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VW Up! - Advice regarding money when selling privately? - TKerby91

Hi all,

Thinking about selling my car privately for the first time. However, I'm a little worried as a few years back we sold a laptop on Ebay, the money entered my account and was subsequently taken away as it transpired the buyer had committed fraud and bought my laptop with someone else's card (so I lost the laptop and the money :( )

Anyway, enough jabbering, my question is, what's the safest way to arrange for the buyer to pay me without any comebacks like the above?

Any help is appreciated!

VW Up! - Advice regarding money when selling privately? - daveyjp

Bank to bank transfer which in my experience is immediate.

VW Up! - Advice regarding money when selling privately? - Westbury33

I recently sold our nearly new Skoda Citigo. I took a small cash deposit to hold the car, and the balance was paid by bank transfer prior to collection.

I have also sold newer cars for cash. I accompanied the buyer to the bank, and he paid the cash straight to my account. This also works at the Post Office for some banks. 100% secure and no risk to you.

Selling privately is no problem. I always ask buyers to show ID. If they are genuine people, they wont mind.

Good luck with your sale.

Edited by Westbury33 on 25/08/2020 at 20:47

VW Up! - Advice regarding money when selling privately? - The Heg
Cash in the bank has always worked- seller and me in the branch, cash in my account, keys handed over in the branch. Money safe, and cctv if it all goes wrong later.
VW Up! - Advice regarding money when selling privately? - bathtub tom

Another advantage of handing cash over in a bank/PO is the teller checks the notes for any 'funnys'.

VW Up! - Advice regarding money when selling privately? - Falkirk Bairn

Friend sold his "like new" Goldwing for about £14K about 10 years ago bought at a time when his health was failing and had only covered a few thousand miles in 5/6 years.

Easiest way was they both buyer & seller went to the local bank (now closed).

The buyer withdraws £14K, the seller then passes over their card & deposits in their current account.

The cash withdrawal & cash deposit are 2 separate cash transactions although no cash is actually counted out. 1

100% safe - if the cash withdrawal was a stolen card etc that is up to the bank to fix - they "handed over the cash" which was then paid into the sellers account - job done.

He had previously sold another bike and had it sitting in the house until the banks re-opened on the Monday - it was OK no forgeries but this prompted him to get the buyer into the bank & process the money - safer for both.

He died & left another 2 partially re-built BSA's (500cc twin & a 125 Bantam) which were given to a relative to complete & sell for charity - never heard if they did actually fix them up.

VW Up! - Advice regarding money when selling privately? - mcb100
If you’re selling soon, try We Buy Any Car. I know of their reputation for bidding high and then working backwards, but with the strange market we’re currently in, I’m hearing tales of them buying for the same price as independent dealers are selling...
VW Up! - Advice regarding money when selling privately? - SLO76
I’ve never had any trouble selling cars from the door. A non refundable (it’s meaningless if not) deposit is made to secure it then a bank transfer is made for the rest which you verify online and I typically move into a second account before releasing the car. Not sure if this would help stop any clawback but it makes me feel safer. Gauge the buyer carefully too. If they’re Dodgy and overly eager to pay full money then be wary.