hi
Buying a used car and need to pay the private seller. He wants the payment in his bank or cash prior to handing car over.
1) Can you please advise the best way to go about it - Don't really want to carry cash and his & mine accounts are in different banks.
2) Also, on the buying process - he has done the Carfacts report including PPSR which shows no finance/no written off/no stolen/ no odometer…I have got mechanical inspection done as well..anything missing that I need to do?
thanks so much
+1 for bank cheque.
Seller doesn't want a bank cheque. Why would he accept one if he has specifically asked for payment in other methods?
Thanks
Definitely do your own ppsr
ok thanks
Bank cheque, as good as cash
Not really as you can stop payment of a bank cheque
You've already paid upfront and have to return with the cheque to cancel it. You could report it lost/stolen of which case you can expect an investigation when the buyer goes to cash it in
You don't have to return with the cheque to cancel it. I went through the cancellation of one last year.
I know current and ex bank staff who wouldn't recommend a bank cheque as the safest way for a seller to receive payment for a car.
Thanks. Seller is ok with Bank Cheque
payid
Limited to $1000 per day
I used carsales payprotect payment system. Basically, when you transfer the fund, they hold it until you click release funds. There is some fee, but it totally worth it as you can release the payment during registration transfer.
why would anyone want to trust a 3rd party that can become insolvent?
You could meet at your bank and get a stack of 100s.
Get him to bring the car keys and title and sign it over. If a bit paranoid view the car and leave someone with it.
He didnt wanted to take off work ! Seems like Payid and Bank cheque is the way out
I did payid. had to call up bank to have limit increased.
Then (NAB) blocked it, called me up to make sure it was legit, and it was proccessed after about 15m from start to finish.
DO YOUR OWN PPSR.
Do not trust a seller's.
ok thanks
Bank cheque. Always.
beem it ?
Write up a quick contract when you do the transaction - I (seller's name) sold (car) for ($amount) to (buyers name) on (date and time). If the seller doesn't mind, you can write a lower price on the contract to save yourself some money when doing the rego transfer.
Always have someone with you when you're going to buy a car. It's too risky to do it alone. Always have your friend sit in the car while you hand over and count the money to avoid being scammed.
That being said, once you've bought a few used cars from private sellers you can easily spot the warning signs and avoid any potential risks. You can almost always tell if a seller is trying to scam you or is lying about the car. In many ways, looking at and test driving a private car is just as much about getting to know the seller than it is about getting to know the car. I've had 2 or 3 cars on my shortlist before, all very similar in price and condition and I'll always buy from the polite old gentleman than I would from the shifty young bogan.
… with a mullet, no top front teeth, wearing trackie pants and thongs, a singlet so you can easily see his arm and neck tattoos, and drinks from a VB stubby during your test drive… oh, and includes “youse” in every sentence. Yes, steer clear of these sellers.
Not necessarily. To me, anyone who's young and unmarried without children is more likely to be dishonest (no offense, I fall into that cetegory myself). Mature people who have a spouse and kids at home ain't gonna be pulling scams and risk crossing the wrong people. They just want to live and let live.
Also, the only young people who take really good care of their cars are the ones who love it so much they can't help but thrash the hell out of it everyday. Stay away. Buy your performance cars from older drivers who appreciate them for things other than speed to show off.
"Always"
Not a good word to use.
Never say "always"
Same for "easily spot the warning signs"
Even the geniuses get scammed sometimes.
How much cash? I wouldn’t be keen on carryover by more than about 10k, under that save the bank cheque fee and use cash.
You have covered the bases.
Just pay the guy in cash.
Dont argue the point.
The way you do it is to go to the bank, make a cash withdrawal, put the cash in your pocket, count it it out in front of him and then hand it over to him.
Ask for a receipt and make sure you get the signed registration transfer.
I would ask for cash too!
Plenty of sellers getting scammed with bogus online payments.
Cant go wrong with cash.
PS A bank cheque is also normally acceptable in lieu of cash but check with the seller
I believe Citibank Plus still offers free bank cheques if you order online. It takes several days to arrive though.
Thanks All - all done was easy enough. Any idea how can i close the comments pls
No need to close it. You’ve come back and let us know it’s done (but without an answer).
We done mostly through payid and some through cash.
Do another PPSR, it's only $2 for your own peace of mind.