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Selling Advice


will

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Hi Guys, we are just about to advertise my friends Lotus 7 Series 2 in Classic Car Weekly. If we are lucky enough to find a buyer whats the process most of you adopt before releasing the car.

 

If it sells it will fetch a nice sum so I'm interested in how we make sure the funds have cleared and do we give the buyer anything ie log book as a token that we too are legit.

 

Thanks for your time

 

Will

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Guest scrabster

hi,the only thing i would part with is a reciept for the deposit.definatley not the log book.just wait for the funds to clear unless they bring cash.

jess.

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I sold my tin top on ebay late last year. The guy turned up with cash as agreed, I organised with my local post office to have the cash checked while out on the test run. His first reaction was fine which left me confident and yes it all checked out fine in the p/o.

Bank it quick though as some people have had 'visits' not long after selling cars privately for cash.

Cheers

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When I sold a car last year I took a cheque and agreed that the car could be collected one week later to allow for clearance of the cheque.

 

Put the cheque through on express clearance.... bad idea because his bank claimed not to have received the cheque, despite my bank saying that someone had signed for it!

 

Ordinary clearance isn't much better either, they can still come back unpaid after more than 3 days because the banks still rely on royal mail to send back an unpaid cheque.

 

In the end he brought cash but I was sweating until I had banked it.

 

So when I went to buy a car last month, I went on a weekday, arranged with the local branch of my bank for withdrawal of the cash, took the seller with me when I withdrew the cash and went staight to his bank to pay it in. Then I drove the car home!

 

So apart from saying cash to the bank (or bank transfer), take care!

 

Malcolm

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