Looking for tips to sell car privately. First time doing this for me. In nsw
What happen if the buyer wants a test drive?
What if they don't want to pay cash?
How do I transfer ownership properly and not caught with fines belonging to them?
How do I maximise my price?
Anything else I should know?
Thanks mate, what if they have accident in the car? Even if I'm in the car, what can I do to force them pay for every thing as well as the third party?
A bit difficult to say to them that no car until the cheque is cleared, that could take two days, and I could run away with their money, is there no other way? Cash for $30k sounds a lot also, I understand if they can't easily get that or carry that.
Then take a refundable deposit before they drive that is equal to the excess on your account. And yes, you can take them to court to recover any damages if they are fault in the crash.
And no, not difficult, especially in these “scam” times where it seems everyone is out to rip you off. Just politely explain to them that the car will not be handed over until funds have cleared. The best/fastest way to do this is to do an EFT directly at the bank. Or, ask them what bank they are with and go there an open an account just to receive the money.
Another alternative is, go to their bank, get them to get a bank cheque. You take the bank cheque directly from the teller and walk directly to your bank and deposit it (not 3 days later “when you have the time”). InB4 all the “bUt bAnK cHeQuEz cAn bE cAnCeLed!!11!!1” crowd turn up with bullshit anecdotal made up stories of their uncle’s work mate’s sister’s TAFE teacher’s daughter who had once had a bank cheque cancelled on her…
Thanks, so just confirming bank cheque cannot be cancelled after it was already deposited? I thought it takes a week to be cleared.
@Frankensnore: Once deposited, a bank cheque cannot be cancelled. It is not the buyers money, it is the banks money. The buyer would have a very very hard (ie: impossible) time trying to cancel a bank cheque that was cashed in the account of the person named on the cheque.
This is why timing is important. Dont take the bank cheque home and sit on it for a week or two, do it on the day. Take it from their bank directly to your bank. Don't accept a bank cheque that you didn't see drawn up in front of you (People have been known to print fakes out at home). It's a 5 mins process to take the buyer down to the bank, get the cheque drawn up, take it directly to your bank and deposit it. Once deposited in your account under your name, it is yours although it may take a day or two to clear.
@TEER3X: Did you not read the part where I said “you go to the bank with them and take it directly off the teller”?
You think that the bank teller is in on the scam? Issuing fake bank cheques from the bank for a cut of the proceeds?
And have someone follow you and the prospective purchaser on the test drive.
List it on carsales, you will get more genuine buyers.
Test drive usually OK without you going along, provided you hold a "ransom". Usually that means the keys to their car (hope it is higher value than the one you are selling), their kids and their partner stay with you while they go for a test drive.
pegaxs gave good advice about completing the paperwork AND transferring ownership online. Once the online transfer has gone through the paperwork is not needed, but it is useful to have their name, address and driver license number.
Type up (or even handwrite) a Bill of Sale showing date, VIN, Rego, name of buyer/seller, description of vehicle (e.g Toyota Camry 2002 silver). Make sure both buyer and seller sign and keep a copy each.
Beware the selling price as some buyers will ask you to artificially reduce it to avoid paying correct Stamp Duty. If you do, it's your risk.
Most important, as pegaxs says, do not let them have ownership/keys or drive away permanently until you have cleared funds safely "available" in your bank.
I didn't know there is stamp duty for selling cars with valid rego
How would the buyer pays for it? Is it after the transfer? How would the rta knows?
That's the buyers problem, not yours.
I'll also add to make an attempt to clean the car and take 8-10 half decent photos. So many times I've gone to look at car ads and the inside is covered in rubbish, meanwhile they've taken one photo of the outside showing half the car and a dark interior shot.
What's the obsession with:
Showing pictures of the car at the car wash while it's dripping wet
Photos taken 40m away from the car in a random carpark
No interior shots
Using snap chat screen captures as photos with a disclaimer (the wheels in this photo are not included)
Etc etc etc
Just get ready for the buyer to message a few days later with buyer's regret saying the car's spewing oil and blowing smoke. Then demanding a refund and threats to take you to court… even when they were perfectly happy with it during the inspection and test drive.
Is it even possible, is it even case worthy?
Only if you sell to the local bikies chapter.
What happen if the buyer wants a test drive?
Take a photo of their license and inform them they're liable if they crash, otherwise its fine
What if they don't want to pay cash?
Let them do an electronic transfer, don't hand over the keys until it's cleared (sometimes it can be immediate) don't accept a screenshot as proof.
How do I transfer ownership properly and not caught with fines belonging to them?
WHA? in WA we can do it all electronically and its immediate. Last time i did it on the driveway of the guys house and literally drove off with it in my name
How do I maximise my price?
The car is only worth what someone else is going to pay. Research other cars on the market and find a comparable value with the right number of km's (car prices are going down though so there's still some dreamers)
Anything else I should know?
Don't respond to people who send someone to pick up the car on their behalf.
Thanks for all the advice guys, I think I have a plan now.
To avoid theft, open bank account in the same bank that the buyer is, and make the payment transfer in the branch manually.
In test drive, take a photo first and make them sign agreement to pay for damages.
Make sure to have paperwork and license showing the car is bought and done.
To avoid theft, open bank account in the same bank that the buyer is, and make the payment transfer in the branch manually.
Better off aiming for an instant transfer. Talk to your bank to see how it can work. I have both bought and sold a caravan using instant transfer. If buying, you contact your bank and increase the daily limit. Do the transfer on mobile at your choice of location, you both log in to your own bank on your own device so highly unlikely to be scammed. Done. No faffing around with going to banks etc. Once you’ve signed the rego papers over to them you’ve got solid evidence with good ID documents if they try and reverse the payment.
I bought a caravan and by the time my screen refreshed their account on their phone was showing the transfer. When I sold a caravan it took a minute or so for my account to show the transfer.
Better off aiming for an instant transfer.
CBA has entered the chat. There's a 24 hour hold on money sent to a new account for the first time (and from my experience, second time too)
Hence check with your bank. If it’s first time only, get the buyer to send a deposit before pickup day.
Go to your local state motoring authority website and search how to sell used car and how to transfer ownership.
Then, go and google how to sell used car. Then come back if you’ve got further questions.