MattN

Selling my car at the moment (and a few other things) and it's a private sale.

So why do people think that 'cash' will make me reduce the price by some sily amount? After all what else are they going to pay in?

Cheque? Well obviously I would wait for it to clear before handing over the car, so it would be cleared funds.

Brankers draft? These are produced only if cleared funds are available so as good as cash.

So why do people think I'm going to knock thousands (yes thousands!) off my price because they are offering cash. Which actually offers more problems as I need to get to a back that's open!

And whilst I'm ranting, again private sale so why do they think I want p/x?? And more to the point why should I give them more than a dealer for there px.

One guy came to look negoiated on the price. Then said he had to sell his car (vectra)and said he had an offer from a dealer of 2500 and said if I gave him 4000 it would buy the car. WTF??? Why on earth would I give him 1500 quid extra and a load of hassle selling it!

Some people.

rant over

Barrie

Having just sold a car I can sympathise with all the sh!te you get!

Be wary of bankers drafts though - they are not guaranteed. There are stolen ones around and you can get ripped off this way.

You can also use the CHAPS system to transfer cash straight from one account to another - costs the same as a bankers draft - have done this a few times and I prefer it.

Personally I have nevetr handed a car over until the money is cleared in my account.

Have fun!

Edited to say I meant CHAPS - thanks below for correcting me!

[Edited by Barrie - 11/30/2003 9:03:43 PM]

Les H

Lots of people prefer to deal in cash, I can tell from your post that you are obviously not self employed. Lets just say thst if you are self employed and run your own business then cash gives you a bit of flexibility if you catch my drift.

There are new money laundering regulations coming in next year that mean that any business that wants to accept cash payments of more than £10,000 will have to register with Customs and Excise and will have to run stringent ID checks when taking those large cash payments. It won't affect private sales though obviously but it will not help the types that wander in to a car showroom with fifteen grand in cash to pay for a car( mainly builders for some strange reason), and believe me that is quite a common occurence.
With regard to the dreamer with the Vectra, everyone knows that if you want to lumber someone with your old P/ex, dealer or private seller, you aint going to get the best deal.
Good luck with the sale mate, the way things are at the moment you are going to need it

apples24

iTrader: (1)

oooohhh ya little lier

you told me you was trade when ya bought it off me

P1Fanatic

BACS is 3-4 working days and is free. CHAPS is sameday and costs about £25. The safest option in my opinion. Cash is too much hassle as you have to count it then find a bank to pay it in to.

Simon.

jameswrx

iTrader: (4)

I'm with you there mate. Really pi55e5 me off when people ring up and say, "I've got X amount CASH", like it's going to make you go, "ooohh, CASH?, okay, I'll take a massive knock on the price if it's CASH"

Edited to add

BTW, How much do you want for your car??.. CASH!!

[Edited by jameswrx - 11/30/2003 1:53:03 PM]

MattN

Les - actually I do own and run my own business.

However it's slightly different as a business dealing in cash obviously has some advantages (tax cashflow etc). But as a private sale, ultimately whether it's cheque cash draft CHAPS or BACS it's still all cleared funds - hence cash has no advantages in a private deal. Why would you discount something 20% becasue it's 'cash' over a bankers draft? Which you can check to make sure is real and clears in a week or so.

Apples - my own cars are sold privately - ones through the business are different.