Selling Cars and Bankers Drafts

Noxis

Noxis

Noxis

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Surrey
(woot, topic rhymes)

Anyway - I have a interested party in my car, we have arranged for him to come tomorrow at 9am. He (claims) to have a Royal Bank of Scotland bankers draft to the value we have agreed over the phone.

Now I know a bankers draft is as good as cash.... assuming it is not fake. The car was advertised on Pistonheads and all contact so far has been via email apart from one call he made to me from a withheld number.

Just to clarify I have been given no reason to doubt him, except I requested I wanted to wait for the bankers draft to clear before signing the car over to him. And he (quite rightly) only wants to make one trip (Essex -> Croydon) to pick the car up.

Just looking for advice and options on how to approach this.


Edit: My last reply to him was just to request the branch he took the bankers draft out in.

Just to make the point I have had NO reason to think that this isnt 100% genuine. Seemed like a nice chap on the phone.
 
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be very careful, there has been loads of fraud regarding bankers drafts that clear, then unclear and you're down on the money.

I would personally only accept cash

witheld number sounds dodgy
 
Hate said:
be very careful, there has been loads of fraud regarding bankers drafts that clear, then unclear and you're down on the money.

I would personally only accept cash

witheld number sounds dodgy
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Its a bit much for cash.

Banks are open until about midday on a saturday.
 
Ring Peace said:
Both of you go to the bank to deposit the bankers draft, once teller has checked the draft and entered into your account the money is yours.
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That's what I'd do.

This is what worries me I when I try sell my car, how to make sure you don't get ripped off.

Problem is when I was buying, I wouldn't have paid the whole amount in cash for fear of getting mugged. So I used a bankers draft myself.

Guess you just have to have a little trust in people (which makes it dangerous :( )

Good luck with the sale. ;)
 
What about arrangeing a viewing on a week day and using CHAPS. When the money is in your account sign it over.
 
Just had a call from him, he is picking up the bankers draft now that he arranged earlier. I have his mobile number and the Royal Bank of Scotland branch he is going to.

Data protection likely means they wont be able to tell me anything should I phone them up. Unless any RBS employees knocking around ;) ;)

Heartily convinced he is 100% genuine but I still want to be careful.
 
NickXX said:
Absolute bargain mate - get down there asap!
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I was going to try tonight after work but I got a guy popping over to remove a small dent in a panel. Will have to be tomorrow, really think it will go quickly tho :(
 
Two things I would do,
1. Phone the issuing branch with the draft number. They should confirm they have issued that draft
2. A bit late, but you could have gone with him to a local branch and watched him get the draft over the counter.

most buyers i've dealt with are always happy with choice 2.
 
Remember if his draft is fake - you can't claim on your insurance for theft. It aint covered.

Be ultra carefull.

:)
 
Panic over, I just called his branch (number from yellow pages) and they have confirmed that he did just make out a bankers draft to me for the sum agreed.

Slim chance that he will still just give me a fake but there is always the slight risk I guess.
 
Check it with the bank when you have it in your hands

I usually pay by banker's draft when buying a new car as I don't like having a large sum of money on me. If it's legit he shouldn't have any problem with it
 
Demon said:
2. A bit late, but you could have gone with him to a local branch and watched him get the draft over the counter.
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Yep this is what happened when I bought my Z4.

Noxis said:
Panic over, I just called his branch (number from yellow pages) and they have confirmed that he did just make out a bankers draft to me for the sum agreed.

Slim chance that he will still just give me a fake but there is always the slight risk I guess.
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Sounds like you're sorted, as you say there is always a small element of risk.

HEADRAT
 
HEADRAT said:
Yep this is what happened when I bought my Z4.



Sounds like you're sorted, as you say there is always a small element of risk.

HEADRAT
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I think i'll still take him with me to my bank to pay it in. My bank is 2min down the road so shouldnt be a problem.
 
My brothers friend was paid 4 grand with a bankers draft. Unfortunately it was stolen in a bank robbery in ireland and scotland yard were interviewing everyone. It was for a quad bike, so that just dissappeared. I'm not sure how secure they are.
 
You seem to have done as much as can be done other than refusing anything but cash - even then though there is an element of risk of it being funny money.

As for the Cargiant BMW, if there are no photos it is likely it is in there preparation area (cue 50 eastern europeans attacking the car with wipes, its a sight to be seen at CarGiant).

As for Cargiant themselves, it's a good place i got the MG from there - no price haggling whatsoever, test drives require you to go through a process of filling in information - even then the testdrive is about exciting as a erection in an all boys school.
 
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