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I am selling my 2.5 yr old Golf GTi as I am getting a company car. I have advertised it on Pistonheads and have had some early interest from a private dealer based in Coventry (I am in Glasgow). I have read various guidance on how to be protected - basically get a non refundable deposit and don't hand over the keys and V5 until the money is verified as legit and cleared in my account. The safest thing seems to be electronic funds transfer. I am okay with all of that.
This guy, if he is for real, which I am yet to be convinced, is suggesting that he will give me the deposit, and then fly up to Glasgow one day next week, meet me at station/airport, and if he is happy with car, pay me and take car away. I pointed out that I would need the funds cleared etc as above, he says he is fine with that and is suggesting an electronic transfer. He sounds legit, but who knows.
So what I am planning, is to ask him to meet me outside a bank, near to station. I will be with a pal, just incase.. he can look at the car and if we agree a price we go into the bank and he pays money into my account. I am thinking this is best if cash, so that the teller counts it there and then, verifies not forged etc, and once teller confirms all ok I sign off the V5, give him the keys and job done.
Does this sound the safest plan ?
Would he be able to transfer the funds instantly in a branch as opposed to electronic banking in internet, which I am assuming he won't be able to do if standing on the street or in a bank branch ?
I realise this buyer may fade away, but I still need the answers for when I do sell it in the next few weeks
many thanks
My mate sold his Focus ST to some guy who flew over from Ireland!!!! He paid cash 😯
i wouldn't also let the car go when full funds are in your account and cleared.
If he pays cash, you should pay it into the back before letting the car go in case the notes are dodgy
tell him you want cash, but are prepared to drive the car to him - book a cheap ticket in advance?
I like the taking him/her in to a bank and handing over the cash method. Seems a few people use it for expensive bike transactions etc..
Cash only for me, and make sure you can spot a forgery.
Sounds Fishy.
Why would a dealer fly up to Glasgow to buy a car? Don't dealers go to auctions for stock?
I would say cash only and take a big mate along for safety.
Cash straight into bank is easiest for all parties really. Most won't charge for it either, unlike raising a bankers draft or doing a same-day CHAPS transfer.
I wouldn't say there's anything inherently dodgy with what you say - used car prices are very strong at the moment and stuff is going through auction at way over the odds. No surprise then that dealers are sourcing more of their stock these days from private sales.
thanks all - lots of reassurance in there. will see if anything comes of it.
I phoned my bank - their advice is cash, go into the bank with the guy, teller checks the notes, confirm in my account, I hand over the keys, job done.
cheers
My mate sold his Focus ST to some guy who flew over from Ireland!!!! He paid cash
Not that surprising considering the amount ofmoney which can be saved by buying in the UK and paying the VRT when returning to the Republic. Even done it myself for my Father-in-law.