Some one is coming to look at my car at the weekend and has asked me what my preferred method of payment would be?

My car is currently for sale around 8k so the prospective buyer is a little wary of carrying this amount in cash.

As far as I know my other options are building society counter cheque or a bankers draft. From my point of view I obviously need to make sure either of these funds would clear/are genuine, so what do you all do when you sell your cars as I beleive bankers drafts are not 100% cleared funds? Is this also the case with building society cheques?

Or should I just request cash?

Any advice appreciated.

Thanks

 

you can call his bank and give them the details on the draft or even just go to the bank with him once the deal is done and get the cash.

Alternatively he can do a bank transfer to your account in a branch for a fee of about £20 last time I looked. That will be same day but if he does it whilst you are there then you know it is legit.

It's quite scary letting your car go tho without having the actual cash in your hand!

 

cash

 

I would want cash before he takes it away.
Bank transfer might sound good but think it can be reversed if its found to be fraudulent.
Too many sucm bags about

If Iwhere you would knock a little off for cash make sure you get your money quick and easy

 

Thanks for your replies.

Because he is coming on Sat the banks around here are not open so that is another problem I would have had with getting things checked/paid in etc.

I have since spoken with the possible purchaser and he is now coming with cash

 

He obviously wants the car so don't let him haggle you down too far!

 

If he said he is bringing the cash dont let him knock you down at all

 

i would take cash only mate tbh !

 

Yeah, cash for me too

 

1) Cash
2) CHAPS payment done together while both of you at his bank, or CHAPS payment by him & wait till funds are confirmed in your acct.
3) Draft made at bank while both together, & given directly to you.

 

I'd prefer cash myself.

Some banks round West London where I am are open on a Saturday, some till 12 others till about 3.30. Maybe worth calling up a few to check.

 

#2 works for me and have bought the same way.

 

forgot to say:

Dont do CHAPS on weekend as wil not get processed till Monday & CHAPS can be cancelled before being actually processed. I just sold my 350z this weekend & bank advised me to take draft from them rather than do Chaps for this reason.