selling car, safest way to transfer $?

[Box]

hey guys just wondering when you guys sell your car, what way to go about it to ensure that you get the money?

when I sell a car I usually ask for cash, I never trusted cheques before because I have always heard stories about cheques bouncing

[bennjamin]

go with the person to their bank , witness them to print out an official bank-cheque for you. This (unless the bank is in on it too lol) is good as cash. (bank cheque is X funds held exactly for that )

[Drifter995]

If somebody gives you a cheque, tell them you'll hold the car till the cheque clears.. they should understand, if it doesn't clear, you still have the car. if it does, hand them the keys.
if they get angry at this, tell them it's either cash or no car. :D

That's what i'd do, anyway :3

[Box]

If somebody gives you a cheque, tell them you'll hold the car till the cheque clears.. they should understand, if it doesn't clear, you still have the car. if it does, hand them the keys.
if they get angry at this, tell them it's either cash or no car. :D

That's what i'd do, anyway :3

that's what I do....when I tell them they have to wait till the cheque clears they get all upset and they go on about it being a bank cheque and this and that and I tell them it takes like 2 days for a cheque to clear....

[khanguskhan]

You do not need to wait for the back cheque to clear, if it's a BANK CHEQUE, money is taken from the account and already placed on that cheque and you are entitled to the money. IF it is a personal cheque, then you need to wait for it to clear. When I purchased my car I did it via bank cheque. the seller requested BANK CHEQUE. when it's a bank cheque it's pretty fail safe exactly like how bennjamin said.

Unless the bank is in on it. You will not lose the money.

[hondapop]

1 rule I have learnt when selling anything. Money written on anything that is not cash is not cash. ALL cheques, money orders etc etc take time to clear, Paypal is not even safe, i.e. if you allow the buyer to take possesion because you get a receipt from paypal, they can cancel the payment and you lose both item and money.

DO NOT allow possesion until the cash is in your hand or it has definitely cleared into your a/cc and is AVAILABLE FOR WITHDRAWAL.

[khanguskhan]

I'm not trying to fight with you, but I hope you know the processes of obtaining a bank cheque. If it's any other form if payment. E.g. internet banking, credit card, paypal, telephone wire. It can be canceled. But the process of canceling a bank cheque isn't as easy. Hence it is one of the best forms of payments when buying and selling cars. When I went and got a bank check recently, I witnessed the money being withdrawn from my account and placed into the bank cheque (commonwealth bank's account?). And there is only 1 copy/check. And that gets handed to the seller. for you to go back to the bank to cancel it WITHOUT the cheque in your hand. I'm sure you would be going through a heap of work, to cancel a 15-20 grand bank cheque.

The bank will not just cancel it on the spot..

[IV73CI]

Paypal FTW ... lol

yeh as others said ... go with the buyer at the bank ...and ensure its a bank cheque and not personal check.

otherwise if hes a baller - then cash for keys ftw!

[dnapol]

I bought mine with bank cheque, exchanged the car on transfer of cheque

[hondapop]

I'm not trying to fight with you, but I hope you know the processes of obtaining a bank cheque. If it's any other form if payment. E.g. internet banking, credit card, paypal, telephone wire. It can be canceled. But the process of canceling a bank cheque isn't as easy. Hence it is one of the best forms of payments when buying and selling cars. When I went and got a bank check recently, I witnessed the money being withdrawn from my account and placed into the bank cheque (commonwealth bank's account?). And there is only 1 copy/check. And that gets handed to the seller. for you to go back to the bank to cancel it WITHOUT the cheque in your hand. I'm sure you would be going through a heap of work, to cancel a 15-20 grand bank cheque.

The bank will not just cancel it on the spot..

I wasn't fighting. The OP (as a seller, not a buyer as you were in the example you've given) still has to deposit that cheque to his A/cc and it must then go through the system and be cleared. I wouldn't argue that it's probably the safest way for you as a buyer to transport the money to the seller, but the seller is still at the disadvantage of having to wait for those funds to clear. It would be simpler for the buyer to just deposit the money straight to the sellers A/cc and then the seller notify him/her when the funds have cleared.

I stand by my rule.

[dougie_504]

I know of false bank cheques (genuine looking) that have cost people thousands.

Just wait til it clears, so simple...

[khanguskhan]

I wasn't fighting. The OP (as a seller, not a buyer as you were in the example you've given) still has to deposit that cheque to his A/cc and it must then go through the system and be cleared. I wouldn't argue that it's probably the safest way for you as a buyer to transport the money to the seller, but the seller is still at the disadvantage of having to wait for those funds to clear. It would be simpler for the buyer to just deposit the money straight to the sellers A/cc and then the seller notify him/her when the funds have cleared.

I stand by my rule.

I see where you're getting at, I too suffered from this issue when I sold my car. (Buyer not trusting to netwire me the money, before her uncle picks it up.)

If only the world wasn't so dodgy lol

[Lazarus]

Just to be safe, bank check or not. Best to just wait till it clears..really only takes 2 days and if the buyer makes such a fuss about it...then tell em to either wash the sand out of their vag and calm down and wait the couple days..or cash or no car..

Always best to take the safe route when dealing with money..

[Box]

^ agreed

[mocchi]

^ agreed

[IV73CI]

If the buyer is really worried that youll take off with his hard earned/loan money, then just give half of the car keys.

Say youll get the other half when the cheque clears. Lol

[Raztaz]

Buyer of my old car came with a stack of cash lol. I also went and got my current car with 75% cash rest on bnck chq

[gach2]

I got a rule of cash only, even the sum is large i tend to get take them to my local shopping centre (have most branches there) and allow them to withdraw and then go my to branch and sort out paperwork over there then deposit the cash immediately.

Many stories of fake bank cheques in the past

[chauster]

Cash only y0!

[Mikeyy168]

I bought my ep3 with a bank cheque. Seller came with me to get the cheque. If I can remember right, they ask questions - why are u taking money out - buying car, what's the persons name that ur buying it off, what's the persons name that the cheque is going to etc. best way to buy/sell a car I reckon!

[GU357]

Ok, heres the plan.

Get a spare set of keys made, as well as an explosive disguised as a honda keychain.

Park your car in a remote area. away from civilians.

Kidnap their child (only one is required) and then slip the spare keys into the childs pocket (whilst the child is unconscious).

Hide the child in a Van which you have parked in the city (the van should be left in clear view from a nearby rooftop)

You then let the person buying your car put the money in a suitcase and leave it in the van which you have left unlocked in the city.
the buyer then takes their child (without knowing the keys are in the pocket), and leaves the suitcase of cash.

With a sniper rifle, watch him from a the near by rooftop to make sure he doesn't run off. it will also be usefull for pecking off police or diplomats in the area.

When the coast is clear inspect the suitcase to make sure the money is there.

If the money is there:
send a text; Telling the man where to pick up the car, and that the keys are in his childs pocket. also mention to remove the explosive honda keychain.

DONE.

If the money is not their:
remotely detonate the Honda Keychain which will bring the death of his child,
then send a text saying: "now you know im serious, ill give you another chance to buy the car"

this plan is great because that way the buyer doesnt die and is still capable of purchasing your car.

WIN!

[khanguskhan]

^^^ Win