***** ALERT - Nominations for your new ClubCJ Committee can be made here *****

selling a car and offered a cheque ?

Start a Topic! Have Your Say & Talk About Anything.

Moderators: Moderators, Senior Moderators

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 1:09 am

yea i reckon, but why cheque, cant he just transfer it via internet banking?

User avatar
Dire
Post Monster
Post Monster
Posts: 3042
Joined: Tue Mar 09, 2010 6:38 pm
Location: Canning Vale (Perth)

Postby Dire » Sun Jan 02, 2011 1:14 am

Well if hes coming all the way there, bank cheque lets him hand over the money upon receiving the car I guess.
If he transferred over the internet he'd have to either do it before he left (what if you disappeared or something?) or after he gets back (I'm sure you want to know you're getting the money before he goes).

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 1:22 am

Dire wrote:Well if hes coming all the way there, bank cheque lets him hand over the money upon receiving the car I guess.
If he transferred over the internet he'd have to either do it before he left (what if you disappeared or something?) or after he gets back (I'm sure you want to know you're getting the money before he goes).

yea i want to no if i will get the money or not because he is leaving on the same day as he arrives on sunday morning and leaves sunday night because he is keen to buy the car, it's a really hard decision to do when banks are closed for 2 days, i think i should tell him to stay or to come another time cause he actually came at a wrong time where it is new years and a public holiday. ill discuss it when he comes tomorrow, i should of called the bank earlier and asked if a bank cheque was written my name on it.

User avatar
bongo
Lancer ES/EX
Lancer ES/EX
Posts: 154
Joined: Tue Aug 11, 2009 8:52 pm
Location: illawarra

Postby bongo » Sun Jan 02, 2011 6:58 am

If your car is insured, keep it insured until the cheque clears. That way if something goes wrong at least you can report it stolen and claim it through insurance.

User avatar
Bandit
Lancer Legend
Lancer Legend
Posts: 1170
Joined: Tue Dec 09, 2008 8:56 am
Location: The People's Republic of Campbelltown

Postby Bandit » Sun Jan 02, 2011 7:07 am

If it is a genuine bank cheque it will be made out by the branch where he got it, it will be computer typed (possibly even printed on an old style dot matrix ribbon printer), it will have a water mark, it will be made out in your name and it is as good as cash. The bank will not make the cheque unless the money was in the bloke's account. The paper sixe will be larger than a personal cheque as the bank cheque is often the bottom third of an A4 page, whereas a personal cheque is a smaller piece of paper torn from a book.

A personal cheque will have a personal account name and number on it at the bottom, a bank cheque won't.

The bloke probably cant direct debit the whole amount of the car purchase, I know my bank will only let me transfer up to $2,000 per day in that manner, so cheque is the only option. The timing is bad, but if it is a genuine bank cheque, then you will be okay.

As others have said, don't change insurance or transfer rego until the money is in your account (usually 1 or 2 days after you present it at a bank). However, do make a note of the time/day when the car leaves your posession so if the new owner racks up fines on his trip back home, you don't have to pay those!
ClubCJ's first Sportback

User avatar
Mr Charisma
Lancer Evolution
Lancer Evolution
Posts: 876
Joined: Wed Apr 29, 2009 9:09 pm
Location: Central Coast, Straya.

Postby Mr Charisma » Sun Jan 02, 2011 7:49 am

Nothing wrong with a Bank cheque besides the fee's they change to get one lol.

I prefer to use them as carrying a large amount of cash is dangerous and I can't transfer massive sums of money over the interweb.

As people have said, it is paper money that only you can access ( as it is made out to you ). You won't have the issue of it clearing or not as the money is there already :D
Love that car!

User avatar
Bandit
Lancer Legend
Lancer Legend
Posts: 1170
Joined: Tue Dec 09, 2008 8:56 am
Location: The People's Republic of Campbelltown

Postby Bandit » Sun Jan 02, 2011 9:24 am

Even though the bank cheque is as good as cash in terms of clearance, they still take a couple of days to process. Even the cheque for my tax refund, made out by the reserve bank of australia took 2 days to show up in my account!
ClubCJ's first Sportback

User avatar
Bandit
Lancer Legend
Lancer Legend
Posts: 1170
Joined: Tue Dec 09, 2008 8:56 am
Location: The People's Republic of Campbelltown

Postby Bandit » Sun Jan 02, 2011 9:28 am

evo9990 wrote: i think i should tell him to stay or to come another time cause he actually came at a wrong time where it is new years and a public holiday. ill discuss it when he comes tomorrow, i.


I dont think you can do that as he is likely to have booked a spot for himself and the car on the Spirit of Tasmania, which costs a bomb and is not refundable wthin a week of travel (from my understanding of their terms as I have been on it a couple of times).
ClubCJ's first Sportback

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 9:43 am

iam meeting him today guys hopefully he is not a dodgy guy,
but most of my family tells me not to accept this cheque and that theres a dodgy thing about it coming on a public holiday so the banks is closed then that means i have to wait 2 days in horror wondering if the cheque is false or not but the only thing i want to know is how does a bank cheque looks like, eg. is the paper hard or soft what hints can give me to know if there is a sign on the cheque that makes it true?
thanks guys for your help :)

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 9:44 am

bongo wrote:If your car is insured, keep it insured until the cheque clears. That way if something goes wrong at least you can report it stolen and claim it through insurance.

my car isnt insured thats a problem too!

tjoz
Lancer Ralliart
Lancer Ralliart
Posts: 699
Joined: Sun Oct 04, 2009 3:51 pm
Location: Melbourne, Australia

Postby tjoz » Sun Jan 02, 2011 9:47 am

Does the check say 'Not Negotiable' on it? All bank checks will have this on them. Bank checks are instant money, you dont need to wait for them but depends on your bank you may have to wait 24hrs before you can access that money.

What one looks like? Depends on each bank but most of them are the size of a deposit slip. They will be computer print out, watermarked, barcode so they can be scanned. They will also have 'not negotiable' on it in a few areas. Some will have it printed across the middle of the check, others will have it above the bar code and on the edges and in the amount description.
Last edited by tjoz on Sun Jan 02, 2011 9:50 am, edited 1 time in total.

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 9:49 am

i still did dont have the cheque the buyer is coming soon from brisban in 3 hours and i'll see the cheque when i see him, so i have to look at a word called nor negotiable?

User avatar
evo9990
Lancer ES/EX
Lancer ES/EX
Posts: 151
Joined: Sat Sep 18, 2010 2:16 pm
Location: australia

Postby evo9990 » Sun Jan 02, 2011 9:53 am

guys i am heading off now wish me best of luck and that he doesnt be a scammer or anything and ill try to see if the cheque is good enough thank all of you for your help everyone i appreciate that and thanks in aadvance :D :D

User avatar
vi93r
Lancer VRX/GTS
Lancer VRX/GTS
Posts: 346
Joined: Sun Jul 12, 2009 9:14 pm
Location: Newcastle, Australia

Postby vi93r » Sun Jan 02, 2011 9:56 am

Bank cheques are usually taller and not as long as personal cheque.
The are 100% computer typed.
Marked by the issuing bank with bank name/logo.
They are watermarked in most cases, hold it upto the light like you would a note, watermark will usually be bank logo.
Must be made out to you or bearer.

Think of it this way aswell, public holdiay might be the only 3 days he had off work.

User avatar
billy boy
Lancer Evolution
Lancer Evolution
Posts: 782
Joined: Sun Nov 22, 2009 5:10 pm
Location: Adelaide

Postby billy boy » Sun Jan 02, 2011 10:13 am

bank cheques take 5 business days to clear btw, just be mindful of that.

i've sold my chaser and the guy had a bank cheque and i waited till it cleared before i gave him the keys. i know that you can't get a bank cheque without the coin, but i just erred on the safe side.
we are fascinated by that which can destroy us...


Return to “General Talk”

Who is online

Users browsing this forum: No registered users and 24 guests