Best form of payment for a car sale?

[mhoult 0]

Have got a few people coming to look at my VR6 and wondered what forms of payment should I accept?

 

Cash is fine, what about bank cheques etc?

 

Cheers

 

Mark

[vr6storm 0]

make sure the CHQ's are cleared and genuine..............also watch out for dodgy bankers draft's........get your bank to confirm their authenticity and don't even think about taking Western Union anything!!!!!

 

Cash is king!!!!(as long as its not fake)

[mhoult 0]

How can you check the cheque is cleared if someone has travelled 4 hours to view the car?

 

As for forgeries any tips on checking BS cheques. The guy has mentioned a Barclays cheque made out to me, I don't bank with them, so surel he can take the car then cancel the cheque?

 

Thanks

[vr6storm 0]

How can you check the cheque is cleared if someone has travelled 4 hours to view the car?

 

As for forgeries any tips on checking BS cheques. The guy has mentioned a Barclays cheque made out to me, I don't bank with them, so surel he can take the car then cancel the cheque?

 

Thanks

 

 

if its a personal CHQ then he travels back another 4hours and picks up the car when his CHQ has cleared........get him to leave you a non-refundable deposit of say £100cash so that he knows you won't sell the car from under him,and you also know he's serious

 

ok he's travelled 4hours......but surely you're not going to give him the car without the CHQ clearing

[Blue_Joe 0]

I would never accept a cheque as payment UNLESS it clears first. With Cash and Bankers Drafts I always say that I would rather the person accompanies me to the bank so I can pay the money of either type in that way the bank has taken the risk away.

 

Seen a few people been stitched by accepting a bankers draft or cash only to be told when got to the bank to pay it in to be told it was a forgery!! But the party in question was gone with the car!!!!!

 

I know you appear to be awkward - but better to seem a little awkward than lose all that money and your car!!!! Most people although may think it is a pain will accept it and do it if they want the car. If they don't - then you more than likely don't want to be dealing with them!!!!

[Walesy 0]

Cash only for me.

[nocrap 0]

Cash all the way, even if they have travelled 4 hours there must be a bank somwhere near. Never accept a cheque for any large amount of cash without it clearing first.

[mhoult 0]

I have been informed that his bank can write a cheque which they guarentee and take the money straight from his account. so his name does not appear on the cheque.

 

Anyone heard of this?

[Walesy 0]

You'd be best off getting information/advice from your bank I suppose.

[dinkus 10]

You can get certified cheques from some places (I know Nationwide do it) - effectively the bank take the money from your account, then write a cheque for that amount from the bank itself.

 

It's as good as cash, but you really do want to call their bank and check that it's genuine before you accept it.

 

Personally, I'd just go for cash though.

[craigowl 0]

Some good advice from the guys above.

 

Dont worry about appearing unduly picky and concerned whether you will be ripped off by appearing to be awkward about "guaranteed" cheques. Plenty of devious people prey on this, I am sure.

 

Stick to YOUR desires about how you want paid for the car. The determined buyer will be desperate to go to any length to let you release it to them.

[BigTartanJudge 0]

cash only ALL the way, it's the ONLY way to be sure,

 

Cheers

[Henny 0]

yup, cash only for me too... I bought a cash checking pen from Smiths when I sold my last car to check the money I received was legit...

 

Be very aware that if you accept a dodgy check or bankers draft, the car has not been stolen, but you have been a victim of "theft by deception" so the way the police will process it is completely different AND your insurance won't cover it...

[CazzaVR 0]

Cash is best.

 

As Rodders said, if he wants to pay by check, get him to leave a cash deposit and he can then pick the car up when the cheque's cleared. If he's serious, he'll do the travelling- I know I would and I have done in the past.

[pkripper 0]

Bankers draught is the best for anything in £000's, they have a number on the back to call to prevent fraud. Cash is a liability.

[mhoult 0]

The car has gone. I escorted him to Barclays and they wrote the cheque in front of me and it is guarenteed payment as the money came straight out of his account.

 

Thanks for all the replies.