How does a private vehicle sale work?

[DrPhill]

I mean, several thousand pounds worth of sale. It seems that cash or direct transfer are generally preferred.

Although most people are honest and law abiding, I can see potential problems with either approach.

Has anyone here got any advice?

I would appreciate any thoughts or experiences that you have had.

Phill

 

[sunnybob]

no cash no ride.
always worked for me.
Apparently the law dont like transactions over 10K in cash as they think its drug money, but up to that level, count the readies.

 

[woodshavings]

the law dont like transactions over 10K in cash as they think its drug money, but up to that level, count the readies.

Yes, but make sure they are not forgeries.
John

 

[DrPhill]

Hmmmm, thanks, but I was not clear - I will be the purchaser.

Carrying quantities of cash to someone else's house seems risky. How do I ensure that the transaction goes ahead once a bank transfer has put my money irrevocably in someone else's account?

 

[porker]

I understand your caution. I would take the advice on here http://www.thecarexpert.co.uk/paying-cash-for-a-car/. I sold a car for 12k by going to the bank with the purchaser and it was probably the safest and easiest way. Personally I wouldn't trust anyone and if they don't want to play ball I would walk away.

Classic scams are - Counterfeit currency - part or all, selling from a car park or 'near' their supposed house. Bank transfers that aren't (do you know what a bank transfer looks like?).

If selling though, not letting the car go until the funds have cleared is 100% correct.

 

[Wuffles]

Hmmmm, thanks, but I was not clear - I will be the purchaser.

Carrying quantities of cash to someone else's house seems risky. How do I ensure that the transaction goes ahead once a bank transfer has put my money irrevocably in someone else's account?

As long as it's not Shepton Mallet you'll be alright*
Or Bridgwater^

What's the value? You can transfer whilst you are mobile these days, just remember you might need a card reader and a laptop for a new payee, all depends on your bank.







*Alright, I don't want to fight you, and I'm using small words ok?
^I can't fight you anywhere near water, your webbed fingers give you too much of an advantage.

 

[oakmitre]

There was a lot of attention on gumtree a couple of years ago. It was either advertise an expensive item and mug the buyer or visit the seller and steal the item, usually with an accomplice nearby to create a distraction.

If someone is not willing to go into a bank with you, I wouldnt bother. As a buyer I would certainly understand the need to attend the bank, plus it is full of CCTV.

 

[DrPhill]

Thanks for the link.... that may well help.


Dont know Shepton, but Yeovil might be worse: https://www.youtube.com/watch?v=kd3Q6WqA3iM ;-)

 

[Wuffles]

Thanks for the link.... that may well help.


Dont know Shepton, but Yeovil might be worse: https://www.youtube.com/watch?v=kd3Q6WqA3iM ;-)

I bought an old pub pool table from Yeovil quite cheap. They thought it was witchcraft how the balls would all get stuck in the "magic box" except the white ball.

 

[Wuffles]

Good song by the way, BM101 would love that.

 

[RobinBHM]

And of course when buying do some research, HPI check etc etc. Its possible to find information online from the reg no these days.

 

[Sheptonphil]

As long as it's not Shepton Mallet you'll be alright*
Or Bridgwater^

What's the value? You can transfer whilst you are mobile these days, just remember you might need a card reader and a laptop for a new payee, all depends on your bank.


*Alright, I don't want to fight you, and I'm using small words ok?
^I can't fight you anywhere near water, your webbed fingers give you too much of an advantage.

And this statement from someone from a village where they still eat their young if the father isn't kept out the birthing room! You don't pull stunts in Shepton and win cus we're cleverer than you.

Phil
(Sheptonphil) may give you a clue.

 

[Wuffles]

As long as it's not Shepton Mallet you'll be alright*
Or Bridgwater^

What's the value? You can transfer whilst you are mobile these days, just remember you might need a card reader and a laptop for a new payee, all depends on your bank.


*Alright, I don't want to fight you, and I'm using small words ok?
^I can't fight you anywhere near water, your webbed fingers give you too much of an advantage.

And this statement from someone from a village where they still eat their young if the father isn't kept out the birthing room! You don't pull stunts in Shepton and win cus we're cleverer than you.

Phil
(Sheptonphil) may give you a clue.

Lol. I'm not from here, luckily

 

[tomatwark]

If you are really not sure about doing a private purchase, have a chat with one of the local garages, some will for a fee do the deal for you.

Yes it will mean you pay more, but they will have insurance against fraud.

A customer of mine did this and the car passed HPI etc, a few weeks later the police turned up and broke the news that his new pride and joy was in fact a clone and they were taking it away.

The dealers insurance paid out and my customer got his money back.

A clone may not show up on a HPI check.

 

[Wuffles]

A lot of the hpi checks will insure you if you give them the vin number and follow the prescribed procedures.

Shepton Phil, you know I'm funning right?

 

[Sheptonphil]

A lot of the hpi checks will insure you if you give them the vin number and follow the prescribed procedures.

Shepton Phil, you know I'm funning right?

Absolutely, even Sheptonions have a sense humour. :evil:

Come the revolution.

Phil

 

[Wuffles]

I've always liked the kebab shop in the car park of the pub I've driven past a few times. Not your local I hope.

 

[Sheptonphil]

Good old Speedy's.

He's aspiring to get a star in the food hygiene ratings, came close to getting one last inspection.

Burgers still don't taste bad after a few pints in the Charlton though, so stars aren't everything.

 

[DrPhill]

If you are really not sure about doing a private purchase, have a chat with one of the local garages, some will for a fee do the deal for you.

Yes it will mean you pay more, but they will have insurance against fraud.

A customer of mine did this and the car passed HPI etc, a few weeks later the police turned up and broke the news that his new pride and joy was in fact a clone and they were taking it away.

The dealers insurance paid out and my customer got his money back.

A clone may not show up on a HPI check.

Thanks, That is an interesting idea. Should the dealer be local to me or local to the vehicle, I wonder?

 

[RogerS]

If you ever go down the selling for cash route then always but always count the money...no matter how 'nice' the buyer seems. Many years ago we sold an old Sprite for £1250. The buyer handed me a wodge of cash - mainly tenners - fully expecting me not to count it as there were so many notes. But I did. It was £50 short.

"Oh, silly me", he said reaching for his back pocket and pulling out a £50 note.