Posted 19 October 2023

Selling a car

Hi all,
I am unfortunately having to sell my car due to ULEZ, and have had a few people wanting to view it.
I hae never sold a car before, and just wanted to now what my obligations are?
I remember when we bought it, we filled in a green slip, and that was about all.
If I am selling, what is the process my end?
Also, people are offering cash, is this the preferred option over bank transfer, or is either option ok?

Many Thanks, just a bit nervous as we need this money to buy the new car, an d what everything to go smoothly.
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  1. E_T_C's avatar
    If you are taking cash for a car make sure that the notes are real and none are counterfeit, also be cautious keeping large amounts of cash on you and at home. Some people still work with cash such a people in trades so do not let this put you off.

    Bank transfers can be a minefield as if they payment is fraudulent the money can be reclaimed, so please be cautious.

    Remember to give a receipt and as a private sale it is sold as seen without any warranty or returns. There is a free template theaa.com/car…cts
  2. allsa001's avatar
    Author
    I suppose the issue with cash is that it could be fake notes.
    The issue with bank transfer is it could be recalled.
    Uridium's avatar
    BT can only be recalled by the bank if its proven to be a fraudulent payment. A sender cannot recall a BT.

    for this reason when you sell the car ensure you write or print a receipt, copy for you and copy for buyer stating car Reg/VIN and amount paid. both copies signed by you and buyer.

    Should the buyer dispute the transaction with bank you have evidence proving its not fraudulent.

    The other issue with Bank transfer is that between banks they aren't always immediate and you don't let the car go until you have cleared funds in your account. For a 5k car personally I'd prefer cash.
  3. onitslastlegs's avatar
    I would insist on cash. I asked my bank if a bank transfer could be recalled (I was selling an expensive laptop). I was told that normally, no - it cannot be recalled... UNLESS it was a fraudulent payment, ie made without the bank account holder's knowledge or permission. That small possibility was enough to put me off bank transfer payments.
    sm9690's avatar
    And what if you receive fake notes? There's risk on both transaction types but IMO the bank transfer is a lower risk.
  4. samwants2save's avatar
    As for people coming to view the car- make appt's to view during daylight hours and watch them like a hawk when they lift the bonnet to view the inner works. A few years ago, my mate had a trio of Eastern European fellas looking his advertised car up/ down/ back/ front and lo and behold, went to start the car, and failed (engine attempting to turn over/ not starting). They definitely did something when they poked their heads under the bonnet..cos the car was a gem and had been fault free for forever. It cost him a pretty penny to fix..I can't quite recall what it was but something along the lines of injecting some fluid god knows where (it shouldn't be)

    So, just be mindful. Best of luck
  5. allsa001's avatar
    Author
    Again, I just wanted to thank everyone who provided me with advice to my question.
    We ended up doing a part exchange in the end, and the whole process was smooth, and the advise I got from here was perfect. I will ensure that I retain all this info in case we sell again.
  6. JimboParrot's avatar
    Don't know which sort of car it is but presumably it is worth more than the £2,000 offered on the scrappage scheme, if you qualify.

    Hopefully come May ULEZ will no longer exist.
    allsa001's avatar
    Author
    It's annoying isn't it.
    The car is a Japanese import from 2005, and many people with the same car insist that it is ulez compliant with regards to emissions, but there is no paperwork to evidence it. Car is worth around 5k. We are wanting to buy the same model, just a later version. So going to cost an extra couple thousand for no real reason.
  7. allsa001's avatar
    Author
    Just wanted to say thank yo to everyone who has provided answers.
    I feel a lot more confident now, and less worried that something will go wrong.
  8. airbus330's avatar
    Re. Cash. Friend sold his camper van last week. 8k. Half cash, half bank transfer. He met the guy in town who had come a very long way by train, agreed the deal and they both went to the bank where the cash was paid in and checked by the bank clerk. The bank transfer portion was done by faster transfer. There was a small risk with that, but sometimes you just have to make a judgement call on someones character.
  9. Isaac_McCafferty's avatar
    depends who you bank with, with starling i was sent £7K for a car sale and it arrived within seconds
  10. JimboParrot's avatar
    Glad it is sorted. Part exchange is probably better. So many scammers and fraudsters about plus of course you don't want the buyer coming back and telling you how they've 'discovered' umpteen number of faults since purchasing!
  11. allsa001's avatar
    Author
    Many Thanks. I will need to see if I have the new green 'new keeper' slip.
    Also, is it better to accept cash or bank transfer, or does it not matter?#

    Much appreciated
  12. rimalpatel007's avatar
    Selling a Nissan Juke?
    allsa001's avatar
    Author
    Honda Stepwagon
  13. hubcms's avatar
    I've sold a few low value cars off my driveway. The two things I've always done is list all the faults (I keep a copy and they get a copy) and be realistic on value. Cash is fine but must be verified by the bank first or a bank transfer visible in my bank before I hand over any keys.
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