From: huge@ukmisc.org.uk (Huge)
Newsgroups: uk.finance uk.rec.cars.misc
Subject: Re: Buying a car with cash - preferred method?
Date: 3 Aug 2003 10:57:48 GMT

Dave Plowman  writes:
>In article <3f2c19d9$0$11382$cc9e4d1f@news.dial.pipex.com>,
>   James W. West  wrote:
>> I have bought and sold several cars for cash over the years and the
>> preferred route seems to be £50's  I have seen horror stories about
>> people rolling up after banking hours with a fake bankers draft and
>> making off with a car when it isn't possible to verify it.
>
>Yes. Last time I paid like this they asked for a letter from the bank as
>well saying it was genuine.

And how hard is it to forge the letter as well as the draft? What I've done
in the past is call the issuing branch (don't accept the number from
the purchaser - look it up yourself) and check that they issued the draft
and that all the details are the same as the draft they issued. Outside
of banking hours? I suspect I'd not accept a draft.

When selling, the only satisfactory method is to wait until the money
has cleared before releasing the car. The purchaser might not be very
happy about it.

The last two times, I've taken cash - £8K the last time. Checking
all the notes for forgeries is a PITA.

As for buying, the last time I skimmed a draft for £19K over the counter
and the bloke put it in the drawer without even looking at it.


-- 
       "The road to Paradise is through Intercourse."
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