[mummy.to.one]

We are about to put our car up for sale as DH has a company car. We haven't sold a car in years and last time we did it was only worth $1400 so they paid cash.

Are bank cheques safe? Or should we ask for cash even though we are hoping for around $10k? If they pay via bank cheque do we let them take the car or keep the car until the cheque has cleared?

For test drives, does DH go with them, which means we always need two of us home for someone to view the car as I have DS with me?

If you have sold a car recently what did you do?

Thanks we are pretty clueless as you can tell.

[ani1]

Give them the option to pay via direct deposit, bank check. However if they do pay via these methods, don't hand over car until money is cleared. With test driving ask to see their license, write down there license number and name. Let them go by them selves for the test drive.

[Charli73]

I drive him in my car then he drove a little also... He was keen to buy on the spot and had $9k cash which made me nervous but he gave me a deposit until I got the RWC done. We wrote out a little contract terms and price then signed it with names and numbers then he paid the rest in cash and was happy for me to count it in front of him. DH was worried it was counterfeit but if that were the case he wouldn't have waited a week for the RWC to get done he would have walked..
I'd prefer cash over a cheque, get a bank one rather than a personal one as it could bounce..

This post has been edited by Charli73: 17/06/2012, 01:51 PM

[JustBeige]

We have always tried to sell for cash. If the car still has finance on it, then you need to get a payout figure and get the buyer to make out a bank cheque for the payout figure to the finance company - it depends on the loan/finance. They can then give you the 'difference' in cash.

Bank cheques are NOT cleared funds any longer. You need to pay for a quick clearance on them. I wouldnt be releasing the car until this is done, however I would be signing some sort of written contract stating that XYZ has purchased the car with (include bank cheque details) for $$ and both signing it and both getting a copy.

You may need to give the purchaser some sort of other 'insurance' that you arent a thief either. Maybe a copy of the rego paper or something.

Another idea is the call the Police Assistance line and ask for their advice regarding your rights with releasing the vehicle/waiting for funds to be cleared etc.
.

[~kitteh.hoardere...]

Give them the option to pay via direct deposit, bank check. However if they do pay via these methods, don't hand over car until money is cleared. With test driving ask to see their license, write down there license number and name. Let them go by them selves for the test drive.

Definitely the license thing! If you have a scanner even better, I'd scan it! Then let them drive it. Well from my point of view, I want to drive the car and discuss with DF while I am driving what I think.

However re the bank cheque to clear thing, I understand not wanting to let someone drive away and then be able to cancel the bank cheque. However I am about to buy a car (once I get my insurance number) and I would not be willing to give someone $10k when I don't have the car.

Personally, I'll be taking cash to pay, if they don't want 12k or whatever then they don't want to sell their car very much.

[Lil Chickens]

Check with your insurance company re the test driving.

I remember a few years ago in Vic a guy had his expensive Subaru WRX stolen on a test drive and wasn't covered by insurance as he let them drive the car alone.

[Guest_Retro_Mumma_*]

No PayPal please, there are a lot of scammers going around at the moment, just advertise your car at carsales.com.au and you will understand what I mean.

They all say "ill pay you more than you want for the car, when can I pick it up?" then pay via paypal pick your car up and then cancel the transfer.

We sold our car 6 months ago and we used bank cheque.

I wouldnt let a stranger test drive my car without DH in it.

[Fabulous]

If they are going to test drive it you would need to check that their license isn't suspended/disqualified because if they crashed it then insurance wouldn't pay up.

[Holidayromp]

Firstly if they request a test drive, insist that you go with them but not by yourself. Secondly cash all the way. Sure there is a risk that you could get done over for having alot of cash on you but the risk is even higher with a bank cheque and the possible loss of the money PLUS the car you are selling.

I have sold a few cars privately and have never considered a bank cheque. It is a simple way to be scammed unfortunately.

Also few buyers will let you take the cheque wait for the funds to clear before getting the car they will just look elsewhere.

Selling vehicles do require alot of trust but these days especially in the recent past where there was a scam where people were buying big ticket items including car with bank cheques and just cancelling them straight after the transaction leaving the seller without their item and cash.

[mummy.to.one]

I was worried about the cheque being cancelled or no funds, thanks think I will request cash if we get a buyer. I wasn't sure if cash would be a problem for people but it's only a matter of going to the bank.

I hadn't even thought of PayPal as an option, but will stay clear thanks for the heads up.

I will make sure DH is home so he can go on all test drives.