Buyer's Guides
How do I make sure I get the cash?
After agreeing a price, getting the money is possibly the trickiest part of any private transaction. If you know the buyer and trust them, there's no problem, but most likely you will be selling to a stranger. There are a variety of ways to get the money and here they are with their pros and cons.:
- Cash
The easiest way to get paid and certainly the most instant. Cash is a common way to pay for used cars at the lower end of the price spectrum, but it's unlikely to be the way you're paid for a used Porsche 911. Count any cash very carefully and check every note is genuine either by yourself or at a bank. If the buyer is for real, they won't mind. - Cheque
After cash, the next most popular way to pay. If you're happy to accept a cheque, insist that you will not release the car to the buyer until the cheque has cleared and the money is resting in your account. It may take a few days, but again a genuine buyer won't mind and it will give them time to sort out insurance for their new purchase.
- A banker's draft
Much like a cheque, but a banker's draft is guaranteed to clear by the bank. It's a safe option, but beware of counterfeit drafts. If the buyer offers to pay this way, it's best to accompany them to the bank so you can see it's for real and issued by a bank, rather than freshly printed off of some scumbag's computer that morning. - Cash transfer
With the huge increase in online banking, one of the quickest and safest ways to be paid for your car is over the internet. All the buyer needs is your bank account number and sort code to send money to you through the ether. Do not give any other details of your bank account and if you're not happy about anything, contact your bank to check.