Forum menu
Just took a car from a guy 100 miles away wanting to buy my car. He's travelling up with 3 friends tonight and wants to pay cash. Now I envisaged a local buyer and bank transfer ideally before handing over the keys so cash after the bank is shut and I've little way to be 100% certain it's genuine is a slight concern. I'm naturally trusting but cautious so all tips welcome.... plan so far is:
* Have asked for id and intend to take a pic of it.
* Have said I will want to take a pic of the buyer and friends
* Will note the reg of the car they arrive in.
Anything I've missed?
Will update as we go unless it turns out to be a no -show....
It's how we always did things before all this fancy bank transfer stuff, we seemed to manage OK.
What exactly are you concerned about?
Meet in a public place with CCTV with a chaperone for you if you're worried that much.
Might be a bit late but anywhere local you can get one of those security pens? If the money is ok nothing else really matters.
Oh yeah and check the stack of notes are real....UV torch/ light.
How much are you selling for?
Give a receipt as sold as seen.
Go online and sort your VED road' tax as it is not transferable.
Ask a neighbour to witness so you don't get speeding points.
Ask a friend to come along.
Be careful if there AK47's and machetes in the back of their car.
Cancel the insurance on it as soon as the buyer leaves with the car
Buyer and 3 mates you say? 😉
[img] 
[/img]
Get nervous if they offer to throw a dog in with the deal 😉
How much/what car are we talking ?
10 year old skoda yeti (stw prefered car) ... not sure you've got much to worry about.
whacking great bling range rover... mind your eye... not least for the STW mafia
http://singletrackworld.com/forum/topic/ot-toyota-avensis-d4d-2010-6999-ono
That's a stack of cash...
It's only £7K, hardly a 'stack'
I would bet that the OPs buyer is coming from somewhere in Lancs, Burnley maybe and it'll get used as a taxi.
I've seen 2 or 3 go over there.
We sold a car to a lady who turned up with a horse box, two friends and a shotgun. It was a fairly surreal experience. I'm sure you'll be fine tho 😉
Get mates/neighbour to be present. 7k is a lot of money to be carrying after the deal is done. You don't want to be mugged at that point!
It is worth 7k so stick out for it. I'd buy it if I was in the market for a car just now.
Let us know how it goes.
Lol have asked a mate who has a uv checker at his pub so he's happy to run the cash through which is a help. Buyer seems unconcerned about this which is also a good sign. £7k isn't a life changing sum but the embarrassment of being scammed would be a topic of conversation with my mates for a good while....
Meet in your mates pub and do the deal there?
I think in a mates pub with cash checker is probably a good as it gets
There no free guaranteed ways of getting the money, unless you pay for a service like paypal
7k would change my life !
It's only £7K, hardly a 'stack'
Shop wisely and its enough to need a large new patio to cover the fresh bodies (2).
Make sure you leave an audit trail for the transaction. £7K is more than enough to ring the POCA (money laundering) alarm bells if you try to buy anything with it or pay it into a bank.
https://www.app.college.police.uk/app-content/investigations/investigative-strategies/financial-investigation-2/asset-recovery/cash-seizure/
Get a receipt ready for the buyer to sign etc, they get a copy, you keep a copy.
I used this template recently:-
Don't forget to have the V5C to hand ready to fill out and know which bits you keep and which bits they take away. Post your copy off asap.
They're probably bringing three mates in case YOU mug HIM.
The guy I bought my car off borrowed an UV light from his local post office, the cash was still sealed in the bank bags too.
All gone through safely, phew. Seemed a nice guy 🙂 UV checking was a real bonus so owe my mate a few beers for that, assuming I bank it all ok obviously. I did look out for the old switcheroo trick coming out of the pub but the plastic bag the cash was in was too big to fit in a pocket lol. Am I paranoid or just super cautious?!
If you knew me you'd know I'm in no physical shape to mug anyone!
I used that very receipt and have the V5 but good advice all the same. Now just have to do the other leg of all this and buy privately next week. Bankers draft by me there though, which I offered to draw in the presence of the seller. Breakdown cover in place too but hoping I won't need it. The T5 experience (money pit?) is about to start but I promise to start numerous threads on the good and bad that ensues 🙂
The bonus in all of this is NOT dealing with webuyanycar and seeing a dealer make a good wedge off the sale.
All is good then 🙂
Result!
The bonus in all of this is NOT dealing with webuyanycar and seeing a dealer make a good wedge off the sale.
Yup, I was faced with this but got a good private sale for more £££.
I hope you got what you wanted for the car?
Cheers for the update
Good luck with the T5
I have been walking around the car auctions in Leeds today with 8K in my pockets. Paranoid or what.
VED tax refund is automatic seemingly based on V5 when sent it. You learn something new. Insurance cancelled.
I sold a car for cash to a camel coat wearing Arthur Dalyesq dealer. After taking some advice I took a large mate with me and arranged to meet him in Bank ( I called them first and they said its common practise). He handed over cash ( bit over 15k), cashier banked it, we signed paperwork and I handed him keys. I was nervous, he was quite relaxed.
Just so we can help look after you, were exactly are you and the cash?
I'd get the cash out your house if I were you. Years ago I was at a bbq and some one was selling a motor cash to a bunch of Turkish geezers. As soon as they left he was out the door to a mates. You don't want complete strangers knowing you have 7k in cash indoors over the weekend!
[quote=deepreddave said]VED tax refund is automatic seemingly based on V5 when sent it. You learn something new.
Yes, this works. Sold a car a few weeks back, posted V5 off, received confirmation and then a week or so later got the VED refund.
The easiest way to accept or pay out funds of this level is via a Faster Payment bank transfer. Though it can take up to 2 hours it normally takes less than 15 minutes - or, when I sold my car last Friday, it was almost instantaneous
You get an audit trail and security over knowing the funds are actually in the banking system
I would always refuse a large cash transaction now
Cancel the insurance on it as soon as the buyer leaves with the car
Ermmmmm!
Faster Payment wasn't the buyer's preference plus it all happened very quickly and I'm aware they don't guarantee all FP's will go through in 2hrs.
Drac - I wondered about this but Directline advised to cancel due to sale so they could note their records. I presume a fraudulent sale would unwind the transaction but also think you can't insure a car you don't own maybe....
Anyway we survived the night without me sleeping stood up behind the patio doors with a baseball bat and it's been banked so all looking ok.
Thanks for the genuine and the funny replies, typical stw 🙂
We sold our Verso to a family who drove down from Bradford, to the Midlands.
They paid about the same amount in cash.
I was concerned but when they arrived with Mum, Dad, Children & Granny in tow any fears were allayed.
They were as nervous carrying the cash as I was receiving it but they were over the moon with the car.
In fact they all came in for a cuppa whilst we did the paperwork & the Dad sorted the insurance.
Lovely family.
Had the same problem selling the caravan, family drive 200miles to collect.
The reason for cancelling insurance immediately is in [url= http://www.visordown.com/motorcycle-news--general-news/biker-may-be-forced-to-pay-thousands-after-banned-new-owner-has-fatal-crash/25470.html ]this link[/url]. The logic of the insurance company and the court is:
- you sell a car, don't cancel the insurance and the buyer doesn't get new insurance
- buyer crashes; your insurance company are liable for the claim and have to pay out
- but your policy doesn't cover the buyer, and you broke the terms of the policy by letting the buyer drive, so the insurance company claim the cost back from you.
Weird and unjust, but apparently legally correct!