Offer received for my E85 from eBay

K

ksher

Veteran
 Bedfordshire
Some may know I am trying to sell my 2.5i Sport privately before taking the delivery of E89. I received question this morning, and received the following reply this evening.

"Hi,
Thanks for the info and additional pics.
I've done a bit of research and to fix the damage (mainly a decent front bumper re-spray, but also the soft top repair) is looking like it would cost me about £800+. Whilst this is quite a lot of money, I don't mind getting it sorted if the rest of the car is in good condition and we can agree on an appropriate price.
The OEM extras are nice to have, but the buyer's guides I've read say that these shouldn't add to the 2nd hand value, so, as long as the car is as described and there's nothing wrong with it (HPI clear etc), then I'd give you £12,400 for it (as per What Car's valuation for a car in good condition minus the damage repair value)...
...I know this is quite a bit lower than your original price, but I imagine it's probably around £1k more than you'd get PX + even if it was comparable, you'd obviously get a better deal on another car if not trading in.
If we can agree on the above, I could sort out insurance and come up with cash or a banker's draft (whatever you prefer) on the premise that I'd buy the car as long as it was as described and there wasn't anything wrong with it. I would, however, feel very uncomfortable handing over money without being able to test drive the car myself - I know you mentioned otherwise in your ad, but is this something you would reconsider?
Also, I work fairly long hours in central London during the week, so drawing cash from the bank and getting up to Luton by this Tuesday is going to be virtually impossible - could you hold until Saturday? "

I said I will not take cash/bank draft, and only accept cash or bank transfer at the bank. Did anyone in the past accept more than £3,000 in cash when selling the car? The offer was too low anyway.
 
I took £12k for an MX-5 once, the buyer took cash to my bank (about a mile away from my house) and once they'd counted it and put it into my account (while we waited) we went back to my house and I gave him the keys etc.

Is the price worth it?
 
Wondermike said:
I took £12k for an MX-5 once, the buyer took cash to my bank (about a mile away from my house) and once they'd counted it and put it into my account (while we waited) we went back to my house and I gave him the keys etc.

Is the price worth it?
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Yes. It will do. But I will not check (or know how to check) every bank note myself at home and release the keys.
 
JimmyPop said:
What was your initial price? Looks like someone who's going to stick to his guns!
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£13,750 now. The slight scratches and the small hole (3mm wide and 0.5mm deep) are not worth to fix (even I have OCD). OEM carbon rear diffuser, iPod inteface, plus xenon headlights should be worth extra £700.
 
Wondermike said:
I took £12k for an MX-5 once, the buyer took cash to my bank (about a mile away from my house) and once they'd counted it and put it into my account (while we waited) we went back to my house and I gave him the keys etc.
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I've done that twice now (most recently with my zed roadster). :thumbsup:
 
ksher said:
Wondermike said:
I took £12k for an MX-5 once, the buyer took cash to my bank (about a mile away from my house) and once they'd counted it and put it into my account (while we waited) we went back to my house and I gave him the keys etc.

Is the price worth it?
Click to expand...

Yes. It will do. But I will not check (or know how to check) every bank note myself at home and release the keys.
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If it is paid into the bank you wont need to check the notes. If he's nervous about the timing you could take the paperwork and sign the car over in the branch - just leave the car at home, in case. Otherwise see if you can get a bankers draft from his bank on a Saturday - go with him when it's drawn up... there are an increasing number of forgeries. Unless you use the same bank, which would make life easier!

All sounds a little OTT, but better than being the one that got caught out.
 
Bankers drafts can still be a bit dodgy. Cash - the bank cashiers are well used to dealing with it and spotting forgeries, and as the others have said, once it's paid in, there is no comeback, it's up to the bank to check it as they accept it (I think, no evidence to support that!).
 
In Australia I've forked out many times in cash - up to 50k and also received that figure. I'd just tell him ..........bring me the money, and drive away no more to pay!!
 
The price is up to you to consider in the context of the whole trade.

Whatever you do the do not take a bankers draft, which I know you said you won't. It's one of the most common methods of car (and boat / equipment) thefts using primarily forged but sometimes stolen drafts. First you hear is a week later it's returned unpaid.

I'd have no question about taking the funds in cash, counting it and then handing over the keys or as others have said paying it into a bank.

I purchased a car unsder similar circumstances and with my authorisation the person called my bank to confirm I had made a bank transfer and that it was authentic.
 
Just to clarify on the bankers draft, I certainly wasn't suggesting just taking one from someone who just turned up with it. I would accept a bankers draft if I was there with the buyer at the bank watching when it is drawn up. I assume then you would be safe? So long as they don't pull the old switcheroo at the counter.
 
Echo what the others say about banker's drafts - there's just too many forgories going on (I worked in business cash of a bank for 5 years). Glad you've decided to rule them out.

Cash: I accepted over £8k in cash when selling my last car, and also paid over £10k in cash for my Z4 when buying it. Each time it was on weekends so banks were shut, so there was a little bit of faith from both parties in each case! If I was doing it again I'd always try and do it on a weekday while banks are open and ask the seller to accompany you to your bank, but obviously this is rarely practical. What CJ suggests about contacting the bank is a good idea too, but again relies on the bank being open.

If you deal in cash at your house, take as many details from the buyer as possible: photograph them next to something recognisable including the date, photocopy/scan of their driver's license and passport, invest in a note checker pen and randomly test A LOT of notes. And it can be a PITA but count the money completely!
 
I would never take cash, go with your purchaser to the bank and just transfere the money from his account to yours, as long as you both bank at the same bank=simple :)

Or, as in my last sale get a Bankers Draft and get the bank employee's name who wrote the draft and give them a call, however my buyer was fairly well known in his line of business so it was also easy to check online who he was and to his integrity. :)
 
Here's the simple easy solution - guy wants to buy the car - agree the price. Go with him to his bank (or nearest branch) and transfer the money to your account. Easy and relatively failsafe! :thumbsup:
 
When I sold my previous Z, I had issues verifying the bankers draft even though the seller was with me. The bank REFUSED to tell me if they issued the draft, some rubbish about data protection.

Was very annoying, I did go ahead in the end but the system is flawed.
 
pvr said:
When I sold my previous Z, I had issues verifying the bankers draft even though the seller was with me. The bank REFUSED to tell me if they issued the draft, some rubbish about data protection.

Was very annoying, I did go ahead in the end but the system is flawed.
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I had no problem like that, it was confirmed to me ALL the draft details, I think as long as the buyer gives permission for the bank to give the information there should be no problem.
 
The buyer and her BF are coming to see my zed tonight, and arrange the transfer of money (CHAPS) at bank tomorrow. But only her BF will complete the money transfer and drive the car away. Should I leave the new keeper section blank in the registration document and hand it to BF? But I will get her details, i.e. name and home address tonight after taking the deposit.

Normally, the form will be completed and signed by both parties and sent by the seller. Buyer only keeps the green part. Will it cause any problems if I let the buyer to complete the form and return it to DVLA? I don't want to put anything in the form until full payment is received.
 
I accepted £9K for a 330 i had, i went to the bank with the buyer and paid the money in straight away making sure the money was verified before starting any paperwork or handing over keys. I would never accept a bank draft or cash when i wasn't able to deposit it.
 
ksher said:
Normally, the form will be completed and signed by both parties and sent by the seller. Buyer only keeps the green part. Will it cause any problems if I let the buyer to complete the form and return it to DVLA? I don't want to put anything in the form until full payment is received.
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Yeah, they could never fill it in, and run up a string of parking and motoring offences all in your name. Definitely send the form back, it's your only recourse.
 
I left the form blank until my buyers Bankers Draft cleared, then I filled it in and sent it off the following week
 
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