selling car payment method?

Bank transfer can be instant if you’s are both with the same bank and the buyer has set you up as a payee. Revolut is instant too.

Bank drafts can’t bounce like cheques, but they take a few days to show in your account.

Nothing to be nervous about. Just take a bank transfer and you’ll be fine.

I had to buy a car recently and wanted to pay full amount in Canadian dollars. I asked the bank to unfreeze the said amount for that particular transaction an hour before I effected my Interac payment at a dealership.

Be careful with bank transfers I know of incidents where said buyers have shown screenshot of transfer of funds to an agreed account only to discover money didn't make it into the sellers account and were left without anything

Yes I already said it takes a few days. But they can’t bounce like cheques. The money is debited from the buyers account when they take out the draft, you can’t just get one when you have insufficient funds.

Cash or bank transfer is better like I said. No need to over complicate things

I sold my car for €17k about 2 years ago & did bank transfer. Could only transfer €10k in one go so he transferred the initial payment to me & then left his work details & home address with me & transferred me the rest the following day.

Who said I did? I just said I got his details. I also gave him mine & did the second viewing of the car at my house so he knew where I lived. He transferred me the initial amount of €7k in the evening, left & came back the next morning to transfer the rest (in front of me) & collect the keys, car & log book. But again he probably go told he was stupid transferring me that amount of money & not getting anything. It had to work on a level of trust at that point.

Notes easy to fake as well.The buyer could be "just looking over the car" one last time while you check the notes and gone.

I did actually send it off myself. Mistyped in that he didn't collect the log book but I filled in the details with him there to send it off that day. But yeah that does surprise me as surely it's more in the new owners interest to send it off than the seller at that point.

The people accepting them? The bank aren’t going to accept fake notes, and their ATM machines certainly aren’t going to accept them either. When I worked in retail there was a couple of fake notes every now and again, but in all my years selling cars professionally I have never been stung with one

Thanks. I’m unsure how any of those people are in any way related to selling a car for cash. Anyway, since they are so easy to spot, it shouldn’t be an issue then.

Just call the issuing bank to confirm validity. Once it's known to be real it's virtually risk free.

In fairness €12k is not a big pile of cash - it's just 240 x €50 . If it's in bundles of €1,000 with elastic band it's easily counted…………and recounted😊