selling a car

[nelix2000]

Has anyone ever done this? I am 2 days into my autcion and it has a bid and 5 watchers so not doing bad. I am a seasoned ebayer regular kind, but am worried about selling a car. Obviously I am not taking paypal as payment as I know the problems/fees that can occur.

So I have stated cash only or bankers cheque. I have never seen a bankers cheque before so how will i know its real? Also do I wait until I bank the cheque and am assured its clear before I hand over the keys? Will not take a traditional cheque.

Just wondered if anyone has sold on there and how it went? tia

Bank Cheques / Bankers Drafts CAN be forged or stolen, and whereas a genuine one IS guaranteed payment, it will still take the standard time to clear as available funds in your account as any other cheque.

Drafts from HSBC are Handwritten. Nationwide provide a printed cheque. They all vary.

If you complete the sale in Bank opening times could you phone the Bank it is drawn on to confirm it if you are worried? (Banks used to do an "If this cheque was in your hands & in order would it be paid" enquiry but that is no longer available. They should have a list of stolen drafts though.

You could accept cash & drive together to the Bank to confirm cash is real. Why not get a Bank Transfer? Same day cleared funds.

I did think about bank transfer but I thought these could be retracted ?

Nope - Not a same day CHAPS transfer.

You phone your Bannk and get them to confirm that cleard funds have been received (like when you move house and deposits etc going between solicitors)

We sold a car two weeks ago on ebay - and got the buyer to pay cash - it was for £470 (better than the £60 we'd been offered by the scrap man!) We looked at the notes carefully and had alreday checked out his feedback before we sent any emails etc.

Thanks! Car will sell for over 3k so think bank transfer is the way to go. Or go with buyer to bank to get cash so can then bank it myself right away as it's a lot of money! So far it's sitting at £620 with four days left and is yet to meet the reserve. Find it odd that people bid without seeing or driving it first despite the offer to do so