Jump to content

Selling a car
Best method of payment


  • Please log in to reply
11 replies to this topic

#1 Gumbette

Posted 14 November 2012 - 09:27 AM

I'm getting down to the nitty gritty end of selling my car now.  I have a problem though, as both potential buyers are from interstate and would like to take the car with them immediately upon payment.  I have heard there is potential for a bank cheque to be fake, so they offered to give me cash on the spot.  It will be a weekend so how would I count out $45K in cash  ffear.gif and then there's the problem of having that much money in the house and having someone external know this.  However... I feel bad asking these people to drive back again in 3 days time to pick up the car, especially as they have young children.

#2 SeaPrincess

Posted 14 November 2012 - 09:30 AM

You could ask them to do a bank transfer ahead of time, allowing time for it to show up in your account.  This is what we did when we sold our camper.  The buyer paid a $10,000 deposit, then the balance a couple of days before pick-up.

R

#3 PrincessPeach

Posted 14 November 2012 - 09:35 AM

I know this sounds silly & very over the top, but if I were you I would be arranging to do the sale at your transport department (on a Saturday morning) & then go in with them & lodge the transfer of ownership papers then & there.

A friend of my brother got burned badly when he sold a car privately & the new owner didn't bother to lodge the transfer papers. (the new driver was done for speeding). It took him quite a bit to prove he has onsold the car & this is the advice the transport department gave him.

As for the cash problem - check to see if your bank have a branch that opens on saturdays - do the transfer & head over to the bank & deposit the cash!

Edited by PrincessPeach, 14 November 2012 - 09:36 AM.


#4 tothebeach

Posted 14 November 2012 - 09:49 AM

QUOTE
I have heard there is potential for a bank cheque to be fake, so they offered to give me cash on the spot.

Where did you hear about fake bank cheques?  We paid for a camper (35K) and our car (40K) both with bank cheques and took them straight away.   Maybe we just look trust worthy!  There is absolutely no way that I would hand over either cash or a bank cheque and not walk away with the car.   And I would not transfer money to a bank account in advance either.

We also sold a car but only for $15K and the seller paid us cash.  We just took it to the bank on the Monday.

#5 Gumbette

Posted 14 November 2012 - 10:14 AM

QUOTE (tothebeach @ 14/11/2012, 10:49 AM) <{POST_SNAPBACK}>
Where did you hear about fake bank cheques?

Police told us this when I sold my last car - from memory they weren't fake, but stolen (it was on the news I think),  so the buyers were happy to wait until the cheque cleared, they didn't bat an eyelid when I suggested it.  

I have found a bank near us that is open on Saturday's so have suggested to the buyer he can meet us there, look at the car and take it straight away - thanks PrincessPeach.

#6 unicorn

Posted 14 November 2012 - 10:16 AM

Do they do postal money orders for that much? They have to have the dollars to pay for them and you can ring Aust Post and confirm that it's legit.

#7 Phascogale

Posted 14 November 2012 - 10:39 AM

QUOTE
A friend of my brother got burned badly when he sold a car privately & the new owner didn't bother to lodge the transfer papers. (the new driver was done for speeding). It took him quite a bit to prove he has onsold the car & this is the advice the transport department gave him.
I'm pretty sure you can still lodge your half of the paperwork that indicate that you have sold the car.  You just need to make sure that you have the details of the new owner.  I don't think everyone does this and it may also depend on your state.

#8 *LucyE*

Posted 14 November 2012 - 10:42 AM

I would do the meet and handover at the Transport Department.

Then, if they were willing to hand over cash, I would go directly to a bank branch that was open on a Sat or enquire about the night deposit system at your bank.

Personally, I don't see a buyer willing to have that much cash on hand or be willing to direct deposit ahead of time. I know I wouldn't. I'd go with the bank cheque and only if it was made out to me.

#9 Gembac8019

Posted 14 November 2012 - 10:52 AM

QUOTE (unicorn @ 14/11/2012, 10:16 AM) <{POST_SNAPBACK}>
Do they do postal money orders for that much? They have to have the dollars to pay for them and you can ring Aust Post and confirm that it's legit.



Aust post don't do it for that high of an amount.

#10 HIH.GD.Isolabella

Posted 14 November 2012 - 10:58 AM

Cash will require extra forms and paperwork at the bank. Any cash over $10k needs to be logged (anti money laundering).



#11 qak

Posted 14 November 2012 - 11:02 AM

Are the buyers willing to carry that much cash around with them  ffear.gif

#12 FizzlingFireboxes

Posted 14 November 2012 - 11:37 AM

I would ask them to do a bank transfer a few days before so it clears first.

We sold a car not  wasnt keen on a bank cheque, because they can be cancelled. The bank said most people wont cancel the cheque because they have to pay for them first but you never know.

Ours buyers ended up bringing cash.




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

Get your FREE Baby & Toddler Show ticket!

Get your free ticket to the Sydney Essential Baby & Toddler Show for September 25-27 - register online now.

Win Love Child Season 1 & 2 on DVD

To celebrate the release of Love Child Season 2 on DVD from July 9, Essential Baby and Universal Sony Pictures Home Entertainment are giving away Love Child Season 1 & 2 on DVD to 13 lucky winners.

10 things I wish my pre-baby self knew

I look back at my pre-baby self and laugh at how ridiculously easy I actually had it. I remember complaining about how tired I was and how little time I had.

Creative ways to store your child's art

Ideas for storing your child's artworks have moved on from sticking them to the fridge door before guiltily dumping them in the bin.

Child abuse ignored because 'it's not your children': Waleed Aly

Waleed Aly takes apart the immigration law that's designed to "protect politicians"

How a newborn niece changed star Australian basketballer's life

In August 2013 star basketball Abby Bishop was 24-years-old and in the prime of her sporting career.

Guilt is my new shadow

No one warned me that when I gave birth there would be an additional side order of guilt.

12 brilliant Ikea hacks for kids’ rooms

Check out these creative upcycling ideas that transform regular Ikea items into something special for your little ones.

Child's nightmare about 'man with a light' turned out to be real

For three days, a three-year-old boy had been saying there was "a man with a light" outside his window at night.

Toilet truths after giving birth

The thought of going to the toilet after giving birth is often feared, but there are ways to make it less painful.

Woman asks strangers for $1 million to stop her having an abortion

An anonymous woman is taking an extreme moral and ethical stand by seeking $1 million in donations to prevent her going ahead with a planned abortion.

How a woman's dying wish made another woman a mum

"I kind of think about, 'What did I do beforehand? What kept me so busy back then?' Because now I'm really busy."

The parenting do-over: what six parents did differently second time around

In playgrounds across Australia, you can hear parents lamenting, "When we have our next baby I swear I won't be doing THAT again".

A solo birth, a wasp swarm and a forest fire: mum and baby's amazing story of survival

Desperate, out of petrol and low on food, a new mother lit a fire in the hope of attracting attention.

Boy found on swing died of hypothermia and dehydration, autopsy finds

The story was chilling and heartbreaking: a three-year-old boy was found dead in a Southern Maryland park, his mother pushing him on the swing.

Child's play and laughter help battle fatigue

Feeling fatigued? Uh-huh, thought as much. Join the queue.

Dad shares entertaining 'how to hold a baby' clip

For many new dads, their own child is the first baby they have ever held. So one dad has posted an instructive YouTube video titled "How to Hold a Baby".

The Australian baby with 100,000 Facebook fans

She may be only eight months old, but Egypt has already amassed more than 100,000 fans and received a letter from royalty - Hollywood royalty that is.

Tongue tie: what you need to know

Tongue and lip tie can lead to many problems for babies - and their parents. Here are the signs of tongue tie and how it's treated.

My daughter is small but that doesn't matter

My daughter may be small, but it's my job as her parent to refocus back where it belongs - on who she is as a person

Wet wipes linked to rise in allergic reactions

The government has issued a health warning after a rise in allergic skin reactions has been linked to a preservative found in some wet wipes.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

27 funny ultrasound pictures

Ultrasounds give you a look at your growing baby ... and sometimes what appears to their womb-buddy, or your bub in an amusing position.

What all parents should know about safe babywearing

A picture of Ryan Reynolds always gets the girls talking, and a recently shared photo has done exactly that - but this time, it's for all the wrong reasons.

Baby's head shape reveals potentially fatal condition

Thinking her baby just had an unusually shaped head, a mother was shocked to discover it was instead linked to a dangerous condition.

Why IVF success rates may not be what you think

Transparency, accountability and responsibilityare essential measures to protect IVF vulnerable patients.

Mother-in-law 'from hell' inspires survival guide

The happily ever after Nicola Milan had imagined wasn't to be – and she blames her mother-in-law.

Owning a pair of nail scissors does not make me a hairdresser

It's been a whole year since sleeping in until 10am. A whole year since having a peaceful shower.

The 83 children who were tragically let down in the last decade

Over a 10-year period, 83 children died from domestic violence abuse in NSW, with three quarters of the victims aged five years or under, the NSW Ombudsman has revealed.

Is it reasonable to expect your partner to give up drinking in pregnancy?

From the moment that I fell pregnant with my son, I realised just how much my life had already started to change.

Stroke victim joins class action against makers of popular contraceptive pill

"I was terrified I would always be this way. The pill needs to come with a much higher warning."

Sexy time

Why you should get excited about scheduling sex

Unfortunately, the belief that sex should always be spontaneous is a myth. It just isn't.

When newborn photoshoots get messy

When it comes to newborn photoshoots, it is all about the timing.

Expert Q&A: Gross motor skill development in toddlers and preschoolers

Dr Katie Heathershaw answers questions about jumping, toe walking, riding a bike and being pigeon toed.

'Samuel is our firstborn, and he will never be forgotten'

Having lost their firstborn at one day old, the Carrolls were overjoyed to welcome their daughter Isobel into the world a year later.

Dad takes miraculous catch while feeding baby

One American father has taken multitasking to a new level at a Cubs-Dodgers baseball game at Wrigley Field.

Name your baby Quinoa, win a $10K gift card

Choosing a name for your little bundle of joy is always a major decision. It can be something traditional, trendy, creative … or inspired by the menu of your favourite chain restaurant.

On the 10th anniversary of my son's death

This day marks a significant day. Today marks 10 years since I lost my son Kai.

'Help - my toddler hits me!'

My toddler has started hitting when he gets frustrated, is feeling ignored, or just thinks it might be fun.

The top 6 misleading parenting terms

From 'morning sickness' to 'the terrible twos', there are many parenting terms that are misleading.

When 'good' nannies go bad

While most nannies take pride in their work, there can be some who have a hidden side.

Woman hospitalised for skinny jeans injury

Beware: skinny jeans might be bad for your health.

Gauze seeding: the bacteria-breeding birth trend

A number of women having caesarean deliveries are now taking steps to give their baby a better 'microbiome' start in life.

Jimmy Fallon writes new children's book for dads

Jimmy Fallon, host of NBC's The Tonight Show, recently wrote a children's book about every father's secret wish for their baby's first word to be "dada" - not "mama".

28 names for babies born in winter

Looking for some baby name inspiration for a bub born during the colder months? Here are 28 options from around the world to consider.

 

FREE TICKET

Get your FREE ticket to the Baby & Toddler Show

Get your free ticket to the Sydney Essential Baby & Toddler Show for September 25-27 - register online now.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.