How can I sell a car without getting ripped off?

Slideshowbob

How can I ensure if I sell a car privately for cash or a cheque that that notes are not fake / I won't get mugged after or the cheque won't bounce?

Any other recommended methods of payment?

thanks

SV

Go to a bank and have it paid into your account when the sale is agreed.

Slideshowbob

SV wrote: »

Go to a bank and have it paid into your account when the sale is agreed.

So the buyer brings the money into the bank, then I give them the log book and keys?

SV

You go with them and you could have the log book being signed over at the same time. Yep.

Wisesmurf

If its not a huge amount (say less than 5k) I'd insist on cash. Any more I'd want some cash and a bank daft that I'd deposit before handing over the keys. For the notes, you can get a pen to check if they're real (or possibly go to a bank to verify?)

With regards to your safety, have a friend present and show the car in a populated place during the day.

Gen.Zhukov

Wisesmurf wrote: »

If its not a huge amount (say less than 5k) I'd insist on cash. Any more I'd want some cash and a bank daft that I'd deposit before handing over the keys. For the notes, you can get a pen to check if they're real (or possibly go to a bank to verify?)

With regards to your safety, have a friend present and show the car in a populated place during the day.

Sound advice there ^

Re the log book. I would hold on to it and have written in the receipt that seller accepts responsibility for sending it to the DOE Shannon. You don't want a load of speeding/parking fines.

Divorce Referendum

1.618 wrote: »

Sound advice there ^

Re the log book. I would hold on to it and have written in the receipt that seller accepts responsibility for sending it to the DOE Shannon. You don't want a load of speeding/parking fines.

Signing it and posting it there and then with the buyer is a far handier thing to do.

Divorce Referendum

Divorce Referendum wrote: »

Signing it and posting it there and then with the buyer is a far handier thing to do.

best to hold onto it till the dust settles I think, especially if waiting for bank drafts to clear.

Divorce Referendum

RoverJames wrote: »

best to hold onto it till the dust settles I think, especially if waiting for bank drafts to clear.

Im not sure what you mean here. Give the seller the car and keep the log book or neither

coylemj

If the buyer is going to pay you with a draft, one option is for you to accompany him/her to the bank/building society, the buyer hands in his pass book and asks for a draft payable to you in the amount of xxx, the clerk then hands you the draft.

You can then fill in the registration cert with the new owner's details and post it straight away.

ronaneire

As mentioned, depending on the asking price cash is king. Have the new buyer fill out their details on the back of it and you also sign and date it. If at all possible get a couple of photocopies of the part that was filled out and give one to the new buyer and hold onto one yourself.

Post it off to:

Dept of Transport
Shannon
Co. Clare

Divorce Referendum

Divorce Referendum wrote: »

Im not sure what you mean here. Give the seller the car and keep the log book or neither

Give the seller the car and keep the logbook, if selling a car for a decent few quid I always ask for ID, the address going on the change of ownership should match the ID. Any issue materialising with the payment method that's unlawful, at least you have an address, name and change of ownership form. Not a wonderful position but far better than being left with no car, a wad of fake notes / dud draft and no way to trace the "buyer".

dr.fuzzenstein

RoverJames wrote: »

best to hold onto it till the dust settles I think, especially if waiting for bank drafts to clear.

Isn't a bank draft paid for in cash?
A cheque needs to clear, but a bank draft should be as good as cash.
Unless it's fake of course.;)

dr.fuzzenstein

dr.fuzzenstein wrote: »

Isn't a bank draft paid for in cash?
A cheque needs to clear, but a bank draft should be as good as cash.
Unless it's fake of course.;)

Lodge it to another bank and it takes a few days afaik, up to 10 working days if lodged to post office or credit union.

dr.fuzzenstein

RoverJames wrote: »

Lodge it to another bank and it takes a few days afaik, up to 10 working days if lodged to post office or credit union.

Yet more reasons not to bank with PO and CU.
But it should clear if it's genuine, in fact a draft is as good as cash, since it must be paid for in full at the time of issue, so unless the bank has gone bust, it will go through.
Cheques of course can be written to any amount, regardless of what is in the account and therefore can bounce.

Jimmy Bottlehead

Safest way that was recommended to me on here was...

1) Go to buyers bank with them, and have them withdraw the cash. Bank will provide an envelope so you don't need to worry.

2) Have a witness with you, tell the buyer they can do the same if they wish. Safer for them as they've a witness, same for you, and also you'll have a large amount of cash on you.

3) Have them sign the logbook there and then in the bank (as there are cameras and it's as safe as you can be)

4) Have them fill out the logbook, then make a photocopy of the logbook for them for safekeeping. If possible, post it there and then.

Best of luck with the sale.

dr.fuzzenstein

dr.fuzzenstein wrote: »

...............
But it should clear if it's genuine................

I know that.

marryabroad

if accepting a bank draft then try do it during bank opening hours. when draft is handed to you ring the bank its drawn on immediately to varify its authenticy.

i was selling a jet ski few year ago and was asking €9600. after few calls from this one fella he arrived on with a draft for €9000 and balance in cash to 'haggle'. i rang branch on draft and it turned out the draft was originally made out for €90 and not €9000!!! he was told to fu*k off before he got a kick in the boll*x.

L-M

ronaneire wrote: »

As mentioned, depending on the asking price cash is king. Have the new buyer fill out their details on the back of it and you also sign and date it. If at all possible get a couple of photocopies of the part that was filled out and give one to the new buyer and hold onto one yourself.

Post it off to:

Dept of Transport
Shannon
Co. Clare

"Cash is king" doesn't actually mean "cash" in the literal sense. It can be any means of payment that doesn't involve a trade in/swap etc.

If someone rang me as said "What would you take for it cash?" My reply wouldn't be "I'd take €1,000 cash, €850 cheque or €950 bankdraft".

As regards the OP, the safest way to do it is to meet them at the bank and have the money lodged into your account. Then you post the logbook there and then.

Never, under any circumstances give the logbook to the buyer.

dr.fuzzenstein

Limerick man wrote: »

Never, under any circumstances give the logbook to the buyer.

Yep, that's the indisputable number one rule.