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 Glittery Fairy

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 VeritasVinum

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.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

 

Decluttering before Christmas: tips for managing the toy influx

Deciding how many toys you want to keep and enforcing a limit can help manage the sheer volume of playthings.

86-year-old taught himself to knit, now makes caps for premature babies

'Anything is possible if you put your mind to it' might just be the motto of 86 year-old retiree, Ed Moseley who despite his age and abilities has been gifting handmade knitted caps to premature babies.

Want healthy kids? Let them play in the mud, feed them allergenic foods - and get a dog

If you read about children's health, you've heard a lot of this before.

Photo captures mum's shock at delivery room surprise

Life can be full of surprises, but for this couple a surprise came in a very unexpected way.

Baby's family in law suit over RAAF base chemicals

A 10-month-old baby has been exposed to significant levels of toxic chemicals around a RAAF base near Newcastle, say his parents.

Childcare worker investigated after threatening toddler's mother

An early childhood teacher has been censured for serious misconduct after she threatened the mother of a young child.

Scottish baby names

Scotland, the wind and water-hewn land of the loch, the kilt and the heather. Bedecked in castles great and small, there are many Australians with Scottish heritage who could look to that fair country for baby name inspiration.

Do we need more parking spaces for parents?

The Give Me Space campaign is collecting stories from mums who have had difficult experiences while trying to find safe parking.

Gender neutral parenting: what it's really like

If you want to take a leaf out of Clare's book in gender neutral parenting, her advice is simple: "Follow the children's lead, and you can't go wrong."

The vital question no parent wants to think about

Since becoming a mother I sometimes wonder what would happen to my babies if their dad and I both died.

6 parents to stop judging right now

It's worth looking a little more closely at some common parenting missteps. Could it be these mums and dads are really just like you and me?

Ryan Reynolds shares delivery room tips for expectant dads

If your partner is heading to the delivery room any time soon, you've got to see Ryan Reynolds' video on dealing with the intricacies of the delivery room.

The trials and tribulations of teenage mums, 10 years later

Having her first baby at 16 was a shock for Simone Miller, but it's not something she regrets.

Grandma falls head over heels for baby - literally

Usually Valerie Sharp's plan to put her granddaughter into her cot works just fine, but when things go wrong it is hilarious.

My toddler wants all my attention all of the time - help!

This is a stage, and you and she will move through it. I can (almost) promise it.

Cotton On KIDS' cute new baby prewalker shoes

Oh watch out folks, Cotton On KIDS' baby range has just become even cuter with the release of its first ever prewalker shoe collection.

Why I love the superhero phase

My twins are heading towards three and have officially entered the superhero phase. It happened almost overnight.

I'm caught in a 'mumpetition' with my friend and I'm losing it

My best friend and I had children within a year of each other. She thinks her child is God's gift to the world.

A year of motherhood: my survival story

Motherhood burns you down, but it rebuilds you too.

Five traps to be aware of when reading IVF clinic websites

Clinics provide IVF success rates in often confusing ways because there is no agreed format on how this information should be presented.

 
Advertisement
 

Top 5 Articles

Advertisement
 
 
 

What's hot on EB

What pregnancy is really like: mums share their honest opinions

We asked real women what surprised them during their pregnancy. They've shared their experiences in the hope of preparing the rest of us better for the ride

The truth about big-headed babies

Research suggests that big headed babies become more intelligent than their smaller peers. One mum shares the positives and negatives of having a big headed baby.

How to encourage your baby's gross motor development skills

There are some everyday things that parents can do to improve gross motor skills and coordination.

'My baby's extra thumb saved her life'

A mum whose daughter was born with an extra thumb says that the extra digit saved her life.

He gave her his liver, she gave him her heart

Heather Krueger and Chris Dempsey's origin story began in a darker place than most: with stage 4 liver cancer.

Toilet training from birth? It is possible

This method, called elimination communication (EC or assisted infant toilet training), is becoming increasingly popular in the West.

Watch hilarious montage of strangest pregnancy questions on Yahoo Answers

Some of the strangest questions about pregnancy - and some of the most bizarre spelling - have made for a hilarious video.

How to reduce your chances of perineal tearing in birth

The use of heat packs, along with other aspects of clinical care, can reduce your risk of tearing in birth.

 

Baby Names

Unusual Celeb Baby Names

Click through the gallery to read the details and see some of the most memorable monikers in show biz families.

 
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.