Private Sales - avoiding fraud
07-16-2008, 07:58 AM
#12
If you do BACS/CHAPS whatever, then you have a trail. You can prove that you paid the money and where the money went.
You have to have an element of trust, or it could get a bit silly. How happy would you be to provide a seller your bank statements?
You have to have an element of trust, or it could get a bit silly. How happy would you be to provide a seller your bank statements?
Had an envelope containing 180
07-16-2008, 12:55 PM
#16
Cash, cash and cash, go with the buyer to the bank and deposit it, then it's safe to part with car, saying that I regularly took thousands in cash in the garage from punters and didn't even check the notes for forgeries. A trusting carsalesman I was.
07-16-2008, 01:21 PM
#17
Counting large sums of cash is a PITA, so I'd recommend an electronic transfer, which nowadays can be done instantly by arrangement.
Also don't let go of the keys. Even if you're offering a test drive (insurances permitting), always hang on to the keys until you're in the car yourself.
You hear stories of cars getting driven away whilst the seller is distracted ...
Also don't let go of the keys. Even if you're offering a test drive (insurances permitting), always hang on to the keys until you're in the car yourself.
You hear stories of cars getting driven away whilst the seller is distracted ...
07-16-2008, 11:32 PM
#18
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Originally Posted by Shiskine,Jul 16 2008, 10:21 PM
Counting large sums of cash is a PITA, so I'd recommend an electronic transfer, which nowadays can be done instantly by arrangement.
07-17-2008, 03:55 AM
#19
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All good ideas, thanks.
How about this. Provided we both bank at the same bank. Buyer arranges for the full amount to be available in cash. I watch him draw it out. He hands the cash to me and I pay it in. Genius. Or not ?
How about this. Provided we both bank at the same bank. Buyer arranges for the full amount to be available in cash. I watch him draw it out. He hands the cash to me and I pay it in. Genius. Or not ?
07-17-2008, 04:04 AM
#20
I've paid cash twice for 2 different cars.
Car 1. Because I wanted 10k out I had to get 6k from one bank & 4k from another.
Car 2. Lesson learnt this time. Arranged with my bank to have 11k in cash to withdraw.
Car 3. Stopped p!ssing around getting cash out and counting it and did transfer via BACS. Picked car up 3 days later.
Car 1. Because I wanted 10k out I had to get 6k from one bank & 4k from another.
Car 2. Lesson learnt this time. Arranged with my bank to have 11k in cash to withdraw.
Car 3. Stopped p!ssing around getting cash out and counting it and did transfer via BACS. Picked car up 3 days later.