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 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

 

Win a copy of 'Breakfast, School Run, Chemo'

To celebrate the launch of EB member and contributor Julia's Watson's first book, we have five copies of Breakfast, School Run, Chemo give away.

Electronic tags may keep newborns safe

The possibility of using electronic bracelets for mothers and their newborn babies is being investigated by Adelaide's Women's and Children's Hospital. 

Baby steps: when your little one starts walking

As a parent there are so many milestones to look forward to. That first smile, first word - and, of course, that first step.

Julia Watson's new book 'Breakfast, School Run, Chemo'

Tomorrow my friend Julia launches her first book. And while we're all overjoyed, the success is tinged with sadness. You see, Julia has stage 4 bowel cancer.

How not to name twins

Call me boring, but I don't think that when it comes to choosing my twins' names is the right time to use a good pun.

Fun Sunny Life pool inflatables just for babies

The babies of 2015 will thus be thrilled to paddle their happy baby legs in these brand new flamingo and swan baby inflatables.

Breastfeeding basics for beginners

Here are 10 tips to help make breastfeeding successful and stress free for both you and your baby as quickly as possible.

Girl smothers baby brother with peanut butter

This mum had a big clean up job on her hands.

How to hide those under eye shadows

Pandas are the only ones who benefit from under-eye shadows. If you're not fluffy and cute, you'll just look tired.

Young mum dies after being denied pap smear

A mother has died after she was denied a pap smear because she was deemed "too young" to need it.

Birthday cakes banned at childcare centre

A childcare centre in Sydney has banned birthday cakes after parent complaints about excessive sugar and children with allergies being left out.

Triplet surprise for newlyweds

As the radiographer moved the wand over her abdomen, Shelley King got the surprise of her life.

3 yummy Thermomix baby and toddler recipes

Louise Fulton Keats shares her recipes for babies and toddlers, including corn and sweet pikelets, pumpkin and pea risotto, and cheesy bunny biscuits.

Man arrested over toddler Nikki's death

A 31-year-old man has been arrested over the death of two-year-old Nikki Francis-Coslovich in Mildura.

Adoption ban on pregnant women to be lifted

Pregnant women will no longer be barred from adoption waiting lists in NSW, after the Baird Government decided the practice was discriminatory.

Are you getting enough magnesium?

Magnesium is the fourth most abundant mineral in the body, but we don't talk enough about it and the vital role it plays in great health and energy, as well as disease prevention.

5 workplace lessons for new parents

Take heart in these principles that will transfer seamlessly from the workplace into your new life as a parent.

Mums to follow on Instagram

A creative outlet for many, there are some savvy women complementing their blogs and businesses with riveting Instagrams feeds. We've chosen a few which have bucketloads of appeal; there are some big time players and some smaller local ones, and they each bring their special brand of magic to the Instagram experience.

Review: The Volvo 2015 XC90 SUV has all the safety features your family needs

The new Volvo XC90 SUV's focus on keeping you safe does not come at the expense of comfort in the XC90.

Kim Kardashian reveals she may have hysterectomy

Kim Kardashian has revealed complications during pregnancy means she might have to have a hysterectomy after the birth of her second child.

Why late night snacks wreak havoc on weight loss

 Loath as you may be to admit it, chances are that at some point you have found yourself in the kitchen late at night, devouring food.

Toddler twins pretend to be asleep to fool mum

They say twins have a unique connection. If this cute clip is anything to go by, these toddler sisters like to use their special bond to try to fool their mother.

Dad bags: 10 picks for out and about

Getting out of the house is a big priority in the early years of parenthood and you need to take a well-stocked kit with you. We've chosen 10 of the best nappy bags sure to appeal to dads in style and function.

Win a Mountain Buggy Swift

To celebrate Essential Baby reaching half a million Facebook fans, we have a Mountain Buggy Swift to giveaway to a lucky fan.

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.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Dads who do their share have more sex: study

For women trying to encourage their partners to take more interest in fatherhood, it could be the ultimate incentive.

Think you might have IBS, coeliac disease or Crohn's?

Conditions affecting the gastrointestinal tract are common in modern humans, and many are on the rise - including irritable bowel syndrome (IBS), inflammatory bowel disease (IBD) and coeliac disease.

Couple poses for newborn shoot with adorable puppy

Tired of being asked about their baby-making plans, Australian couple Matt and Abby decided to give a creative answer.

The exercises you know you should be doing (but probably aren't)

I bet your to-do list today is long. But somewhere on that massive list, are you making time for your pelvic floor?

This baby really loves the family cat

Some babies get excited when mum or dad come to get them from their cot after a nap.

Designer kids clothing good enough to eat by Oeuf

Even if you aren't heading to the Northern hemisphere in the next six months, you can't help but love the amazing food-themed knits for babies and kids by cult kids brand Oeuf.

Early exposure to peanuts recommended for allergy prevention

A paediatricians' group is recommending that infants at high risk of peanut allergies be given foods containing peanuts before they turn one.

Home brand foods contain less salt than pricier rivals

Supermarket home brand foods, long derided as cheap and inferior, contain far lower levels of salt than pricier, branded rivals, new research shows.

Nannies for hire, wherever you're flying

Ever dreaded the prospect of a long flight, dreaming about how wonderful it would be for a nanny to entertain the kids?

Couple poses for newborn shoot with adorable puppy

Tired of being asked about their baby-making plans, Australian couple Matt and Abby decided to give a creative answer: with an unusual photo shoot with their 'baby', a groodle (poodle/golden retriever cross) named Humphrey. The talented Elisha from Elisha Minnette Photography caught all the precious shots.

Is it okay to name your baby with a sense of humour?

My husband was sure that Danger was a good option for a boy. And as the pregnancy progressed, it actually started to sound really good.

Woman gives birth after having her own mother's uterus transplanted

In a world first, a healthy baby has been born from the same womb that nurtured his own mother.

So hot right now: double-barrelled baby names on the rise

It's one way to make your baby stand out from the pack – giving them not one, but two first names.

Second time around: is it really better the devil you know?

When I fell pregnant with my second child I was, naturally, very excited. Then it all started to come back to me - and I freaked.

Shopping with kids: breaking the pester-power cycle

You're out shopping with your little one and they're incessantly whining that they want a treat. It's easy to say no ... the first time, at least.

How did we have babies before apps came along?

Three months ago, my wife, Chrysta, and I were driving along Melrose Avenue in Los Angeles when she let out a harrowing cry.

When your toddler disagrees

There comes a time when your child starts having different views to you. I didn't realise that time would come so soon.

Win a Pacapod this Father's Day

To celebrate dads and families, we are giving away a Picos Pack from Pacapod Australia filled with a few extra goodies ENTER NOW

 

FREE TICKET

Discover the magic of the LEGOŽ DUPLOŽ Play Area in Sydney

Get your free ticket to The Essential Baby & Toddler Show and save $20 - 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.