salsa-king

I'm looking at selling one of my car's... now if someone comes with cash... on a weekend (Saturday)

what's the best way to check the money in case it's fake notes...

any other things I should look at doing..... ie: photo copy their diving license etc??


any advice would be great.

Bubba po

Get an ultraviolet light -they're cheap from B&Q - real notes are unmistakable under it.

AbbasSTI

iTrader: (37)

I was in a similar situation a few years back but on a Sunday, so no banks open at all. If you can get hold of a money checker from someone, keep in mind they don't work with pinkies (£50's). I would take the buyer and cash to a casino and ask for chips, then cash it in. (only if you had no other options)

scud8

iTrader: (1)

In the past I've always played hardball and refused to release a car until the money was safe in my bank account. When I sold my first Scooby back in 1999 some guy turned up one evening with £14.5K in small notes, but I'd made it clear beforehand that I wasn't going to release the car so he was happy to come back the following day to get it.

I can appreciate your buyer may not be so accepting if he's travelling any distance. If he's coming on a Saturday morning could you not do a quick trip to your bank to deposit the cash immediately? If not, it may come down to how much you trust him.

zip106

Don't sell it on a weekend?

EddScott

Can you not just do a bank transfer online?

If you both agree to the sale, he goes online and transfers the money to your bank account. You give him your bank account and sort code (there isn't really anything anyone can do with these things and we hand them over regularly without even realising)

musso2010

I sold a car to a german guy. I was worried about him paying me in duff notes, so when he came to view the car and gave the thumbs up, i brought out my laptop and he transfered the money into my account. Job done.

Snazy

When I sold the scooby the guy turned up with £13k cash lol, went to the local bank, he deposited in my account, job done. Would not have done it any other way .

urban

iTrader: (1)

Yep - I'd go with an on-line transfer.
In this day and age, most people will have internet banking
And if they don't, they will have a friend/family member that does.

mart360

When we bought the wifes car a few weeks ago, we turned up with cash,

The seller dint even count it, he was happy to accept the money was correct & legit after all he had our address, and car registration number

He felt it was down to integrity


Mart

subaru slim

iTrader: (1)

The way to tell most notes is to run your finger over the bank of England at the top of the note should be a raise. Surface

Gear Head

iTrader: (2)

I have been paid by cash, cheque and bank transfer.
With cash, I always count the cash, check it and then release the car. Never had a problem.

joz8968

iTrader: (13)

If the buyer is genuine, they should have no truck with you holding onto the car for 3 days or so, until funds have cleared into your account.

If he/she argues or is restless/annoyed/fidgety at that suggestion, I'd personally tell he/she to do one, TBH.

hodgy0_2

I suspect nothing is truly safe, even "cleared" funds (either cash or direct transfer)

if the authorities/banks suspect the transaction fraudulent or laundered money (after the event) they would take the money back out of your account.

Gear Head

iTrader: (2)

In all honesty, if I paid cash for a car, I would be pretty miffed if they wouldn't release the car for 3 days.
It's cash and it is not hard to tell if it real or not.

joz8968

iTrader: (13)

I don't agree chris (sorry).

If the buyer has half a brain in his head, then he would 'see' the situation from the seller's point of view, and be prepared to hang on.

If not, then he would need to grow up sharpish lol.

hodgy0_2 has it correct.

Jay m A

iTrader: (2)

I have sold cars for cash a few times, never had a problem - all on a weekend.

Its pretty obvious before you see the cash whether the buyer is genuine or not - even so I always tell them I'm going to count it all and do so in front of them.

I suppose I'm lucky that I've never been in a situation where I felt I had to back out of a sale on 'dodgy geezer' grounds!

what would scooby do

Banks open on a saturday, you can pay into your account from other banks IIRC. For a small fee.

Jay m A

iTrader: (2)

Sorry Joz I'm with Chris theres NFW I'd hand over say 10k cash and not drive the car away. And if I'd travelled the distance I wouldn't be coming back

joz8968

iTrader: (13)

I did forget to add... The seller should obviously let the prospective buyer know his intentions of holding onto the car, beforehand. So both parties can agree to the situation, so the buyer's not disappointed, etc. (esp. if a long journey's involved)


Work's both ways though. Conversely, there's no way I'd hand over my 10k car on the basis that the cash is 'kosha'. At the end of the day, if you did that, the buyer would 'hold all the cards', so to speak.

200sex

iTrader: (2)

or ask the buyer to be there at 9 then both go to bank together or does your bank not open at all on saturday

pslewis

If I paid cash for a car .... I'm taking it there and then - or I will not return!

I sold my car last June, I used a 'pen' on a selection of notes and counted it out - it's for the protection of both parties that each is happy with what the other has received.

Gear Head

iTrader: (2)

Agreed. What guarantee does the buyer have once he has handed over the cash??
At least with a bank transfer or cheque you can track the payment and prove that it was made.

Wouldn't it be funny if tescos started doing that. 'Errrr, you're paying with cash sir? Sorry, you will have to wait 3 days until you can take your shopping home!'

joz8968

iTrader: (13)

But there's the flaw.

With bank transfers/bankers cheques, etc., until the money's cleared, the transaction can be reversed/cheques bouncing. etc. There's been a few examples of this scam happening.

No payment method is guaranteed these days... UNTIL it's fully cleared into an account.

what would scooby do

Blown out of all proportion to be honest.

Cash is cash, I'm surprised some people ever leave their beds.

Tidgy

if they insist on cash phill accept it at a bank and pay is traight in as sugested, they will pick up andy dodgy notes for you, if they accept it then your all good.

joz8968

iTrader: (13)

Prepare (possibly ) to get your fingers burned in the future then...

joz8968

iTrader: (13)

+1. Yeah, that's perfectly fine.

But don't do it with bankers drafts/cheques. Or at least hold onto the car until said payment's cleared (see above)...

SirFozzalot

Same here. I wouldn't hand over thousands of pounds to someone and walk away empty handed That's one of the reasons for paying cash, so you can walk away there and then and not have to wait for it to "clear".