Private Sale?

Evil Phil

What is the usual method of payment in a private sale? Obviously I don't want cash in the house and cheques can bounce. Bank draft I suppose is the best option but what do people suggest other than that?

alias no.9

If you don't want cash in the house get a Bank draft, get them to phone you in advance and give you the serial number of the draft. You then ring the bank to confirm it's kosher. Alternatively, if you both have accounts in the same bank, meet them in a branch, they withdraw the cash and you lodge it.

omb0wyn5ehpij9

How much will the sale be?
Bank Draft is the best option, unless it would be a small amount of cash

Evil Phil

It would be in the region of 14k. I guess a bank draft would be the way to go. I didn't think of checkign the serial number though, thanks for the advice.

L-M

I would adivse logding it as soon as you. Ideally do as mentioned above, do the deal at the bank, and lodge straight away

Tipsy Mac

Yes deal at the bank in cash with buyer lodging it into your account, this rules out forgeries and any worries about keeping the cash at home, everyones happy.

ergo

sorry for bumping this but I was searching around for the answer to this

am trying to sell my old car for a small amount (around €1,000) but I have moved to UK and am only around IRL on weekends etc when banks are closed. I presume it's not unreasonable to ask for cash for such a relatively small sum.

Otherwise how would I know if a cheque /draft would be above board over the course of a weekend or are there any other options?

mikemac

Asking for 1k in cash is no problem at all. A buyer won't have an issue with that.

Now if it was 10k it would be an issue

Compton

1000 euro is deffo a cash deal no problem.

digitaldr

I think it would be good enough just to watch them get the draft at their branch as the bank won't issue a draft unless they have sufficient funds in their account.

ergo

cool, thanks for the replies above, the interested party is happy to deal in cash, I just wasn't sure what would be acceptable

and that is useful advice to watch them get a draft in their own bank, that would have to be pretty secure (unless it's the Bank of Iceland of course...)

galwaytt

sorry, but having been stung by a forged draft, I wouldn't touch one with a Barge Pole..........they are a guarantee of.........nothing!!

Best method, full stop, is a bank transfer - direct from their account to yours, ahead of collection date.

If that's not do-able, they need to send you the draft in advance, and you clear it in full, first.

I wouldn't hand over the vehicle under any other condition.

1k deal is def a cash job, though.