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Advice on Selling Privately

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996_fan

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13 Jun 2007
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Apologies if this has been covered before, or if there's advice on the web, but I'm looking for personal opinion.

I'm a genuine case of 'new baby forces sale'; so my 4-wheeled one has to go. (2002 996 C4)

I want to have a go at selling privately on this site and Autotrader etc, and wondered what people's thoughts / experiences were for the following:

:?: 1) Giving test drives – Is it down to me to get the car insured for this? Do I expect prospective buyers to be covered fully comp to drive it? Do I just give the test drive myself if they aren't insured? Would you buy a car that you were driven in, but couldn't drive yourself?

:?: 2) Taking payment – heard lots of scare stories about dodgy bankers drafts or copies of real ones. What's the safest bet, do I wait until a cheque has cleared? If you were buying would you hand a cheque over and then wait to get the keys? Would you do the exchange at a bank and pay cash?

I bought my from a dealer so neither were an issue, but I appreciate any opinion or experience of people who have bought and sold privately.

Thanks very much.
 
Buyer and Seller Fraud Protection advice from 911uk

http://911uk.com/template.php?page=59


996_fan said:
:?: 1) Giving test drives – Is it down to me to get the car insured for this? Do I expect prospective buyers to be covered fully comp to drive it? Do I just give the test drive myself if they aren't insured? Would you buy a car that you were driven in, but couldn't drive yourself?

NEVER allow someone to drive your car without Insurance - it's not only a civil matter if they damage your / other people's property - it's a criminal matter if you allowed it knowingly and they caused injury.

Most reputable insurers will add a driver for a day - some for nothing (like mine) - some for a small charge - they will want to know that the person has a valid driving license, SO INSIST ON SEEING it with you own eyes - and ideally another form of ID to satisfy yourself they are who they say they are and not using a license for £50 down the pub.

NEVER allow someone to cover your car on their Insurance - how do you know they're not lying / faking it - only if YOU cover the car yourself for the driver AND you satisfy yourself they're entitled to drive the car should you then - CAUTIOSLY - allow someone to drive it.

First take them on a gentle piece of road where you know you can end the drive early if they're a muppet - and if you're relaxed with their driving, then allow them a bigger / faster piece of road.

No-one who's serious about buying a car to own will want to thrash the nuts off it on a test drive.



996_fan said:
:?: 2) Taking payment – heard lots of scare stories about dodgy bankers drafts or copies of real ones. What's the safest bet, do I wait until a cheque has cleared? If you were buying would you hand a cheque over and then wait to get the keys? Would you do the exchange at a bank and pay cash?

A serious buyer should want the car inspected (unless it has a warranty on it already) - so suggest that you take the car to the inspection place (OPC?) and leave it with them in their care until the cash has been received in your account, in cleared funds, through a CHAPS (same day) or BACS (three day) transfer.

Anyone who's not prepared to pay the £20 charges for a CHAPS isn't a serious buyer.

Drafts are now unsafe in my personal opinion - there are far too many fakes out there and even if you call the branch to validate the draft, the bank is still able to refuse the draft if it's faked - or, from stories I've heard, if the funds are 'double withdrawn' by the account holder - just don't risk a draft anymore.

I would also recommend getting a deposit (10%?) cheque - even if you don't bank it - if someone is prepared to write a cheque out then they're serious, before you haul the car to the dealer for inspection - EVEN if they arrange the inspection - as the work has been conducted on YOUR property, the garage have the right to a lien on the car and may not release it without the inpsection being paid for, if the deal falls through.

GET A WRITTEN purchase agreement in place - saying they agree to buy, subject to inspection etc., at the agreed price and that they will pay 'where time for payment is of the essence' - basically I've had jokers (VERY serious car buyers pay a deposit, then after a week of chasing offer to pay me in installments - on £250k car - it's the truth!) - if they have agreed that time is of the essence you are entitled to charge them costs / forfeiture of deposit if they fail to pay in a 'reasonable' time - always take legal advice on what constitutes a reasonable time.

Personally, I've found it easier to believe that 99.999% of people are completely trustworthy - but don't leave yourself open to the 0.001% who aren't :)

HTH

Philip
 
Great advice here I reckon- Mods, could this thread be stickied for future ref?
 
in addition to Phillip's excellent advice re the test drive.............NEVER allow the viewer to be left alone with the keys to the car(ie keys in the ignition and you getting out to swap places)
 
Rodders said:
in addition to Phillip's excellent advice re the test drive.............NEVER allow the viewer to be left alone with the keys to the car(ie keys in the ignition and you getting out to swap places)

That's a great point - which I forgot to mention :oops:

When you go out for a drive - YOU drive first, then after five minutes or so, pull over - switch the engine off, TAKE THE KEYS OUT - swap seats and hand them the keys.

Well spotted :)
 
pmjt said:
Rodders said:
in addition to Phillip's excellent advice re the test drive.............NEVER allow the viewer to be left alone with the keys to the car(ie keys in the ignition and you getting out to swap places)

That's a great point - which I forgot to mention :oops:

When you go out for a drive - YOU drive first, then after five minutes or so, pull over - switch the engine off, TAKE THE KEYS OUT - swap seats and hand them the keys.

Well spotted :)

I have my moments :lol: :lol:
 
CHAPS payments - can anyone confirm they are non-refundable? ie the buyer cant drive off with your car and then call his bank and get them to reverse the CHAPS payment. I believe that is the case but just wanted to check. Thanks for any help, Josh
 
CHAPS payments CAN be recalled automatically by the sending bank if the uncleared funds they hold do not clear and this can take up to five working days I think - its rare but as one who sees an awful lot of CHAPS payments I have seen it happen once or twice.
 
It's worth finding out if the buyer has the same bank as yourself. This may seem unlikely but most people have several different bank accounts. When I bought my car we both had the same bank, so I was able to go to the same bank near the seller transfer the funds via my switch card. Took about 20 minutes
 
as far as payment, cash and a fake currency identification pen also works.
 
To be absolutely sure I would avoid all CHAPS / BACS, etc and take cash only. I would also tell any potential buyer that I will be the only one doing the driving and that I will be expecting the buyer to visit during business hours so that we can both take the cash to the bank together and get it all checked out and paid in to your account. This is the only way that you can guarantee that you'll get the money. If the bank clerk doesn't spot that the cash is fake it's then their problem - not yours.

I would try to get these points across to the buyer before they leave home to travel to view the car. This way you've already 'set out your stall' before they arrive & there'll be no potential awkward moments that could put you under pressure.

I would also highly recommend having a mate (or three) at the house with you if possible. You don't necessarily have to let on that you have people with you. No intimidation, etc. You don't want to put off a good buyer!

The bigger picture regarding all of the above is that any genuine buyer wouldn't question any of it. If people start putting obstacles & excuses in the way then I would only proceed with caution - as they say. Either that or move on.

One more tip: I wouldn't give your exact address either. I would plan to meet the buyer somewhere and then escort them back to your place after you've met them - preferably in a different car to the one you're selling.

Any real buyer would want to make sure that your address is the same as the one on the V5 but I'd avoid just giving your exact address out over the 'phone as they'll know exactly where the car is from that point on. Just a thought. :cop:
 
If going down the cash route, you should also make sure there is a receipt for them drawing the money from their bank account. If the buyer doesn't have the proof of where the funds came from (and it's a large amount), your bank may not (and should not) accept the cash (in one go) because of the anti-money laundering policy that they operate.
 
I took a few chances when purchasing my C4S, bought private, travelled from N.E Scotland to South of England, and paid Cash!

I built up a relationship with the seller, and he was a decent, enthusiast, who informed me prior to my arrival that he would not touch the cash, preferring to ferry me to his bank where they would count and check it, of course this could have gone very pear shaped for me, as we laughed about over a coffee before I headed North in my new purchase. Not suitable for all, but cash does have a lot of power.
:bandit:
 
Any minute now this poor guy is going to ditch this whole idea! :floor:

The next day: "What's that you say, Mr. OPC? You'll take it off my hands for £12K and put it up on your forecourt for £21K within the week? And what with it being black with black leather which is a bad colour combination, even though my car is blue with grey leather - but you'll give me the benefit of the doubt on this occasion(?!). And what with the situation in North Korea and that there's nothing decent to watch on telly on a Tuesday night. And that my particular style of alloy wheels were later found to be offensive to badgers. And El Nino. Yes, ok....ok...ok! What ever you say! Just bloody take it away!!!....................Do you want me to fill the 'tank first?" :D
 
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