Buying a Used car - Payment

[MercuryT]

Ok guys I'm interested in a few cars to add to mine.

In 20 years of buying (about 6 cars) I've NEVER paid in cash - Bank Cheque always preferred and fine, no worries.

This seller on Merc insists cash only. No bank cheque acceptable whatsoever.

I questioned it as seems strange, but he got upset and told me cash is how you pay.

Informed people here - is this a scam? What's the reason for insisting cash only? I'm not keen carrying 15K in notes in a car with no security.

Thanks all.

[PG2]

Originally Posted by MercuryT

Ok guys I'm interested in a few cars to add to mine.

In 20 years of buying (about 6 cars) I've NEVER paid in cash - Bank Cheque always preferred and fine, no worries.

This seller on Merc insists cash only. No bank cheque acceptable whatsoever.

I questioned it as seems strange, but he got upset and told me cash is how you pay.

Informed people here - is this a scam? What's the reason for insisting cash only? I'm not keen carrying 15K in notes in a car with no security.

Thanks all.

Bank cheques are too easy to create fraudulent copies of these days.

[MercuryT]

Originally Posted by PG2

Bank cheques are too easy to create fraudulent copies of these days.

Ok fair enough.

Just seems very aggressive on cash only (maybe been burnt before then on a B Cheque)

[my67xr]

I have always bought and sold car's with cash, over 60 of them in the last 34 year's
Cheques can bounce etc

[Citroënbender]

I may be jumping at shadows, but something about that ‘03 makes me a little uneasy about its overall condition.

[MercuryT]

Originally Posted by Citroënbender

I may be jumping at shadows, but something about that ‘03 makes me a little uneasy about its overall condition.

05 mate.

Pictures lying you reckon?

[Citroënbender]

I ran the rego, says ‘03 build. Maybe first registered 2005?

There’s what looks like crazing to the front bar below the RHS inner round lamp, and possibly a bit of shrunken trim popping up above the rear screen left upper corner.

I’d be running the VIN through a decider to see the as-built specs, including what wheels and exhaust. And seeing how long it’s been in Tasmania.

[MercuryT]

Originally Posted by Citroënbender

I ran the rego, says ‘03 build. Maybe first registered 2005?

There’s what looks like crazing to the front bar below the RHS inner round lamp, and possibly a bit of shrunken trim popping up above the rear screen left upper corner.

I’d be running the VIN through a decider to see the as-built specs, including what wheels and exhaust. And seeing how long it’s been in Tasmania.

Wow that's interesting. It was for sale 2 years ago and done "700"klms as no "time.

It's Registered as a S500 2003 here on on Rego check. I was wrong.

Clearly mods done but now I'm thinking it's dodgy as. It's an Interstate car so I don't need road worthy etc upon sale unlike most jurisdictions.

More I asked the more he dodged. I think he's worried as he's vanished when I asked a few questions.

[MercuryT]

[QUOTE=Citroënbender;6471459]
There’s what looks like crazing to the front bar below the RHS inner round lamp, and possibly a bit of shrunken trim popping up above the rear screen left upper corner.
/QUOTE]

You know your stuff hey. I can't even see what you stated but fantastic advice.

I think there's a lot more reasons as to why only driven "700ks" in 2 years than "lack of time".

In any case his cash only aggressive **** annoyed me off (Not even bank instant transfer?) so I'll just go back to my Boxster S who wants a sale not hinders it.

[MercuryT]

Originally Posted by my67xr

I have always bought and sold car's with cash, over 60 of them in the last 34 year's
Cheques can bounce etc

As per PG2 fair enough. Thanks.

Just interesting as in 2 decades I've never been asked for cash.

What, so you sell a used 50K Mustang and buyer turns up with a suitcase of notes Mafia style or something?

[stevefreestyle]

Originally Posted by my67xr

I have always bought and sold car's with cash, over 60 of them in the last 34 year's
Cheques can bounce etc

There are serious dangers with cash (proof of purchase & ownership and the sellers legitimacy - not stolen etc) - you have been lucky !

[fordomatic]

Remember selling my VY Clubsport, guy takes it for a drive, whips out 20k in 50’s and takes the car. It was a Sunday, i spent all night Googling how to tell fake $50 notes.

Seems pretty common now, I’ve bought my last 4 cars with cash. They were AUs though so was only $100 each.

[MercuryT]

Originally Posted by fordomatic

Remember selling my VY Clubsport, guy takes it for a drive, whips out 20k in 50’s and takes the car. It was a Sunday, i spent all night Googling how to tell fake $50 notes.

Seems pretty common now, I’ve bought my last 4 cars with cash. They were AUs though so was only $100 each.

Exactly.

I'd trust a bank cheque with Receipt over a suitcase of notes that are far easier to be fraudulent.

Dunno. Just seems so strange as previous Bank Cheques exist for a reason as full security for both parties.

[Dr Terry]

Originally Posted by MercuryT

Exactly.

I'd trust a bank cheque with Receipt over a suitcase of notes that are far easier to be fraudulent.

Dunno. Just seems so strange as previous Bank Cheques exist for a reason as full security for both parties.

I believe at one time a bank cheque was considered as secure or even more secure than cash. If you lost a bank cheque, it was like losing cash, it was gone & you had to wait some time for the cheque to be stopped, before you could recoup the loss.

These days however a bank cheque can be stopped straight away, like a personal cheque. So the buyer could pay by bank cheque, drive away & stop the cheque before you had a chance to bank it. I've seen this happen several times.

Dr Terry

[hayseed]

Originally Posted by Dr Terry

I believe at one time a bank cheque was considered as secure or even more secure than cash. If you lost a bank cheque, it was like losing cash, it was gone & you had to wait some time for the cheque to be stopped, before you could recoup the loss.

These days however a bank cheque can be stopped straight away, like a personal cheque. So the buyer could pay by bank cheque, drive away & stop the cheque before you had a chance to bank it. I've seen this happen several times.

Dr Terry

Have you had to cancel a Bank Cheque..??

Because, Unless the Rules have recently Changed It's nowhere near as simple as cancelling an Ordinary Cheque..


But happy to be Corrected..

[MercuryT]

Originally Posted by Dr Terry

I believe at one time a bank cheque was considered as secure or even more secure than cash. If you lost a bank cheque, it was like losing cash, it was gone & you had to wait some time for the cheque to be stopped, before you could recoup the loss.

These days however a bank cheque can be stopped straight away, like a personal cheque. So the buyer could pay by bank cheque, drive away & stop the cheque before you had a chance to bank it. I've seen this happen several times.

Dr Terry

Are you sure?

Maybe each bank is different but Commbank told me Bank Cheques can't be cancelled unless with consent of the person home.ated.

So in effect, they can't be and once received it's guaranteed money.

[xxx000]

Originally Posted by MercuryT

Are you sure?

Maybe each bank is different but Commbank told me Bank Cheques can't be cancelled unless with consent of the person home.ated.

So in effect, they can't be and once received it's guaranteed money.

B.S.
Bank cheques can be stolen, forged or just cancelled for lots of reasons

They can also be purchased with non existent funds as has happened previously so no they are not guaranteed money at all.

Banks have even cancelled their own bank cheques after issuing them.
Good luck trying to then take legal action against the bank afterwards.

People have tricked banks before and they'll continue to.
A combination of forged cheque and dodgy drivers licence and you've given your car away for free


Bank deposits can be forged or faked so hence why cash is still king with most people.

[Crazy Dazz]

Originally Posted by Dr Terry

These days however a bank cheque can be stopped straight away, like a personal cheque. So the buyer could pay by bank cheque, drive away & stop the cheque before you had a chance to bank it. I've seen this happen several times.

OMG Not this Bull**** again.

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.

[Yellow_Festiva]

Originally Posted by Crazy Dazz

OMG Not this Bull**** again.

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.

You would have thought...

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...

[galaxy xr8]

Originally Posted by fordomatic

Seems pretty common now, I’ve bought my last 4 cars with cash. They were AUs though so was only $100 each.

I'm a bit late to the party with this reply.... but what you're saying is that you really got ripped off then ?

[Pis-ton broke]

he likes cash, give him 15k in 20's
but seriously, if i sell a car, i ask for cash.

[MercuryT]

I must be naive to what goes on.

I assume a person is trustworthy unless proven otherwise.

You blokes are more he's a scammer unless proven otherwise!!

Never ever has cash ever been mentioned in 20 years. Now this bloke lost his **** when I suggested a bank cheque much safer for everyone involved........(which it is with a receipt and direct number to agent at Bank)

Ah well. Always another car to buy......maybe I need a manual Boxster S after all ; ) If I buy interstate sending a suitcase of cash might be interesting and a tad risky........

[xxx000]

Bank cheques can bounce just like a personal cheque can and you'd never accept a personal cheque would you?
Bank cheques have to be deposited into an account and therefore are 'visible' to the tax man etc.

You can do the not handover vehicle until funds clear routine but really not many of us either want to wait or trust the other party sufficiently and want the immediate passing of the goods.
That said the Federal govt already has or is about to make it illegal to pay cash over i think $10K
They want electronic transfers so tax liability is transparent

[hayseed]

Originally Posted by xxx000

That said the Federal govt already has or is about to make it illegal to pay cash over i think $10K

It's Not illegal, Just has to be reported to the ATO..


https://theconversation.com/limiting...ide%20a%20bank.


https://treasury.gov.au/sites/defaul...ent_limit_.pdf

[xxx000]

deleted

[marty351]

What's wrong with direct transfer?

150000 cash is not a good thing to have on ones person.

[Franco Cozzo]

I tried to buy an XR6T a few years ago from a car yard, I'm like lets meet in a park on their end of a city, no big deal.

I wanted to pay in cash, then he chickened out because he refused to carry cash on him on the train back home.

What a ****ing sook - organise an Uber/taxi if you're not comfortable carrying cash on public transport or organise a friend to give you a lift.

Where is people's sense of adventure these days

[MercuryT]

Originally Posted by marty351

What's wrong with direct transfer?

150000 cash is not a good thing to have on ones person.

Marty I offered secure electronic transfer (i'm with CommBank and it's easy) and collect car after clearance.

He lost it with me again and insisted cash only.

I agree I'm not keen on carrying 15K in a bag......

[black13]

Originally Posted by MercuryT

Marty I offered secure electronic transfer (i'm with CommBank and it's easy) and collect car after clearance.

He lost it with me again and insisted cash only.

I agree I'm not keen on carrying 15K in a bag......

I would have walked away the 1st time the seller lost it. Would smile & say i will look elsewhere.

[lance]

Originally Posted by MercuryT

Marty I offered secure electronic trnansfer (i'm with CommBank and it's easy) and collect car after clearance.

He lost it with me again and insisted cash only.

I agree I'm not keen on carrying 15K in a bag......

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.