy to replace. On any car of value, its so worth it.
Id always go for cash, every single time.
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Not bad advice if you dont handle much cash; but I have seen notes that have beaten these checkers.
You cant beat experience of cash for the feel of a note, and the print (especially on the back).
If doubtful, exchange the cash, keys and v5 at a bank where they will tell you if any notes are bad. Any body handing over notes he knows are dodgy will not go the bank to do it; so just decline his cash!
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