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#61 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Guy as in the person from CBA on the phone with me saying the money was already in my account, just not yet visible to me at my end.
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#62 | |||
Banned
Join Date: Jan 2012
Posts: 2,489
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Quote:
I just got paid an insurance payout - funds yet to clear. I won't do anything until cleared for bodywork to start. When cleared it's mine and can't be reversed without legal action (if fraud etc) Why a seller wouldn't accept this is bewildering? |
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#63 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,393
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I always understood that when you get a bank cheque, that amount was held in escrow by the bank. I have only used twice though for my car and house deposit.
I would not be comfortable with either giving or receiving large amounts of cash. It has it's own risks. Since I now have online banking only since buying my place, it would be rather difficult for me too ![]() |
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#64 | ||
Banned
Join Date: Jan 2012
Posts: 2,489
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[QUOTE=MITCHAY;6471840]I always understood that when you get a bank cheque, that amount was held in escrow by the bank. /QUOTE]
Correct. It might be a paper item but it's effectively guaranteed cash as you can't obtain one without it being approved by the lender. |
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#65 | |||
FF.Com.Au Hardcore
Join Date: Feb 2008
Location: Perth, Northern Suburbs
Posts: 4,924
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Quote:
You cannot put a stop on a bank cheque. Period. The cheque is issued by the bank, and once done you have no control other than possession. Now if say you lose it (or want to claim you have lost it) then the BANK will flag the cheque, but require you to sign a declaration. If it is presented, then the bank will investigate. If you continue to claim that the cheque was stolen, then they dishonour the cheque and call the Police. You will then need to give the police a statement that the cheque was stolen (or lost then stolen) and they will investigate the depositor, and presumably charge them. If you have lied about it being stolen, you WILL be charged with making a false statement and probably Fraud. Believe me, much like a mother Bear and her cub, the last place you want to get is between a Bank and their money. They carry a LOT of weight with police. Ultimately, most people are law-abiding in such matters, and at some point you have to trust that things work, and if not the law will take care of them. Yes, unfortunately there are people that forge bank cheques. Because, lets face it, the world is full of stupid people. If I'm selling a car, and you are going to steal it, PLEASE do it using a forged bank-cheque. I would much prefer that to any of the alternative methods, breaking into my house and stealing the keys, car-jacking, or just straight out bringing your bikie mates to beat me up. Not only will you be charged with theft and fraud, but rather than simply looking for a stolen car (something the cops probably seldom bother with) I will have the bank backing me up, and will be able to identify you, and provide not only documentary evidence, but your finger-prints. Plus, knowing the way our legal system works, you'll probably go to gaol longer for the fraud, than if you had simply bashed me. Thing is, if people want to sink to these levels of paranoia, then no way should anybody be paying in cash. Simplest way is online transfer using your phone. Most payments, upto a certain amount, and now almost immediate.
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Time to Make the Hippies Cry Again |
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#66 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
I've been monitoring (and providing order information totaling some 70 pages) someone close to me using stolen credit cards on a weekly basis. All provided to Fraud detectives at a large police station for 7 months now. Person cottoned on and stopped. Police said they won't bother to pursue, after all, she 'only' stole between $60-$80k from 50+ victims but banks have not responded to police requests for information and it's simply not worth their while.. Apparently...
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___________________________ I've been around the world a couple of times or maybe more....... |
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#67 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,393
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Cash isn't foolproof. Nothing to stop you getting rolled or it going up in flames on either end of the deal.
No help through the bank system at all either. Nothing is 100%, common sense will prevent most problems. And even then you can still get ripped ![]() |
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#68 | |||
Banned
Join Date: Jan 2012
Posts: 2,489
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Quote:
I legit thought he was joking. He didn't find it funny...... Especially when I cancelled immediately to obtain great advice (hence thread) Last edited by MercuryT; 29-07-2020 at 09:19 PM. |
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#69 | ||
FF.Com.Au Hardcore
Join Date: Feb 2013
Location: Perth
Posts: 827
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I’ve told buyers they can pay as they like but keys not handed over until funds cleared. If bank deposit and they want it right away I would meet them at the bank and transfer it there.
Sold my last 4x4 for $14k, he deposited cash on Monday, let him know it cleared on Wednesday and he picked up Thursday. Another car was $8k and he wanted it ASAP so he went to the bank and got cash the next day. I pay however the seller wants, provided my gut doesn’t tell me otherwise. If the seller is a bit suss I won’t get that car. You made the right call. |
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#70 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
During this time, who owns the car? I guess the seller seeing paperwork and physical ownership hasn't changed hands. You are, (I'm sure) and honest person. Not many buyers I assume will pay for something in full then wait for the seller to confirm payment and finalise the transaction. I know I wouldn't. If you decide to shoot through or just point blank refuse to hand over what has been paid for who would help you? Police? Doubt it?
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___________________________ I've been around the world a couple of times or maybe more....... |
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#71 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,974
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I’m one of those type buyers, providing I don’t feel the seller is extracting the urine. It’s up to the buyer to put their case for expediency when terms are being discussed.
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#72 | ||
Banned
Join Date: Jan 2012
Posts: 2,489
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A Bank Cheque.
Reciept attached for $15 or so. No car collection until Cheque clears and in their account. Protects the seller from scams and protects me from driving around with 15K in notes in a bag. I honestly don't see how it could possible be viewed as negative as protects both parties perfectly. Christ my State Gov't office doesn't even accept cash any more as so outdated and unnecessary way of payment. |
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#73 | |||
FF.Com.Au Hardcore
Join Date: Aug 2007
Posts: 1,874
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Quote:
Under the circumstances you describe I can't see it would make any difference. Bank cheques used to have cred and were the top shelf way to pay many many years ago. The ease with which they, and similar paperwork, can be reproduced has meant that there use is now very limited. I find it interesting that some on here are very fearful of carrying large amounts of cash around to pay for a car yet do limited or no real checks to confirm that the car they're buying is a rebirth or similar. Another issue to consider when buying by cheque or other method that requires waiting for funds to clear is that the seller may during that time put the car under finance. When you pay cash and at the same time get your REVS or PPSR certificate you are protected from repossession. That protection doesn't apply days later |
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#75 | |||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,409
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Quote:
As for the topic once again, the ONLY issue I see about the seller is regards his aggressive nature as you've reported. He wanting cash only as I've said isn't a total deal breaker to me IF you or any person wants that car he's selling, his agressive nature if me in discussion with him I would have just said, ok mate thanks but no thanks see ya later. Whats the issue for some about a seller wanting cash only ? I know quite a few HONEST people who buy and sell, cash is their choice. Not every person is a crook so to speak. If you've dotted your i's crossed the t's with checks on whatever you buy as xxx000 quotes whats the big deal ? and IF someone else feels fine travelling along with $10 $20k plus in their possesion another were all different - I sure wouldn't be thinking oh I might get involved in accident prior - that its so bad that the ambos and whoever will raid my car, like what kind of negative mind set is this for eg..... I've also written out reciepts dated, deposit paid balance to pay etcetc.... Nothing is yours till proof paid in full. Selling privately is alot different comparing to dealing with a State Gov or corporate etcetc..... This is a friggin mole hill that has become in todays over regulated cocka mani world. The bloke is just selling a car wanting cash, he's a crook, report him to the ATO.
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#76 | ||
3..2..1..
Join Date: Nov 2009
Location: Bellbird park
Posts: 7,218
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If people are nervous about carrying cash just do the deal at the bank.
Many are open saturdays just to make it even easier. Sent from my iPhone using Tapatalk |
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#77 | |||
Banned
Join Date: Jan 2012
Posts: 2,489
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Quote:
There is a massive difference. Sure neither are foolproof but to say no difference is plainly wrong imo mate. |
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#78 | |||
FF.Com.Au Hardcore
Join Date: Feb 2013
Location: Perth
Posts: 827
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Quote:
I just tell buyers when funds clear they can have the car. If they want to deposit then wait, pay cash, meet at the bank, bank cheque, whatever it doesn’t bother me, whatever they are comfortable with I just let them know no cleared funds, no car. Never an issue selling a dozen or more cars over the years. I have paid cash, bank cheque, direct deposit for cars, some wait for it to clear, some don’t. Funnily enough my most expensive purchase ($31k) The old bloke chucked me the keys and said go for it when I test drove it, when I picked it up I gave him the bank cheque, he gave me the keys, easy as. |
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#79 | ||||
FF.Com.Au Hardcore
Join Date: Aug 2007
Posts: 1,874
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Quote:
Quote:
if in both cases you are waiting until funds are cleared then it's irrelevant how the cheque is obtained or whether it's a personal or bank cheque. plus you pay $15 for a bank cheque and go through bs procedures at the bank to obtain it. |
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#80 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,129
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Just paid for a car EFT interstate. Risk, but sale appeared genuine and bloke was happy to send immediate requested photos and plenty of phone call contact.
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#81 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,974
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Excellent - if it’s the F6X!
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#82 | ||
FF.Com.Au Hardcore
Join Date: Feb 2008
Location: Perth, Northern Suburbs
Posts: 4,924
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TBH I have mostly given up on private transactions for cars, and it isn't the payment, its just dealing with people's crap, and delusions. How often do you see it, old mate wants to sell his car, so he finds the most expensive example at a dealer (one that includes a $5k negotiating buffer) and prices accordingly. Then posts the usual psychotic advert on gumtree:
"I'm only selling cos I got a werk car" "I don't have to sell so no offers" "No time-wasters" "Phone call only cos I don't check my email" Plus these are usually the same mouth-breathers who have made horrendous "modifications" to the car, then flogged its guts out, and expect you to pay for their mistakes "cos it's rare."
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2024
Time to Make the Hippies Cry Again |
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#83 | ||||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Melbourne, Australia
Posts: 2,602
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Quote:
There's a cost base against the sale price. Which is usually higher than the sell price when it comes to private car sales.
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#84 | ||
lance
Join Date: Jan 2006
Location: Auckland, NZ
Posts: 509
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I pay cash for cars all the time.. Just bought a Zh Fairlane a few weeks ago, flew down, paid $11k in cash and $7k bank transfer. $10k will easily fit in your pocket if you get it in $100 dolar bills, you don’t need a backpack to carry it in.
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1971 XY GTHO replica electric blue 4spd black trim Sold 1984 XE Esp Fairmont Ghia 6cyl Sold 1984 Xe Fairmont Ghia 6cyl Efi Sold 1966 Xp deluxe sedan Sold Mk2 escort sedan 1600 Sold Mk3 cortina 2 litre Sold 1975 Xb Falcon 500 250/ column auto 94000 kms Current |
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#85 | ||
FF.Com.Au Hardcore
Join Date: Mar 2012
Posts: 963
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Cash is king /thread
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#86 | ||
FF.Com.Au Hardcore
Join Date: Apr 2011
Posts: 831
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Just comes down to personal preference. I sold a car and buyer direct debited 3/4 of the sale price into my account and gave me cash. Bought cars with bank cheques and with direct deposit.
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My G6ET: http://www.fordforums.com.au/showthread.php?t=11366213 |
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#87 | ||
Banned
Join Date: Jan 2012
Posts: 2,489
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#88 | |||
Banned
Join Date: Jan 2012
Posts: 2,489
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Quote:
It's just completely outdated and unnecessary. I'm happy with cash swapped at a bank withvsecurityvpersonnel, cameras etc. I'm not carrying it around in a car just because the seller stuck in 1973. |
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#89 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,409
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MT, it works both ways no matter changing times or security per say.
DD is just as easy handing over a wad of cash in the hand and if thats not secure you've got fingers missing lol....... All comes down to how you prefer to deal. When I've gone specifically to shop a car after my canvassing and you come down to negotiating the deal, nothing like having a handfull of green saying take it or leave it, haven't had 1 bloke or gal say, oh please thats unsecure can you arrange electronic payment I'll take your offer in the hand ! Buying the Sprint from new the buggas want to fleece you preffering buyers to take options of their loan schemes, didn't need it, here's my final offer you take ? at that amount it was a DD in full at a price I was damn happy with they probably not ![]() You see either we see $ther its not about being outdated.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#90 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,129
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Buying in cash shows youre serious. Money talks. Can negotiate better with a pocket full of pineapples
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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