Selling my car, safest form of payment to accept?

furman

furman

furman

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Joined
15 Dec 2002
Posts
404
Hi,
I am selling my car for about £10k. Any advice on the safest form of payment to accept? I woule like cash only but is a bankers draft a good as a cheque? I have heard of these cheque scams where the account is closed after 2 weeks and the cheque gets cancelled.

Never sold anything that valuble before so I am a but worried.
 
A bankers draft is safer then a cheque because it draws upon the funds of the bank, not the individual.

That's not to say they're 100% safe, but better then a personal cheque.
 
Tk7 said:
That's not to say they're 100% safe, but better then a personal cheque.
Click to expand...

Apparently bankers drafts can be forged, and even after you've cashed them they can be withdrawn (if they were stolen).
Cash is apparently the only safe method, watch them withdraw it and walk to your bank etc.
 
When I sold our 318ci I went to the bank with the buyer and he transferred the money from his Nationwide account to my Nationwide one. I would only accept a bankers draft if I saw it being issued by the bank.
 
I would be bricking it carrying 10 grand around... The most I've ever carried on me in cash is £2200 and I felt extremely nervous then :eek:

I daresay a lot of other people would be the same. I'm debating how I'm going to pay for my next car if I buy private - probably go for a viewing first, check the car out, then second time go along with a few tasty mates when I take the cash.
 
in this day and age its getting a bit of a joke that the only thing you seem to be able to trade with is cash, else you stand a fairly big chance of being scammed, something needs to be done about it.
Definately go with cash though, but then you have got to be careful for arranged muggings and robberys etc =/
 
I'd go for a direct transfer to your bank, it's easy for them to do and as far as I know it is pretty safe, you could always make a note of drivers license # or something.
 
If you phone the bank which issued the draft to check its bone fides, then a bankers draft is fine. But never accept one without the phone call. Which obviously means that you need to carry out the transaction during banking hours.


M
 
Meridian said:
If you phone the bank which issued the draft to check its bone fides, then a bankers draft is fine. But never accept one without the phone call. Which obviously means that you need to carry out the transaction during banking hours.


M
Click to expand...

But dont use the phone number on the cheque!
 
Johnny Girth said:
I hear that Western Union method is top notch. My friend Kenji Ogyuwamba is always dancing and singing about it.
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Receiving money from Western Union is absolutely safe... sending money on the other hand isn't, basically because it is very difficult to trace, so you should only send money to someone you know in real life. (It's a great way to send cash to a relative that doesn't have a bank account in some far away place, for example) :)
 
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