Receiving Payment

Once you are happy that you have found a buyer and you wish to make that sale, you can follow certain steps which ought to protect you against problems like fraud, theft and people wasting your and their time.

Upon agreeing a price, request and accept a deposit; clarify it is non-refundable. This way, should the buyer change his/her mind and you are left in a position to re-advertise. Thus you will not have been short changed.

Do not ever hand over the car unless the buyer has given you full agreed price.

Ensure you wait for the banker’s draft or cheque to clear prior to handing over the car keys and inform the buyer like wise.

Get two copies of the written sales agreement ready and ensure that you both sign and date each copy.

Make sure you include:

  • The make and the model
  • The registration number and VIN
  • The year of registration
  • Known mileage. If you are not sure of the mileage, put 'mileage not verified'
  • Deposit paid and agreed sale price
  • The buyer's name and address
  • Your own name and address
  • Make a note that the vehicle is being ‘sold as seen'