Quick advice on selling my car privately...

jasonb

Yep, another one of these threads, sorry!

I’m selling my car, and have it up on the usual sites. Have been swapping a lot of messages with a guy in Donegal (I’m in Kildare) who is interested. He seems very genuine but of course you never know (of course, he could say the same about me).

Anyhow, we’re arranging for him to view it today, and have ‘agreed’ that he’s not just coming down ‘for a look’, basically unless it’s not as described, he’ll take it. However, he doesn’t have enough cash (can’t get enough out from the ATM due to daily limits) and has asked would a Bank Transfer do instead, from his Sterling Bank account.

My gut feeling, as much as I want to sell the car, is a no, it would take a couple of days for the money to clear (at least from previous experience of Bank Transfers) and he’s be driving off with my car, and I’ve have no money (yet at least). So that’s not ideal, not matter how genuine he might be. It’s not a big sale, I’m only asking for €3,500, but still. I did think maybe I could ask him for as much cash as he can get, and transfer the rest, and I wouldn’t post the Registration Cert until the money has cleared, but that’s still taking a chance, albeit a smaller one.

Any thoughts, advice? Should I also be wary of someone from Donegal having a Sterling Bank Account?

Thanks...

kippy

jasonb wrote: »

Yep, another one of these threads, sorry!

I’m selling my car, and have it up on the usual sites. Have been swapping a lot of messages with a guy in Donegal (I’m in Kildare) who is interested. He seems very genuine but of course you never know (of course, he could say the same about me).

Anyhow, we’re arranging for him to view it today, and have ‘agreed’ that he’s not just coming down ‘for a look’, basically unless it’s not as described, he’ll take it. However, he doesn’t have enough cash (can’t get enough out from the ATM due to daily limits) and has asked would a Bank Transfer do instead, from his Sterling Bank account.

My gut feeling, as much as I want to sell the car, is a no, it would take a couple of days for the money to clear (at least from previous experience of Bank Transfers) and he’s be driving off with my car, and I’ve have no money (yet at least). So that’s not ideal, not matter how genuine he might be. It’s not a big sale, I’m only asking for €3,500, but still. I did think maybe I could ask him for as much cash as he can get, and transfer the rest, and I wouldn’t post the Registration Cert until the money has cleared, but that’s still taking a chance, albeit a smaller one.

Any thoughts, advice? Should I also be wary of someone from Donegal having a Sterling Bank Account?

Thanks...

Someone from Donegal having a sterling bank account wouldn't be too unusual however I wouldn't part with the car till all funds were in your possession.

how.gareth

DO NOT hand over your car until you have all the money cleared and in your possession, if he wants your car he will happily wait the few days

jasonb

kippy wrote: »

Someone from Donegal having a sterling bank account wouldn't be too unusual however I wouldn't part with the car till all funds were in your possession.

Thanks for the quick reply. They’re offered to leave a deposit and then meet again to collect the car, so that sounds pretty genuine to me I reckon?

colm_mcm

If he insists on coming today, get him to come see the car, if he wants it, leave a deposit and he can collect it later in the week.

Don’t let the car off unless it’s paid for.

(Edit, only saw your last post now)

Atlantic Dawn

jasonb wrote: »

Thanks for the quick reply. They’re offered to leave a deposit and transfer the rest and then meet again to collect the car, so that sounds pretty genuine to me I reckon?

Yes once the money has cleared and you then hand over the car. Make it clear to him that the deposit is non refundable.

jasonb

Thanks for the replies, glad to see that my gut feeling is right. If he leaves a deposit and then we meet again to finish the sale, that sounds decent to me.

Thanks..

jasonb

Atlantic Dawn wrote: »

Yes once the money has cleared and you then hand over the car. Make it clear to him that the deposit is non refundable.

Actually, I misunderstood, he’s suggesting leaving a deposit and then paying the rest when we meet up for the second time.

jasonb

Would the deposit being non-refundable be normal?

Atlantic Dawn

jasonb wrote: »

Would the deposit being non-refundable be normal?

I always tell them it's non refundable, otherwise you are left holding the car and turning away potential buyers. Why leave a deposit if you are not buying it.

jasonb

That’s a fair enough point! Anyhow, it’s looking promising, he’s coming down today and if he likes it he’ll leave a deposit and then we’ll meet again when he has the rest of the money. His address is also very near the border, so that relaxes me about the Sterling Account.

Thanks to everyone for their quick advice of a Sunday morning, I’ll update when the sale hopefully goes through!

NIMAN

Definitely don't let the sterling account side of things put you off.

I fit that situation too.

Many Donegal residents work in the north, and because of that you need a sterling account to have your wages paid into.


It's very common along all the border counties.

jasonb

Well in the end he was a perfectly genuine, friendly buyer. Deposit paid on Sunday, sale completed today. Thanks for all the advice, you just never know really, but thankfully I found a decent buyer.

Thanks...

how.gareth

jasonb wrote: »

Well in the end he was a perfectly genuine, friendly buyer. Deposit paid on Sunday, sale completed today. Thanks for all the advice, you just never know really, but thankfully I found a decent buyer.

Thanks...

Happy days congrats on the sale

how.gareth

how.gareth wrote: »

DO NOT hand over your car until you have all the money cleared and in your possession, if he wants your car he will happily wait the few days

Thankfully everything went fine in this case so congrats OP!


But how does the buyer protect himself here, if he has paid a deposit and transferred the funds isn't he now vulnerable to the seller screwing him over?

jasonb

Deleted User wrote: »

Thankfully everything went fine in this case so congrats OP!


But how does the buyer protect himself here, if he has paid a deposit and transferred the funds isn't he now vulnerable to the seller screwing him over?

Well, he's vulnerable to the deposit for sure. In my case, he actually paid in cash when I met him yesterday with the car, so effectively the money and car swapped over at the same time. That said, he's still relying on me to post the Vehicle Registration, but that's true no matter how the sale is conducted.