That is a brilliant post, Nosmo! You should be a personal finance journalist, if you’re not already!
For electronic transfers, I can transfer £9,999 numerous times in a day without the cost of a CHAPS transfer. I did this 4/5 times in quick succession when I bought my Macan from Porsche Swindon.
Selling - payment
- Wing Commander
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Simon
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
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Good write up.... have sold numerous vehicles this way privately, regardless of cost, all sales should be done on the sellers terms, if they are not happy... walk away.
Macan GTS.Vol/ grey turbo 21s, Bose, Panroof, heated seats and steering wheel, 18 way , red belts, LEDs, light comf mem, privacy , compass, 18 spare wheel, aluminium inserts, auto dim mirrors, smoked,r/rails,p/assi. CAYMAN GTS now
I sold my wife's Golf GTD last year and got plenty of time waster phone calls. Got one guy to visit and knew he was a no hoper and clearly wanted the car to resell. He looked around it and made absolutely no comment as it was immaculate. He asked my price, I told him it was advertised keenly, he said he could go no more than £1000 below my asking price and said what would you say to that ?
"Goodbye" was all I said and led him out of my garage. Nothing else said except him and wife muttering as they went to their car.
Then got the most perfect genuine seller a few days later who loved the car from first sight and didn't mind telling me. Totally open and honest. I even gave him a couple of hundred off as he was so good a buyer eventhough I'm sure he would have bought at full price.
"Goodbye" was all I said and led him out of my garage. Nothing else said except him and wife muttering as they went to their car.
Then got the most perfect genuine seller a few days later who loved the car from first sight and didn't mind telling me. Totally open and honest. I even gave him a couple of hundred off as he was so good a buyer eventhough I'm sure he would have bought at full price.
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Cash is king, if handled in the proper way.
About 10 years ago I sold a Merc to an insistent buyer for £22,000 cash. Without seeing the car, the caller was certain he would pay my asking price plus £500 extra for my private reg, too good to be true really. I took a friend (Karate black belt) and insisted we meet in a Barclays Bank car park I know (video surveillance), 4 of them came in 2 cars, the sale was agreed, I kept the keys while we went into the bank with a plastic bag full of cash. It was counted by machine, all was good and immediately credited to my account, we completed the V5 in the bank, I gave them both keys, they drove the car away. I saw them about a year later as a prosecution witness in Hemel Hempstead Court, they were charged with theft and money laundering. One of them worked in the accounts dept of a mobile phone company and made occasional cheques out to their 'company', over £3million in all. They were buying quality cars at the asking price and shipping them abroad. They were found guilty at the very end of the court day. Sting in the tail ..... The private security firm had no-one to take them into custody so the Judge released them overnight with instructions to return next day for sentencing - you guessed it, none them turned up.
"Every year is getting shorter, never seem to find the time" Pink Floyd.
BMW 2019 440i Convertible
2016 Panny S e-Hybrid Black/Cream sold Apr 19
Macan S VG/Luxor, sold @ 9700 miles March 18
Macan SD Dark Blue/ Pebble, sold @ 16k miles Dec 16
BMW 2019 440i Convertible
2016 Panny S e-Hybrid Black/Cream sold Apr 19
Macan S VG/Luxor, sold @ 9700 miles March 18
Macan SD Dark Blue/ Pebble, sold @ 16k miles Dec 16
My Barclays online banking same day transaction limit is £50K which they "weren't aware of" when they said they'd do a CHAPS transfer for me for a mere £25 fee!Wing Commander wrote: ↑Wed Oct 10, 2018 7:22 pm That is a brilliant post, Nosmo! You should be a personal finance journalist, if you’re not already!
For electronic transfers, I can transfer £9,999 numerous times in a day without the cost of a CHAPS transfer. I did this 4/5 times in quick succession when I bought my Macan from Porsche Swindon.
Expired Porsche code PJVNAUH5 Rhodium SD Agate & Pebble
Not anymore.. too much of money laundering risk. I prefer electronic transfer anyday..Bigboyrolo wrote:Cash is king, if handled in the proper way.
About 10 years ago I sold a Merc to an insistent buyer for £22,000 cash. Without seeing the car, the caller was certain he would pay my asking price plus £500 extra for my private reg, too good to be true really. I took a friend (Karate black belt) and insisted we meet in a Barclays Bank car park I know (video surveillance), 4 of them came in 2 cars, the sale was agreed, I kept the keys while we went into the bank with a plastic bag full of cash. It was counted by machine, all was good and immediately credited to my account, we completed the V5 in the bank, I gave them both keys, they drove the car away. I saw them about a year later as a prosecution witness in Hemel Hempstead Court, they were charged with theft and money laundering. One of them worked in the accounts dept of a mobile phone company and made occasional cheques out to their 'company', over £3million in all. They were buying quality cars at the asking price and shipping them abroad. They were found guilty at the very end of the court day. Sting in the tail ..... The private security firm had no-one to take them into custody so the Judge released them overnight with instructions to return next day for sentencing - you guessed it, none them turned up.
Sent from my SM-N960F using Tapatalk
Macan Turbo PP - Collected June 2018
LED PDLS, Pano, Air Susp, ACC, Entry & Drive, 21" Turbo 2 wheels, LDW, Heated front & rear seats, Turbo Interior Packagae, PSE
Panamera 4S (970.2) - Sold May 2018
911 C4S (991.1) - Sold May 2017
LED PDLS, Pano, Air Susp, ACC, Entry & Drive, 21" Turbo 2 wheels, LDW, Heated front & rear seats, Turbo Interior Packagae, PSE
Panamera 4S (970.2) - Sold May 2018
911 C4S (991.1) - Sold May 2017
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Nosmo great info . Brilliant write up.
I have sold privately before successfully (some time ago) and it’s always on my terms.
Never had any issues.
I have sold privately before successfully (some time ago) and it’s always on my terms.
Never had any issues.
GTS
There are cases where a bank transfer can be recalled. My bank outlines the cases where a payment is "made by mistake" or otherwise disputed.
Eg: But also:
So moving the money to another account so they "can't take it back" doesn't really work.
Ultimately, if someone is going to try to receive goods by fraud or deception, you're fucked and will have to get the police involved.
Edit: to say that this has actually happened to me. Many moons ago, I was overpaid by bank transfer and the payer raised a recall request due to the mistake. I had already. moved the money away to a savings account, so the first I heard about it was Barclays charging me for the not having enough funds in my account to pay it back. Needless to say I stopped banking with Barclays shortly afterwards, but the above T&Cs is from First Direct.
Eg: But also:
Which seems to be a nice catch all.If a payment is made into your account as a result of fraud we can deduct it from your account at any time.
They'll treat it as an informal overdraft from you if this leads to you account either:
* going overdrawn and you don't have covering o/d facility or
* going over an existing o/d facility.
So moving the money to another account so they "can't take it back" doesn't really work.
Ultimately, if someone is going to try to receive goods by fraud or deception, you're fucked and will have to get the police involved.
Edit: to say that this has actually happened to me. Many moons ago, I was overpaid by bank transfer and the payer raised a recall request due to the mistake. I had already. moved the money away to a savings account, so the first I heard about it was Barclays charging me for the not having enough funds in my account to pay it back. Needless to say I stopped banking with Barclays shortly afterwards, but the above T&Cs is from First Direct.
Used to have 2016 Macan Turbo PHCKCL70
Previously a 2014 Macan Turbo.
Now a 2021 Tesla Model 3 LR
Previously a 2014 Macan Turbo.
Now a 2021 Tesla Model 3 LR
goron59 wrote: ↑Thu Oct 11, 2018 7:16 am There are cases where a bank transfer can be recalled. My bank outlines the cases where a payment is "made by mistake" or otherwise disputed.
Eg:
Screenshot 2018-10-11 at 07.10.37.png
But also:
Which seems to be a nice catch all.If a payment is made into your account as a result of fraud we can deduct it from your account at any time.
They'll treat it as an informal overdraft from you if this leads to you account either:
* going overdrawn and you don't have covering o/d facility or
* going over an existing o/d facility.
So moving the money to another account so they "can't take it back" doesn't really work.
Ultimately, if someone is going to try to receive goods by fraud or deception, you're fucked and will have to get the police involved.
Edit: to say that this has actually happened to me. Many moons ago, I was overpaid by bank transfer and the payer raised a recall request due to the mistake. I had already. moved the money away to a savings account, so the first I heard about it was Barclays charging me for the not having enough funds in my account to pay it back. Needless to say I stopped banking with Barclays shortly afterwards, but the above T&Cs is from First Direct.
A sales receipt which I had asked him to sign plus the recorded convo at his bank asking for the transfer as well as his affirmative response (during his call to the bank) to the question if he made the payment of his own accord (twice) seems pretty watertight to me. Also, the V5 contained his signature when I sent it back to the DVLA.
Edited to say: Clearly, there will always be chancers. Trying to cover most angles to allow you to show the authorities that you have really sold a car seems logical and wise, especially with the amounts involved. I would also not accept cash, however tempting. Cash, nowadays, seems a way to launder. Anyone with this sort of money to spend has a bank account with all associated technology to move it and should have no (obvious) reason to have this much in cash. There is no right or wrong here, just steps to minimise risk.
Deposit paid 14/12/13 - Picked up on 14/03/15.PF9FZLV2
GTS: PHVVUV96 Picked up on 16/06/16
Cayman GTS on order - due for delivery Nov '18
GTS: PHVVUV96 Picked up on 16/06/16
Cayman GTS on order - due for delivery Nov '18
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