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  1. #1
    Join Date
    Feb 2011
    Location
    Devon
    Posts
    281

    Selling car to a cash buyer.

    Hi guys,
    Opinions please on the possible pitfalls of selling car to a cash buyer, as in pound notes.
    Money laundering?
    Anyone had any experience of this?

    Regards
    Geoff

  2. #2
    Join Date
    May 2004
    Location
    Finchampstead, Berkshire, UK.
    Age
    54
    Posts
    3,577
    Fake notes! But do it at the bank, he pays the cashier to put into your account - job done
    GD Mk3 Jag based
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  3. #3
    Join Date
    Apr 2005
    Location
    Worcestershire
    Age
    44
    Posts
    2,156
    I sold my Cobra for pound notes, I made the bloke come with me to the bank to (check it and) pay it straight in before he had the keys
    Regards

    Craig Perry

    No, I'm not "repairing" it, I'm fine tuning its performance.

  4. #4
    Join Date
    Feb 2011
    Location
    Devon
    Posts
    281
    Ok, thanks, just wanted to check there was nothing else I needed to do.

  5. #5
    Join Date
    Feb 2011
    Location
    Northampton
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    41
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    3,841
    Given how hard it can be to get large sums of cast out of the bank these days (apparently they have to ask, by law, what you intend to do with the money .. a smart-arse friend answered "Hookers and blow" ) I'm amazed anyone still buys cars for cash! Unless they also offer to tarmac your drive with some they have left over from another job and have a funny accent
    My DeDion build diary..
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  6. #6
    Join Date
    Jan 2006
    Location
    Chelmsford Essex
    Posts
    804
    Be careful of fake notes £20 and £50 in a suitcase brought to your house.

    There is always the issue of security of carry around that amount of cash following picking up from the bank if you are not at your own bank you still would have to walk to your local branch to make the deposit.
    Ask for a safe area at the bank and not over the counter. Also fresh notes that are still wet!
    On such a large amount I would always opt for a Bank Transfer.

  7. #7
    Join Date
    Feb 2007
    Location
    West Sussex
    Posts
    8,505
    Thats what I did - took cash of a few hundred for a deposit, then bank transfer for remainder and then bank's confirmation of irrevocably cleared funds.....only then did I let the keys and the car go.
    Crendon Chassis No.49
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