Selling a car (at the weekend)

redmenace1

Hi folks

I am selling a car (for the first time) and I have asked for a bank draft made out in my name, along with photo ID, landline phone bill. Hope to do the deal this weekend.

The buyer is keen ( I am selling the car as a quick sale) and I want to make sure I haven't left myself exposed to fraud if I give the car over in exchange for the draft which obviously I can't cash till Monday.

Have I covered all the options - or is there any risks. I got an email copy of draft and it looks bona fide.

Any advice gratefully received

thanks

squod

Ask to take a picture of his/her licence (with a phone), it's likely he'll want a look at yours anyway.

redmenace1

Good idea thanks

Hellrazer

Ive given this advice here before.

Under no circumstances hand the car keys over until the draft has cleared your account.Usually what I do is take the draft,fill out the change of ownership form with the buyer and tell the buyer that they can collect the car once the draft has cleared and at the same time you`ll drive with them to a post box and put the form in it.


If they really are a genuine buyer they will understand your apprehension and do it this way.
Drafts are way too easy to fiddle these days.

Better still deal in cash only.

Dolph Starbeam

With the change of ownership form on the log book make sure that you send it away, and do so straight away to save any hassle with tolls etc. Other than that i think you have it covered.

Nonoperational

I was very nervous buying private during the sumer. Car was over €10k so it was a probably a bit risky for the seller too but I gave her a draft and signed the change of ownership. She gave me a copy of the reg cert and signed it and i trusted she'd post the original one the next day. I gave her a copy of my licence and I had the draft and the receipt for the draft.

All went well. It's hard to doo it without any risk imo.

dave1982

Cash only lot of fake drafts in circulation.

a_v525

Would you feel even safer meeting a guy to hand over €5000 or more in cash??

eh..... no

mathepac

Take your insurance disc off the windscreen.

redmenace1

Thanks for all the good advice there folks. For the sake of it, I will update this thread if the deal goes thru.

I think there is a risk in either drafts or cash as was pointed out. I might stall deal until Monday & clear the draft in bank with buyer in attendance.

tatli_lokma

redmenace1 wrote: »

I think there is a risk in either drafts or cash as was pointed out. I might stall deal until Monday & clear the draft in bank with buyer in attendance.

I think that is the best idea if its possible - but I seem to remember hearing that in order for the bank to clear the draft immediately you must go to the branch that the draft was drawn from. A good fake draft will fool even a bank, and it is only when they try to clear the funds that they realise it is not genuine. I have heard of this happening for sure.

If that is not an option Hellrazer's advice is spot on.

Motorcheck

Sorry I'm a bit late on this one. If you have a copy of the draft you could always ring the bank that made it out and confirm it. They should have a record of it in the branch and be able to tell you whether it's legit or not.

redmenace1

Just to say that all went well & bank draft worked out fine, although the issuing bank were a bit shirty when I rang them to authenticate the draft. They seemed to take offence at the idea a fake draft could ever be in circulation:rolleyes:

Thanks for advice folks:cool:

Nexo

Just a note on accepting cash. BE CAREFUL, there are a lot of forged notes out there nowadays. Do the ususal security checks, watermark, raised bars etc. I would also recommend buying a note detector marker, readily available from Easons etc for a couple of euro.