Buying a Used car - Payment - Page 5

xxx000 · 15-08-2020, 07:58 AM

go to the NAB site and it explains the many reasons they may bounce a bank cheque.

galaxy xr8 · 15-08-2020, 10:00 AM

Quote:

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 ?

Tassie f100 · 15-08-2020, 10:26 AM

Quote:

Originally Posted by xxx000

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.

LG17 · 15-08-2020, 12:43 PM

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.

gkhn · 18-08-2020, 12:21 AM

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

MercuryT · 18-08-2020, 10:32 AM

Quote:

Originally Posted by stevefreestyle

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.

**Raptor** · 18-08-2020, 02:22 PM

I think this thread has run its course.

Closed.