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Selling a car privately...?

  • 21-03-2018 09:51PM
    #1
    billy few mates
    Registered Users, Registered Users 2 Posts: 6,807 ✭✭✭


    What's the safest way to sell a car privately?
    I don't really want someone turning up at the door with a pile of cash, I don't want a bank draft because of the risk it might be stolen or false.


Comments

  • #2
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,328 ✭✭✭✭colm_mcm


    Have a read of this
    https://www.boards.ie/vbulletin/showthread.php?t=2056392340


  • #3
    miketheDIYman
    Registered Users, Registered Users 2 Posts: 153 ✭✭miketheDIYman


    I sold one recently for € 6,500 but insisted the guy came to the bank with me fortunately we both had AIB accounts He approached the counter first and asked the teller if he could transfer that amount from his account to mine, she said ok and gave both of us bank chits easy peasy I had to get the bus home as I drove to his pad and he was keen to take possession on the day


  • #4
    billy few mates
    Registered Users, Registered Users 2 Posts: 6,807 ✭✭✭billy few mates


    Thanks, some useful information there, still not sure about a bank draft, I've read stories where it takes the bank about a week to discover theres a problem with the draft and by then the car is long gone...


  • #5
    billy few mates
    Registered Users, Registered Users 2 Posts: 6,807 ✭✭✭billy few mates


    Thanks, some useful information there, still not sure about a bank draft, I've read stories where it takes the bank about a week to discover theres a problem with the draft and by then the car is long gone...


  • #6
    _Brian
    Registered Users, Registered Users 2, Paid Member Posts: 19,757 ✭✭✭✭_Brian


    Hard to beat cash.
    If your worried about security have a friend around when your doing the deal.


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  • #7
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 18,197 Mod ✭✭✭✭Henry Ford III


    billy few mates wrote: »
    Thanks, some useful information there, still not sure about a bank draft, I've read stories where it takes the bank about a week to discover theres a problem with the draft and by then the car is long gone...

    Ring the issuing bank with the draft number. Verify it's in order.


  • #8
    CiniO
    Registered Users, Registered Users 2 Posts: 16,041 ✭✭✭✭CiniO


    billy few mates wrote: »
    Thanks, some useful information there, still not sure about a bank draft, I've read stories where it takes the bank about a week to discover theres a problem with the draft and by then the car is long gone...

    Why hesitation on dealing with cash?
    Much less hassle then bank draft, quick and easy.
    And secure as it's easy to verify it compared to bank draft.


  • #9
    the_syco
    Registered Users, Registered Users 2 Posts: 37,310 ✭✭✭✭the_syco


    When I sold my Corolla for whatever it was, they paid in cash, and I inputted it into the automated bank machine. Once it all went in, I handed over the keys, had him fill out the log book, and I then posted the log book.


  • #10
    Badger2009
    Registered Users, Registered Users 2 Posts: 331 ✭✭Badger2009


    I prefer cash as I find it most straightforward. It has its cons but overall it’s the handiest for all concerned imo.


  • #11
    bazz26
    Registered Users, Registered Users 2 Posts: 51,877 ✭✭✭✭bazz26


    Depends on the value of the car in question which the OP hasn't disclosed.


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  • #12
    billy few mates
    Registered Users, Registered Users 2 Posts: 6,807 ✭✭✭billy few mates


    It's going to be the best part of €20k (hopefully)...


  • #13
    blackbox
    Registered Users, Registered Users 2, Paid Member Posts: 5,759 ✭✭✭blackbox


    I took a cash deposit of 10% to hold car for a week - signed a receipt to state that.

    Buyer transferred balance to my bank account.

    When I confirmed that funds were in my account I rang buyer to confirm.

    Buyer came and collected car. Gave receipt for balance.


  • #14
    billy few mates
    Registered Users, Registered Users 2 Posts: 6,807 ✭✭✭billy few mates


    blackbox wrote: »
    I took a cash deposit of 10% to hold car for a week - signed a receipt to state that.

    Buyer transferred balance to my bank account.

    When I confirmed that funds were in my account I rang buyer to confirm.

    Buyer came and collected car. Gave receipt for balance.
    That sounds like a good plan if they’ll agree to wait.
    What other safeguards should I take, would it be a bit paranoid to ask for ID and proof of address before engaging in any dealings with them?

    Also I’ve had one enquiry from someone who seems really interested in the car, he’s asked for a scanned copy of the log book before he comes to see it, is that unusual...?


  • #15
    CiniO
    Registered Users, Registered Users 2 Posts: 16,041 ✭✭✭✭CiniO


    billy few mates wrote: »
    That sounds like a good plan if they’ll agree to wait.

    I think most buyers wouldn't agree to that.

    What guarantee they have, that after leaving deposit with you, and then transferring rest of the money to your account, you suddenly won't disappear with the car.
    As I said - for me for private car sale it's cash only, regardless if I'm buying or selling, or if it's €500 car or €50,000 car.
    Buyer pays cash on the spot and seller gives a car to the buyer on the spot. Simple and straight with very little options for any scams.
    Cash is king.

    What other safeguards should I take, would it be a bit paranoid to ask for ID and proof of address before engaging in any dealings with them?
    Asking for ID, while probably rare wouldn't be anything out of ordinary.
    Asking for proof of address sounds a bit like an overkill. I would be very surprised if private seller asked me for it.
    Also I’ve had one enquiry from someone who seems really interested in the car, he’s asked for a scanned copy of the log book before he comes to see it, is that unusual...?
    I don't think it's unusual.
    I'd send him a scan, but blackout all personal data like name, address, reg cert serial number, etc... Ideally just provide page 2 (out of 4).


  • #16
    qhe0i9zvfgdou8
    Closed Accounts Posts: 422 ✭✭qhe0i9zvfgdou8


    the_syco wrote:
    When I sold my Corolla for whatever it was, they paid in cash, and I inputted it into the automated bank machine. Once it all went in, I handed over the keys, had him fill out the log book, and I then posted the log book.


    Would the machine recognise counterfeit notes yeah ?


  • #17
    the_syco
    Registered Users, Registered Users 2 Posts: 37,310 ✭✭✭✭the_syco


    Johanna Hissing Kettle wrote: »
    Would the machine recognise counterfeit notes yeah ?
    Yup. Well, it inputted the money into my account there and then, so most likely.


  • #18
    razorblunt
    Registered Users, Registered Users 2 Posts: 17,300 ✭✭✭✭razorblunt


    Only sold two cars privately.

    First was easy as he was AIB and so was I, quick and painless. He saw me post the change of owner slip too in a postbox.


    Second was easy too but it was in cash this time. Took the usual precautions, asked to borrow a pen from the cash room in work and checked the notes. The buyer was fine with it. Safety wise I had a colleague wait in his own car in a spot opposite where I'd parked, thankfully there's a public car park next to my office. Did something similar on the test drive side of it, used a super market and a friend parked close to the entrance watching.


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