money transfer, it usualy clears instantly throught the large banks.

 

bankers drafts are like cheques and need to clear, i found this out when i sold my S. I know my bank manager who kindly did extra checks with the bank that issued the draft. Be very careful, lots are cars are effectively 'stolen' with forged bankers drafts so don't release car until it has cleared.

Personal bank transfers are max of £10k in a day, found this out when i sold my 130i so had to do that and some cash

Only way i would do it now is.... buyer walks into my bank with cash in hand and pays into my account. Job done

Or chaps payment if they are prepared to pay fees!

HTH

 

it's probably just me, but having a wedge of cash on me (as a seller), with someone i dont know just doesnt feel safe.

my personal preference would be bank transfer; completely eradicates any counting issues or suchlike.

 

I bought my s2k using CHAPS transfer. I sent the money on the Tuesday and got the train down to collect the car in Birmingham on the Thursday and the money still hadn't cleared
A few phone calls later and the bank agreed to guarantee that the money was on it's way to the sellers account so i could drive away with the car. Was a stressful 30mins trying to sort it all out

 

Yes that sucks

These days the banks are finally getting away from this 3-4 working days to clear crap. My bank (b soc) Nationwide has recently brought in more like instant transfer but I don't know yet what sums / limits are involved.

 

My S was sold 2 weeks ago today

We discussed the terms over the phone as it was obvious they were serious as the were coming down from Warwickshire

Bankers draft for 95% of the value and then cash for negotiating. Ask who the draft will be with (good bank) and that they only get the car once the draft is deposited at your bank

 

Did you wait for draft to clear or release car once they had paid it in?

 

Selling to a fellow member on here certainly gave me some peace of mind. he placed a deposit by bank transfer to reserve the car and then transferred the remainder when he came to collect the car. Unfortunately he had a problem with the bank (someone hacked into his account) but as we had already built a degreee of trust it wasn't a problem and he got the car / I got the money! certainly feels better dealing with someone who has been on the board for a while....

 

Almost seems easier just to keep the car!

 

I released the car when the deposit was made, we were with the same banks so I was happy with letting the car go

It was a sad moment seeing the car you've loved so much drive away from you Oh well those times will return but by then I may be tempted in to something very differant Maybe something like a GranTurismo Spyder