f1sh4u

Ive got a couple of questions i would like to throw at you guys:

Firstly, When selling a car (mines a bit of an older one) what rights does the buyer have if it breaks down or they find something wrong with it after the sale. Not that i am selling my car knowing there are faults with it but i suppose you never know if its going to break. Oh and does it effect thier rights if you put "sold as seen" on the reciept?

Secondly, If they pay you part cash part cheque and you hand over the keys. Where do you stand in getting back the money/car if the cheque bounces?

Cheers

davegtt

I wouldnt be handing over anything of any value for a cheque until its cleared, if they have cash in the acct ask them for a bankers draft, at least its a gaurenteed clearance.

the buyer basically has no rights what so ever to come back at your with, just give him a receipt saying sold car reg number etc sold as seen and both sign it... job done.

Chris L

f1sh4u - I would have a read of this this page on the CAB website. It explains the buyers rights when buying a car privately.

Chris

f1sh4u

Ok, thanks for the info...

My problem is on monday i took some cash and a cheque, told the chap that he couldnt have the car untill the cheque had cleared, the bank told me this would be thursday so i told him he could have it on thursday. Now i have phoned the bank up to check on the cheque and they said that the funds are available to me but that doesnt mean that the cheque has cleared, they wont know that for 6 working day So now im stuck wondering if I should give the chap his car ot tell him he now has to wait until next tuesday.

OllyK

WOuld suggest that you tell him that the funds haven't cleared yet and you can't release the car yet. Did you not consider paying to rush the clearance through??

f1sh4u

No, i didnt know that you could?

Tiggs

if the cheque is not clear then you dont have the cash...soooooooooooooo simple.

every car i have bought i have done so with a bank transfer (£20 for same day) why everyone doesnt do this is beyond me..makes life so simple.

T

ps- if it falls apart after he buys it its tough luck...not your car/not your problem.

davegtt

think u can pay £5 to get a cheque to clear quicker but still pointless IMO, might as well just do a bankers draft or as tiggs suggested a bank transfer

f1sh4u

The bank were really unhelpful, he said that they can never ever say that a cheque has 100% cleared (i dont know how or why they cant) all he said was that today his bank (the buyer) have decided to pay or not, so then they post the cheque back to my bank (by royal mail) stating if it is going to be paid or not.

So when they say a cheque clears in 4 days its nonsense, it may do if its your cheque, but not if you are recieving it

davegtt

thought that was common knowledge tbh, banks always hold onto money for a good couple of days to make their interest on it

f1sh4u

lol yeah

Arrrgh.... im pulling my hair out now, i wanted this sorted today. Suppose my only option is to phone him up and tell him he cant have the car until tuesday.

davegtt

go for it, or ring him up and say look the cheque wont fully clear til tuesday u can wait til then OR you can cancel the cheque and do a same day bank transfer then he can take it away. sounds like a plan to me

Tiggs

if i was him i'd ask for my money back or a discount for being screwed around.

be aware

f1sh4u

What is the process on a same day bank transfer, do we have to go into his bank to carry out the transaction?

davegtt

should think you'd have to go in the bank yes, the other option again is too cancel the cheque and ask him to fetch the cash. bank shouldnt have a prob handing it over... if he cant wait til tuesday there are plenty of options, best of speaking to him first

f1sh4u

Just sopke to him... he wasnt too happy but he said he will wait until tuesday.

Im more p!ssed at my back for saying 4 working days when in actual fact its 6