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Fair enough. I should have looked.
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The information at the link is very helpful but it doesn't address the question of providing details of the car to a prospective purchaser. On balance I have decided to get an RAC check done myself for a few pounds, decline to offer the car's ID details over the phone but provide them with sight of the RAC report if they come to view it.
If that puts off a dodgy buyer so much the better.
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Maybe HJ can add an item to his list of advice on that page.
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If a seller refused to give me full details on the car so I could run my own HPI check, there's no way I'd buy from them. Just my 2p.
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Its a catch 22 - I would be hacked off if seller refused to give me details, but by the same token I would prefer to see the car myself, take a note of reg plate, check tax disc, check VIn before applying myself for HPI type check.
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Anyone walking past your car can read the reg. no. and VIN, so I really don't think that's an issue. I imagine doing an HPI on the reg number will bring up the associated VIN anyway.
Money transfer is a real problem. I'm with HSBC and they basically wriggle out of any responsibility. According to them, cheque, drafts and even electronic transfer (like CHAPS) can be reversed if there is any subsequent evidence of fraud.
I recently sold my wife's car. The buyer e-mailed me a scan of the draft (drawn on a London HSBC bank) so that I could check it out. I couldn't manage to call the branch involved (got put through to an Indian call centre who didn't/wouldn't help with my query). Went into my own bank and they wouldn't help check the veracity of the draft either (even though its the same bank!). IMHO they are increasing trying to ensure that all the risk is with the customer.
Bascially only cash is safe, and even then you could be given a forgery (although hopefully the bank counter staff would spot it).
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In Scotland if a cheque is presented at the drawer's branch and the bank asked to confirm that it will be honoured then the bank is legally obliged to do so. This tip was given to me many years ago by my own bank manager and I have used it successfully several times.
I know that this system does not operate in England because I once tried to obtain such confirmation in Picadilly and the bank refused, saying that it would not reveal such confidential customer information.
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I am going to insist on seeing insurance documentation before anyone drives it.
That may cover for 3rd party risk only. Damage to your car will most likely still be down to own insurance.
They will only get delivery of the car on receipt of cleared funds.
Google/Search for new rules (at least in England) popularly known as "2-4-6 changes to cheque clearing ".
"From 30 November 2007 changes to the cheque clearing process come into effect:
Increased certainty - For the first time, after paying in a cheque, customers can be sure that at the end of six working days, the money has safely cleared and they are protected from any loss if that cheque should subsequently bounce*.
*Unless they are a knowing party to a fraud "
www.bba.org.uk/bba/jsp/polopoly.jsp?d=263&a=367
Consumer advice on changes to cheque clearing times
www.howbankswork.com/15-3.html
www.apacs.org.uk/07_11_26.html
Changes to the Clearing System
www.chequeandcredit.co.uk/246/
2-4-6 changes to cheque clearing
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jbif
That's a very interesting post. I just called my bank (First Direct HSBC) and they told me that money from a cheque can still be reclaimed at any time 'if there is fraud on the other party's account'. So it would seem that either they are not following the 2-4-6 or there is a misunderstanding. I guess it could mean that after 6 days you are protected against a 'bouncing' cheque, but not one which is stolen or some other related fraud such as stolen money in their account.
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So, head the banks win
tails you lose !
and people wonder why I don't like "the banks" and "the system" !
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but not one which is stolen or some other related fraud such as stolen money in their account.
Only if you are a knowing party to the fraud.
The links I posted (bba & apacs ) are the banks' own bodies. You can find similar statements from the regulatory authorities such as the OFT.
Call firstdirect again and ask to speak to a Manager who knows their stuff. Refer them to the 2-4-6 changes.
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