Selling van advice

[Jupact583]

Evening all,

I've decided to take the plunge and sell my van, but can I ask what kind of experience people have of doing this? I bought my van privately and had to pay the guy over 2 days via bank transfer because of a daily limit for each transaction. There was a good level of trust between us both and it worked out perfectly. Since I put my van up for sale yesterday there has been a large amount of interest, but one chap wants to come up and potentially take the van this weekend and pay cash. It's a large figure between 25 and 30k and I just don't feel comfortable with that level of cash or am I over thinking it? I just wanted to know what other people's views were on this and how they would go about such a large exchange.

Thank you

 

[VWDAZ71]

That’s a lot of cash! Would be to risky for me.

If you’re not happy, then don’t do it.

 

[The Bear78]

I don't think that in this day and age, with all of the electronic banking options available, there is any need for cash purchases of that size. Certainly, you could have that amount of cash to hand but why wouldn't you want to put it in the bank?

 

[Newf]

Thanks a fair amount of cash to count, check if it's forged then have sitting in your house over the weekend until you could bank it on Monday.

 

[Chippie1]

I have bought and sold with large amounts of cash but always took to bank to check everyone’s happy. I wouldn’t be doing any cash transactions on a wkend

 

[nigelcro]

If you are taking that much in cash, go and get yourself something to detect counterfeit notes, either a pen or a lightbox.

(https://nbcc.police.uk/images/guidance_download/pdf/Counterfeit Currency.pdf)

Not wishing to get on anybodies wrong side, but this sounds like it might be someone from the travelling community, not many people have that much in cash in their back pocket.

 

[mark hobson]

I don't think that in this day and age, with all of the electronic banking options available, there is any need for cash purchases of that size. Certainly, you could have that amount of cash to hand but why wouldn't you want to put it in the bank?

Ask him to come on a week day and take it to the bank with him to pay in if he won’t then you no why

 

[david173]

Ask him to come on a week day and take it to the bank with him to pay in if he won’t then you no why

was going to suggest similar. or see if you can do a transfer or somthing in a bank giving both of you a piece of mind? I know with buying a house you can do fast transfers or CHAPS as i think it might be called? dont quote me on it as i could be wrong but worth a look into

 

[BuilderJay]

If you are taking that much in cash, go and get yourself something to detect counterfeit notes, either a pen or a lightbox.

(https://nbcc.police.uk/images/guidance_download/pdf/Counterfeit Currency.pdf)

Not wishing to get on anybodies wrong side, but this sounds like it might be someone from the travelling community, not many people have that much in cash in their back pocket.

It’s a VW not a Transit

 

[whodat]

As above (all answers) but also - when you take that amount of cash in to a bank, figurative alarm bells well be rung - in your name - not the person buying the van.

 

[Badjamin]

There'll be plenty of punters willing to pay BACS transfer and you're not in a rush. TBH if you're getting that much interest you might wanna cancel the ad for a month and then re advertise at £10k more hehe

Tell the guy to jog on and launder his money somewhere else - seems dodgy. I would expect to be rudely visited in the early hours of sunday morning by his associates - no to weekend cash sales!

If you're already on the alert I'd say stop right now thank you very much

Of course I get very paranoid about these things hehe

P.s. if you go on your mobile banking via the website - on a laptop or whatever, you can temporarily increase your daily transaction limit for 24hrs.

 

[d8smt]

Had the same issue myself a couple of cars ago. So firstly many banks now have limits on how much cash you can pay into a bank account annually, RBS for example is 3K per day and 24K max annually. Other main banks will have similar, it's to prevent money laundering. So you may be stuck with a load of cash if you go down that route.
What I did was to prearrange with a bank branch to meet the buyer at the branch and explain that it was a vehicle sale and the buyer insists on paying cash. They then check and record credentials for both parties(ID required), they then took all the notes and ran them through some sort of counting and detection machine. Once all was verified my account was credited immediately.
The banks now have also brought in a system to transfer one off large payments for large purchases, I did this when I bought my camper last month. Again, just prearrange with the bank and you can put through on the banking app..

 

[Mixersmate]

I went to pay some cash in a few weeks ago (nothing extravagant just my sons birthday money) and it was a right faff - firstly after closing the branch near my work then the branch near my home the next nearest Natwest is only open for 25 minutes per week. Secondly they made me use this awful machine to pay the cash in instead of allowing me to queue up to see the teller.

 

[ZEB]

lots of Counterfeit £50 in Wales at the moment. 'Scrunch test' exposed fake notes but it was too late