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I've agreed a price to sell my car to a garage after they check the car over.
I'll be popping in later to hopefully complete the transaction. Now what I was wondering is what kind of payment method I can expect. And if it's a cheque should I not release the car until funds have cleared?
I'm a bit cautious in these matters.
Thanks
They should have the ability to do a bank transfer
Don't hand the car over without cash or bank transfer inhand.
Dealerships and indies do go into receivership. A Cheque is useless if the place folds then re-opens.
Cashiers cheque should be fine as well.
Paypal Gift FTW.
There was a topic recently on Pistonheads. Bloke went to a big chain, handed over his 14k car and within a couple of days the dealership had folded. He tried to get his car back but it'd vanished and the receivers weren't very helpful. End result was he had lost his car even though it was his and he hadn't be paid. The dealership re-opened.
The salesmen that he dealt with were in the dark and the chain had folded due to cash flow issues.
They offered a cheque payment. Which I politely refused and was instructed that there guy who is the only person who can do bank transfers is off for 3 weeks.
I'm sure it would of been fine but just a niggling feeling that if it did bounce for whatever reason, getting payment could become a hassle.
I just found it a bit odd that in a large dealer only one person could do a bank transfer.
Odd indeed, what do they do with their money whilst he's away?
Oh well, obviously don't want it that badly, you could probably sell it yourself for more (not tthat it's the point really).
Weird. 3 weeks? Its very rare in any company (especially a sales-driven one) to get more than 2 weeks off. This 'person' must also be responsible for other things/matters. Surely hes got cover?
It could literally be a bank transfer costs them more than a cheque. A cheque can take a week to hit your account- regardless of what we are told nowadays. Its in your bank pretty quickly but they sit on it don't they?
I did try the private market but the cars around the 7k which is difficult for private selling.
I'm a bit of a worrier (spl) so decided to leave it.
They did the whole in 3 weeks the price might change etc so not my kind of people really
Went to another garage and offered me a little more in cash anyway so all will hopefully end well tomorrow.
sambalaws - MemberThey offered a cheque payment. Which I politely refused and was instructed that there guy who is the only person who can do bank transfers is off for 3 weeks.
Crikey, 3 weeks! What sort of business is that? I bet they want your car for "free" so that they can sell it off before paying you.
I'm sure it would of been fine but just a niggling feeling that if it did bounce for whatever reason, getting payment could become a hassle.
Your gut feeling is telling you they might screw you so avoid the hassle even if it means selling off at another garage for less but with no bad gut feeling.
I just found it a bit odd that in a large dealer only one person could do a bank transfer.
There you go they see you cumming. A large dealer with only one person able to do bank transfer? They are really bunch of cowboys aren't they ... 🙄
Edit: bank transfer does not really cost that much and if both are using the same bank there is no charges at all.