should i go to bank with a buyer to be on safe side? how about weekends?
2007-12-13 09:41:14 · 24 answers · asked by Sdcd C 1 in Cars & Transportation ➔ Buying & Selling
i dont want problems with forged cash, or bankers check that will not work ...
2007-12-13 09:49:52 · update #1
Cash - easily forged. Take it to a bank, accompanied by the buyer, if you can.
Cheques - often fakes (for our American visitors, we do not have 'certified cheques' in Great Britain). Cheques may bounce, many months after they have apparently cleared. Take it to a bank, accompanied by the buyer, if you can.
Bank drafts - often forged. Take it to a bank, accompanied by the buyer, if you can.
Direct bank transfer - 100% safe and impossible to reverse after 24-hours.
2007-12-14 00:15:18 · answer #1 · answered by Nightworks 7 · 0⤊ 0⤋
I sell cars for a living so I speak from experience. Going to the bank is the best way to avoid getting scammed when selling a used vehicle. Another was is to have your purchaser give you a money order or cashiers check from a local financial institute. Throughly go over that you will only accept these forms of payment before you will complete the transaction. You can also explain that you will be calling to verify what the form of payment is valid, ie; calling the financial institution while the purchaser is there with you. Explain your actions are not, that you don't trust them, but you want to cover your own behind and "chuckle" to make light of the situation. Hopfully they are light hearted as well and they understand. If you think calling in front of them, that might make them uncomfortable (and it may) then do it as soon as they leave. Get their license plate # that they put on the vehicle. Whatever excuse they have, DO NOT let them drive off with your plate! That way if it is a scam, you can let the authorities know promptly. Good luck and happy selling.
2007-12-13 09:54:02 · answer #2 · answered by splash3080 1 · 1⤊ 0⤋
Anyone who suggests any kind of check, draft or money order is obviously not aware of how many different and easily fraudulent documents are used to cheat sellers. They look good but are worthless. Only accept cash at a bank or in the case of a distant buyer, a direct wire transfer into your account. Going to the bank with the buyer guarantees the money will be good and you will be in a safe environment. Never go with them in their vehicle and do not go alone if possible.
2007-12-13 10:22:03 · answer #3 · answered by Otto 7 · 1⤊ 0⤋
depends on the amount.. as obviously if it's a lot they might be limited to taking out so much.. that being the case, get them to leave a deposit of £50-100 or whatever , say 10% of the value with you if they want to buy it.. and can't go to the bank.
only deal in cash. take cash, but check the money even.. u know the usual silver line and even how a note rips if u tear it a bit.
no cheques etc.. and when you do sell it make sure you send away the documentation for the new owner or you might find your getting their parking fines if you don't.
2007-12-13 09:47:02 · answer #4 · answered by junglejungle 7 · 1⤊ 0⤋
Hi suggest that you are only able to accept a certified cheque.
A certified cheque, means that the buyer has already gone to his/her bank & gotten his cheque certified (they imprint the #s into the paper & most banks either put a sticker over the cheque #s OR they punch out the #s with a puncher).
Plus they will imprint: Certified Cheque over the cheque itself. It means that their bank has certified to YOU that the $$ is in the account. Costs vary bank-to-bank for these but usually around the $20 mark (Canadian).
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Another way, a way that I prefer as it also costs the buyer LESS money so you're more likely to get them to do it--is
have them give you a draft (or a money order).
This costs about $10-15 (Canadian) at the bank OR $3.50-6 at the Post Office (Canada). And this gives you a piece of imprinted paper that actually equals the cost of the $$ they are to give you.
Yet another way is CASH
OR Traveller's cheques, which are usually discounted at banks where they have an account.
You can also contact your own bank for ideas on how to do any of these OR other ways. Paypal may ALSO be a good idea.
Good luck.
2007-12-13 09:49:29 · answer #5 · answered by belligerent assistant 5 · 0⤊ 2⤋
take it from an experienced salesperson-- get a cashier's check or money order, wal-mart is open 24/7 and the cost is minimal. Don't take a personal check unless you just really really feel like you can trust this person-- which usually you never can. Most people won't want to carry around several thousand cash. And define that before completing the deal-- sign over the title only after receiving full payment.
2007-12-13 09:45:52 · answer #6 · answered by willum 2 · 1⤊ 2⤋
You hold out your hand and when he puts money in it then you give him the paper work and not NOT before. Do not take a cheque on any account even with a number, they can be stopped. Cash only. No cash no car
2007-12-13 09:50:04 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Go to the bank with them, is what I have done b4.......Also, checks from banks that you know off are safe too. I personally like CASH, and if they have to go to the bank to get the title, then go with them. Good luck!
2007-12-13 09:45:30 · answer #8 · answered by Bradygirl 5 · 1⤊ 0⤋
Make sure the check clears before handing over the title and the money is in your hand.
If the buyer is real he should pay cash.
2007-12-13 09:54:24 · answer #9 · answered by JB 2 · 0⤊ 2⤋
The seller need to bring U.S. Currency cash or you need to go to the bank and get paid with cash or a bank check.
Do not accept a bank check or personal check unless you see the bank issue it.
2007-12-13 09:44:32 · answer #10 · answered by united9198 7 · 0⤊ 1⤋