Safest way to take payment when selling a car????

[Steve Baker]

In the process of selling the Gti and unsure of the safest way to receive payment. Thought this might be a good place to start?  I thought a CHAPS transfer was best but according to my building society that doesn't take place at a specific time within an 8 hour working day. Not on Saturday either.   Apparently Building society cheque is not reliable now either.  I don't like the thought of in excess of £10K in cash either , dodgey notes etc....
Anybody with first hand experience ??? Comments greatfully received 

[wigit]

honestly i'd go CHAPS and when cleared let them have the keys, if they are genuine then they will understand, anything involving drafts I'd also wait for them to clear as heard similar stories

[Tamiyoman]

I paid cash for my car, straight from the bank still sealed in packs of 5K, either that or chaps or if he banks at same banking company, walk into branch and watch him make transfer and then get cashier to confirm receipt to your account.

[Steve Baker]

I paid cash for my car, straight from the bank still sealed in packs of 5K, either that or chaps or if he banks at same banking company, walk into branch and watch him make transfer and then get cashier to confirm receipt to your account.

Thanks, like the sound of last suggestion 

[Greeners]

Yup direct bank transfer is the way to go! 

[tony_danza]

I've only took a really significant amount of cash once, I got the guy to meet me in my bank, got the cashier to count it in and then gave him the keys. They even made us a brew.

Any decent person will understand why you're asking for a bit of security, I'd be worried if they didn't.

[Steve Baker]

They even made us a brew.

Sweet! 

[Edition30]

I took 17k cash 



Kind of stupid when I look back but it was 7PM and no banks were open and I needed to sell the car.

[Steve Baker]

I took 17k cash 



Kind of stupid when I look back but it was 7PM and no banks were open and I needed to sell the car.

 

[gulfstream11]

I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.

[Steve Baker]

I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.

If it is cash whats the safest denomination to have to avoid monopoly money?

[Nasir]

I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.

If it is cash whats the safest denomination to have to avoid monopoly money?

Take it to the bank with the seller, honestly it's the safest way.

[TANNER]

I've only took a really significant amount of cash once, I got the guy to meet me in my bank, got the cashier to count it in and then gave him the keys. They even made us a brew.

Any decent person will understand why you're asking for a bit of security, I'd be worried if they didn't.

I've done this too and was fine. Also had a feeling of grand theft auto about walking out the bank and getting into a new random car and driving off!

[tony_danza]

I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.

If it is cash whats the safest denomination to have to avoid monopoly money?

I wouldn't like 50s.

The main thing with notes is to feel them, the Bank of England fancy writing is embossed and that's the hardest bit to fake. If it doesn't feel right, then you start to look at the note more closely.

[Ifti]

I took part cash from my Buyer, and a bank draft from the person my buyer sold his car to - so payment from 2 different people!!

I wouldn't have done this normally, but buyer came with a photocopy of his passport and Police ID card - I also met both guys I accepted payment from - furthermore, both were established members of this forum 

If you take a bankers draft, take the buyer to the bank with you and pay it in and let the bank clear it - bankers drafts clear straight away, like a transfer, so by paying it in successfully you should be OK. Either that or get him to do a CHAPs transfer while you watch.