Selling a car for cash

josip

Would be for €8,000. Buyer wants to pay cash. I've only sold for cash a couple of times before now and for around €2,000.

Any thoughts? What precautions should I take? My big/only concern is counterfeit, not sure I'd be able to spot a decent counterfeit note. I don't have a pen or anything else that would detect a fake note.

Should I ask for photo ID? I'll be getting the buyers address anyway for the change of registration form

callaway92

Literal cash makes no sense when you're talking 8k. Just get a bank transfer for peace-of-mind (that still fits the 'cash purchase' bill)

MarkR

You can get one of those pens to test money in most stationary shops.

kdevitt

You can go to your bank with him, and have him lodge it to your account with you there.

the_amazing_raisin

https://www.boards.ie/discussion/2058302637/selling-a-car-for-cash

Tell him bank transfer or no sale would be my approach. It take literally a minute to Revolut someone that amount of money and you can confirm the transfer as you're handing over the keys

User1998

https://www.boards.ie/discussion/comment/120773761#Comment_120773761

Some people can’t transfer due to tax reasons. And you’ll end up missing out on the sale.

OP just take the cash, meet in the bank or check the notes with a counterfeit pen

josip

https://www.boards.ie/discussion/comment/120773726#Comment_120773726

Will be coming in the evening, bank closed.

bazz26

I'd rearrange to meet at a time when your bank is open and meet them there. Cashier will count it, validate and lodge at the counter, job done.

Mr321

Get yourself a pen to check as mentioned before. Have someone there with you as you count it in each thousand that can help with the marking of the pen.

Id be more weary of a cheque bouncing then 8k of counterfeit notes personally and as you said you'll have all their details from the change of ownership.

Atlantic Dawn

Tell the buyer you will accept only Series II €50 notes, familiarise yourself with the security features of these notes, do a spot check every 10 notes or so and you will be fine.

Seth Brundle

Why run the risk of cash regardless of pens or anything. I'd also be wary of a mugging or something.

Everyone can revolut or do a bank transfer. If they say they can't...

the_amazing_raisin

https://www.boards.ie/discussion/comment/120773910#Comment_120773910

Can't transfer, or won't transfer? 😜

Personally I've no desire to participate in someone's tax avoidance, even if it means a slower sale. And it's a lot harder to counterfeit a bank transfer than cash

mickdw

If cash doesn't suit, don't take it but there are multiple reasons that someone may want to pay in actual cash, mostly no concern to you.

Someone may have cash saved up from nixers. OK they have not paid the tax but that is their problem.

They could have sold something for cash themselves and don't want to invite questions as to where it came from.

They could be the minister for finance and not have a bank account.

They could have won it on a horse.

They could be drug dealers With large amounts of cash flowing around.

They could be attempting to pass off counterfeit.

josip

Thanks so far, I've been studying the €50 note hard and am more comfortable now with the feel and measures than I would have been when I first posted. I've tried in a couple of newsagents to get a counterfeit pen, but no joy. One of them did let me feel a counterfeit tenner though, so that was a plus. Agree that someone dealing in cash is more likely to be avoiding tax than someone doing an EFT. But that doesn't mean everyone is. Are drug dealers really going to try and launder their cash by building up a large stock of old diesel cars that they'll have to shift? Maybe I'm naive.

mickdw

https://www.boards.ie/discussion/comment/120774217#Comment_120774217

More than a few small time drug dealers do trade in cars at around that value.

nachouser

Let's say your sitting down with the lad somewhere, checking a pile of 50s with your pen. And a few start to show as dodgy. That's an awkward conversation to be having with a stranger.

mondeoman72

Just don't. One trick from the movie the general was to lodge a load of cash, then minutes later there ws a robbery.

Sounds far fetched, but if someone gave you real cash of that amount in the evening, where you gonna keep it safe .

Just don't. So many things could go wrong

josip

https://www.boards.ie/discussion/comment/120774276#Comment_120774276

That's one of the easier scenarios I think?

"Sorry mate, you'll have to go back to wherever you got these and have a chat with them, bye."

Mr321

https://www.boards.ie/discussion/comment/120774276#Comment_120774276

They'll be OK as their not going to hand over the keys until the last 50 is checked.

https://www.boards.ie/discussion/comment/120774217#Comment_120774217

I'd say Easons or Tescos have them pens anyway.

Meet them were you know there is public CCTV anyway to.

Youll be grand.

nachouser

https://www.boards.ie/discussion/comment/120774311#Comment_120774311

Fair enough. Sure, let us know how you get on anyway.

josip

Will do, thanks for all the advice. Half of the people 'interested' never show anyway.

the_amazing_raisin

https://www.boards.ie/discussion/comment/120774318#Comment_120774318

All 160 of them? That'll take a couple of coffees and I hope some passing independent entrepreneur doesn't decide to grab the pile of cash and run

Also maybe I'm weirdly paranoid but I always have this concern that I'll get mugged with that amount of cash on me

josip

Car sold. 50s at the kitchen table. Will let ye all know if we have any unexpected visitors overnight and if all the notes pass muster with the bank tomorrow. But I don't think there will be any issues like that. I think the purchaser has very high integrity with respect to a deal.

creedp

https://www.boards.ie/discussion/comment/120774472#Comment_120774472

Some years ago now I bought a car from dealer in England for £15k. Needed to wrap up deal quickly so withdrew money (in £20s!!) from bank and flew from Dublin to pick it up. I was never so paranoid from the time I walked out of the bank to handing over the cash to dealer. Never again!!

josip

Money lodged yesterday, counted by one of those nifty machines that presumably spot counterfeits while counting. All good.

@creedp your post reminds me of the time we were buying a cheap apartment on the other side of Europe. The bank messed up the transfer and instead I had to withdraw cash (€45k) and fly out the next day (Saturday) with it. Back then, if you declared that much cash to the local police on the way into the country, it would be likely you'd get a visit from some associates later that day to encourage you to deposit the cash with them. So I had to keep my mouth shut on the way through customs and thankfully I wasn't stopped. Took the tram with the MIL on the Monday morning with the cash in a backpack to buy the apartment 🙂.

creedp

https://www.boards.ie/discussion/comment/120790518#Comment_120790518

Not very good for the blood pressure😂. Had the cash stored in a money belt around my waist (early experience of the forthcoming spare tyre) which the airport security didn't pick up. Not sure what would happen if the scanner picked it up in a back paxk

creedp

https://www.boards.ie/discussion/comment/120790518#Comment_120790518

Not very good for the blood pressure😂. Had the cash stored in a money belt around my waist (early experience of the forthcoming spare tyre) which the airport security didn't pick up. Not sure what would happen if the scanner picked it up in a back paxk

Bass Reeves

https://www.boards.ie/discussion/comment/120790518#Comment_120790518

Great to see another sucessful cash transaction. You will be more comfortable with it next time.

beertons

Too late now, but you could lodge it in a bank that has a 24 hour kiosk. Goes straight into your account, and they scan every note when counting.