Selling a car... Banker's Draft.

[scratcher]

Can anyone give me some advice and pointers on this one.
I have a buyer very interested in my car, they want to pay with a banker's draft and send a haulage company to collect the car. They want to put the cost of the company in the draft and for me to pay them.

I know a banker's draft is safe enough as my ex bought her Mini with one, but she's honest(ish), anyway.... Is there any sort of scams about where people can claim the money back from my bank or anything?
And how long would it take for it to clear?

Thanks

[D4WNO]

No no no, why on earth shouldn't they deal with the payment themselves? It's just not worth any type of risk.

[J8TRO]

Sounds dodgy to me, always take a bankers draft straight to the bank to get it checked by your bank before you let the car go. I did this in the past after hearing a local guy let his £18k Evo go on a bankers draft only to find out it was a fake.

[Spooky]

If the bankers draft is genuine, there wont be any issues in the buyer letting you deposit it, confirming the money before you release the car.

Naturally, large sums of cash are not everyones cup of tea but when it comes to selling a car, thats the only way I would do it.

If you are not happen with the bankers draft, ask them for cash or get them to do a bank deposit.

There is always an alternative...and remember, you want to make your life easier when its you selling your own property, don't let the buyer dictate to you

[scratcher]

I see your point about them not doing it personally Dawn.

They stated in their email
'I would want to know if i can rely on you to get the rest of the funds to the haulage company after the receipt of the payment and its authenticity has been confirmed by your bank and cleared your account before proceeding with the rest of the transaction.'

So I'm guessing they're saying to let it clear before the car is collected by their chosen company? Once it has cleared can they re-claim the money in any way, like with a credit card transaction, by saying it was a stolen card?

They asked if they can pay with the banker's draft as it was a quicker way for them to get them money.... Am I too gullible?

[J8TRO]

Why don't you tell them to pay the haulage company? why do they want you to do it?

[Spooky]

I would say no to that!

Hold out for another buyer Rich

[D4WNO]

Just sounds like a blatent scam. If you feel uncomfortable enough about it to have to ask us lot, you have your answer...

[scratcher]

Good points

I'll say cash and they pay the haulage or no thanks.

Cheers for your help team

[5teve L]

Tell them cash or direct transfer into your bank. I'd stay away from bankers drafts if I were you.

[sphinX]

Straight up scam

[scratcher]

Ok, back onto this banker's draft idea...

If someone gives me a banker's draft and it clears into my account, is there any wa they can reclaim the money?

[Mart]

Yeah, upto 2 weeks afterwards, or so I'm led to believe.

Cash is king, or a direct bank transfer as a 2nd option.

Too many sh1tbags pulling scam stunts to warrant trusting no-one (apart from friends & family of course) these days...

[Ricardo]

Whatever happened to wanting to buy a car in good ol bangers and mash

Best way to haggle a decent price, pop to the local branch, withdraw the readies, then go pick up yer new motor.

[Spooky]

Feel the fibre of the fabric

[Ricardo]

Feel the fibre of the fabric

It's all about the Royal Foils, the Queen Quids

[Mart]

Nelson eddies

[garya]

i wouldnt do the bankers draft idea mate tbh i woudent trust it.better off either meeting them with the car or them coming to collect it with cash.saves eny hassle mate.

[robbie506]

bankers drauft cannot be cancelled inless they are reported as lost or stolen not like chqs or anything like that.

DONT TRUST IT!!!!

if they want to pay by bankers draft tell them your keeping the car intill payment has cleares.

problem solved

[bye_all_c_ya]

cash on collection as stated and check it real as i know of someone selling a car and most the notes was just good fakes 4k worth if i remember correct

[gimme5]

bankers draft only means that the bank is verifying that the person as the funds at that particular time nothing stoping them from withdrawing it,i sold a car a few years ago person turned up with one when i stated cash,he said it was good as,i said sorry and waited for funds to clear before he took it,took two days!

[andyrg]

Id personally ask for a bank transfer. into a account you don't use, as soon as the money hits transfer it into a different account.

[philr5t]

i work for a dealership and we do take b-drafts daily for funds what you will have to do if you want payment this way is get it verified with what ever bank its coming from i.e lloyds,it is cleared funds i.e like a bank transfer only its on paper a draft can only be made up if there is this amount in an account. But to be on the safe side mate it will cost them about £20.00 to have the draft made up at the bank and for about the same amount they could do a chaps transfer which is instant and will show up in your account within a couple of hours.

i would try to stick with the chaps payment mate alot quicker/safer and easier

all the best phil

[scratcher]

Cheers for all the replies

I've stated that the car would not be leaving me untill the money is cleared into my account, I was worried that they could claim it back though in some kind of scam.
Cheers for the two week info Mart (thats one person that reads your posts ) I'll have a search around for it tomorrow, i had a quick look earlier but nothing useful came up.

I'll look into the CHAPS transferes too. I'm a bit wiery of giving out details to strangers, you can't be too careful these days