Worried about sellling

[bazzam Junior Member Find all posts View Profile Close bazzam]

Hi all, am thinking of selling my MY2014 GX privately (carsales.com.au), but never having sold a car privately I am wondering how people deal with the issue of transferring money and handing over the keys? Any advise would be appreciated.

Cheers,
Barry.

[Spilsy Avid PP Poster! Find all posts View Profile Close Spilsy]

Hi all, am thinking of selling my MY2014 GX privately (carsales.com.au), but never having sold a car privately I am wondering how people deal with the issue of transferring money and handing over the keys? Any advise would be appreciated.

Cheers,
Barry.

My advice (after selling 2 cars, admittedly worth significantly less than a prado, privately):

• If its not cash (I dont think a prado will be paid for in cash), a bank cheque will give you the upper hand, as they are notoriously difficult to cancel.
• Dont hand over the keys until you have the money, or cheque, in your hand.
• Download a contract template from the net and have both yourself and the buyer sign it, giving you both a little legal help.

[Bushbasher Out of control poster! Find all posts View Profile Close Bushbasher]

Just wait until my money order arrives via Wells Fargo from my Nigerian bank account. Guaranteed, no worries. I live in PNG and will have the transport company swing by and pick the car up today. You can trust me.

[Puddock Junior Member Find all posts View Profile Close Puddock]

Just wait until my money order arrives via Wells Fargo from my Nigerian bank account. Guaranteed, no worries. I live in PNG and will have the transport company swing by and pick the car up today. You can trust me.

Yes and remember to get Barry to pay the transport company $1000 cash when they collect the car. You will of course reimburse him later...

[Offroader Member Find all posts View Profile Close Offroader]

It might seem obvious, but make sure you also are in the vehicle when the buyer test drives it. Most insurance companies will not cover if the owner is not present.

As for money, as has already been said, ask for a bank cheque, it's the safest way to go as the funds must be cleared before hand.

Make a photocopy of the notice of disposal and lodge it promptly.

Also be prepared as to how you want to answer those who ask you to falsify the sale price/market value on the rego papers so they pay less stamp duty. This is very common.

[Guest Close Guest]

When getting paid by bank cheque, meet at your bank, deposit the cheque and ensures that it clears and then hand the keys over.

[spike69 Senior Member Find all posts View Profile Close spike69]

I would also add it's a good idea to sight and make note of the the buyer's driver's license details or similar identification, to verify the name and address on the Notice of Disposal, and to make it easier to find them in future if need be.

[Bushbasher Out of control poster! Find all posts View Profile Close Bushbasher]

When I sold my 90 series the buyer came with a bag of money straight from the bank.

[r4ndll Avid PP Poster! Find all posts View Profile Close r4ndll]

I would also add it's a good idea to sight and make note of the the buyer's driver's license details or similar identification, to verify the name and address on the Notice of Disposal, and to make it easier to find them in future if need be.

I got caught out by this selling my 60 series to some Russians. The address on the Licence wasn't the same as the notice of disposal - I didn't notice... Took a bit of convincing with the RTA to lodge it.

These days with a camera you can just photograph the licence - if they agree. I did this when buying my camper trailer as it was an interstate purchase and we had to cancel and transfer rego's.

[Pugaree Member Find all posts View Profile Close Pugaree]

If you are nervous now, have a read of this thread. http://www.pradopoint.com/showthread...hould-I-refund

I have sold plenty, maybe 20 odd cars privately and never had a problem up till that last one. I think the idea of meeting at the bank is a good one and also if you have any finance owing you can pay it out a the same time, the buyer will take great comfort from that.

[bruggie Junior Member Find all posts View Profile Close bruggie]

Even banks cheques need a few day clearance to my knowledge. I would prefer cash and meeting at the bank. Also, if you sell with roadworthy best to check beforehand if it will pass without repairs. Think of tyres, brakes and even a windscreen. This may all sound negative but it is more a case of being aware. I have sold all my cars privately, keeping thousands in my pocket. Good luck, Fred

[Dabeanian Member Find all posts View Profile Close Dabeanian]

Hello Barry,
I recently bought a Prado had to travel a few hours for it.
Best is a bank transfer, all he has to do is sit down at your computer go into his bank and transfer into the bank account you want it to go into, just name, account number and BSB number ,if he has enough to cover the cost of the car it will go right into your account, you will see his account that the money has left into your account, easy peasy , you can print transaction off.

He just has to make sure his daily limit will cover the cost of the car , can do online , or large amount has to go into the bank to up his daily limit , don't stress just sold my old
Prado to a dealer said they will transfer it tomorrow, let's hope.
Alan.

[Ian Reid Advanced Member Find all posts View Profile Close Ian Reid]

I bought my son a car a while back. Transaction was to be direct deposit. Once all the transfer papers were signed we transferred the coin in front of the seller and emailed him the transaction record as part of the transaction.
I will be selling a car soon and use direct transfer, making sure on my own device the funds went through before handing the keys over. If that doesnt suit the buyer we will go to the bank and buyer can deposit directly into my account.
Not a fan of cheques tho if lotto ever send me one i will take it


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[cmilton54 Find all posts View Profile Close cmilton54]

If doing a test drive and he is behind the steering wheel and says you will have to drive as I have a bug or something in my eye. Ask for the keys, as the other day I read where that happened, owner go out of passenger side and driver sped off leaving him standing there, without his car.

[JGD Member Find all posts View Profile Close JGD]

Best is a bank transfer, all he has to do is sit down at your computer go into his bank and transfer into the bank account you want it to go into, just name, account number and BSB number ,if he has enough to cover the cost of the car it will go right into your account, you will see his account that the money has left into your account, easy peasy , you can print transaction off.

I'd be wary of a direct transfer. The issue is that if the buyer is with a different bank the transfer can take up to 3 business days, during which time they can easily cancel/reverse the transaction.

Cash for smaller sums or bank (NOT personal) cheque for larger sums - neither of which can be cancelled by the buyer. If the buyer insists on personal cheque or direct debit then they need to wait for the funds to transfer to your account (3 or so business days) before collecting the keys.