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Old 15-08-2020, 06:58 AM   #121
xxx000
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Default Re: Buying a Used car - Payment

go to the NAB site and it explains the many reasons they may bounce a bank cheque.
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Old 15-08-2020, 09:00 AM   #122
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Default Re: Buying a Used car - Payment

Quote:
Originally Posted by fordomatic View Post

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 ?
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Old 15-08-2020, 09:26 AM   #123
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Default Re: Buying a Used car - Payment

Quote:
Originally Posted by xxx000 View Post
go to the NAB site and it explains the many reasons they may bounce a bank cheque.
Thee weren’t many reasons other than the bank cheque being stolen or lost.If a bank cheque is lost and then the finder tries to cash it,then it technically is the same as a stolen cheque.
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Old 15-08-2020, 11:43 AM   #124
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Default Re: Buying a Used car - Payment

I've done cash, direct deposits, bank cheques in buying and selling many cars from $500 to $20000.
Fortunately I've never had a problem with any of them.
If I wasn't sure of someone, or I had a funny feeling, I would get my sons to park in their cars near where the transaction was taking place, just in case.
Never had to use them.
These days the government has made it more difficult to use cash particularly for amounts of $10000 and over.
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Old 17-08-2020, 11:21 PM   #125
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Default Re: Buying a Used car - Payment

Or..
There is this thing called cryptographic money like Bitcoin..
You only carry your BTC address with you.
Once buyer transfers the BTCs to you & the transaction has been confirmed by the bitcoin network at least 3 times, there is no way to reverse the transaction.
There is no way to forge it either...
It takes a few minutes to clear the transaction unlike ETF..
It works on public holidays or weekends
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Old 18-08-2020, 09:32 AM   #126
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Default Re: Buying a Used car - Payment

Quote:
Originally Posted by stevefreestyle View Post
As a Finance Broker I can suggest Personal & Business Cheques can Bounce - however Not the case with Bank Cheques.

Anyone who will not accept a Bank Cheque is either not the REAL owner (!!!!) OR is hiding the transaction from their Bank Account (thus you have no traceable financial paper trail of your purchase) - either way = BEWARE .....SHONKY !

If there was only cash involved, I would want to see and carefully examine
Photo ID - And take a Record of Drivers Lisense # etc in ADDITION to a signed Rego Transfer (which is NOT proof of ownership) and a signed and completed Certificate of Title Transfer.
Very informative reply and exactly how I would have thought.

I don't have the business background you have so it's interesting your views on the matter.
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Old 18-08-2020, 01:22 PM   #127
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Default Re: Buying a Used car - Payment

I think this thread has run its course.

Closed.
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