getting paid for car.....

crackcrack30

What is the most secure way to get paid for a car sold on done deal ect....

Don,t want to get ripped off, or have to recieve a large cash sum at home...

cheers....

Stheno

If you don't want a lot of cash at home, either ask for a bank draft, or see if the seller will meet you when the banks are open so you can lodge it?

crackcrack30

just saw sticky...........

Pataman

Cash, cash or cash.
Any of the above.
NEVER take a bank draft, there a lot of stolen drafts going around at the moment.

corkgsxr

id only take cash. if check or bank draft, they dont get vehicle till it clears

anthony4335

If you take a draft, all you need to do is ring the bank where it was issued and have the draft verified, for the amount and the name issued to. Obviously this means doing the deal during the week. Otherwise I would take cash. I only ever pay by draft.

kupus

Pataman wrote: »

Cash, cash or cash.
Any of the above.
NEVER take a bank draft, there a lot of stolen drafts going around at the moment.

Even cash is dodgy, loads of fake notes flying about.
Solution:
Both go into bank and he lodges the money into your aA/C

September1

Wester Union or wire transfer are quite good for seller, all risk is on buyer.

Del2005

kupus wrote: »

Even cash is dodgy, loads of fake notes flying about.
Solution:
Both go into bank and he lodges the money into your aA/C

You can buy pens to verify the notes are real.

Another option is bank transfer, but as with checks, make sure that the money is in your account before handing over the keys.

With checks, the money appears in your account in a few days. That's really a loan that the bank is giving you. The only way to be sure the check is valid is to wait a few weeks for the issuing bank to confirm it's legit, no idea how to do it though. Not really practical for a car sale.

coylemj

Tell the seller you will accompany him to his bank, then do that and when he applies for the draft, the bank official hands it to you.

In this day and age I would not handle a large amount of cash under any circumstances, that's stone age stuff. Either electronic transfer which you can verify before you hand over the car or you collect the draft direct from the hand of the bank/building society/credit union official as above.

And do not hand over the registration cert, fill it in as per the instructions on the back and post it to Shannon.