Ch!lledBudwei2er

I have four people coming to look at the car in the next 48hr, and two of them are looking at purchasing the car if all goes well there and then.

So I was wondering what the deal with what payments I should accept?
Cash seems to be perfect, but how should I stand with the likes of cheques etc?

dann

As far as cheques are concerned take a cheque but you'll need to hold onto
the car untill it clears into your account. A bankers draft or building society cheque would be OK however, but these need to be arranged in advance. I like these as you can ring the bank while the chaps there to confirm its real and pukka.

dharbige

Banker's draft, or building society branch cheque are fine. The issuing bank will usually have a number you can call to verify that it's a valid cheque.
But personal cheques? Just say no.

Gangsta Smurf

Chilled ... if someone asks if they can pay you with a cheque and you decide to accept it - which I wouldn't advise anyway - make sure it has cleared into your account and shown on the bank's system before you let the car go!!

When I sold my car I insisted on physical cash in my hand, which I counted out before I let the guy drive away. Either that or a direct bank transfer into your account, which again must be cleared before you let the car go.

It probably would not happen but if anybody tries to get you to do it via an ESCROW account then refuse to accept point blank. Even though that will probably not happen just letting you know in any case!

The people coming round are prob totally genuine but you can never be too careful in a situation like this.

New_scooby_04

iTrader: (4)

Safest route for you is an E-money transfer: ether BACS which takes a few days to clear or there is another one called CHAPS which clears on the same day (I used this one)! There is a fee of around £15 which the buyer pays. Ask the buyer to check with his bank/building society.

DO NOT under any circumstances hand over the keys untill the money has cleared in your account and you should prepare a reciept for extra piece of mind!

Best of luck.

Dream Weaver

Cash only for me.

Tiggs

what do you sell? horse and carts? its 2004, who buys a car with cash?

TT or bank cheque or personal chq and wait for it to clear

davegtt

anything worth more than 2k you wouldnt wanna be dealing with cash surely? otherwise bankers draft is OK or balence transfer

mattsan

Last car i sold i got the lad to come down in the afternoon and took him to my bank to pay the cash in my account. No need to worry about dodgy cheques etc.....