Thank you very much.
I will sell my car directly to a private person. He already paid a deposit of about 40% of the price (the money was already in my bank account). We have agreed that he would transfer the rest to my bank account, then I would cancel the grey card and give everything to him. Now he wants me to cancel the grey card first, then give him the car and the documents and he will give me the rest of the payment in cash (notes). Is it safe? Can anything go wrong besides counterfeit notes? If there is any potential problem, how can I mitigate it?
He should give the cash at handover, when you give himm the grey card and they keys.
I wouldn't accept later payment.
May intend to not make final payment. Not the first time.
If money is paid on the spot when you give the cancelled gray card there is absolutely no problem.
Counterfeit notes I guess you watch a lot of american movies
Until you been paid, don't cancel the grey card, if the guy wants to pay in cash and you're not sure, do it in a bank and get them to put the notes directly into your account.
At the end of the day you are holding 4 aces as he already paid 40% so if he's not happy, not much he can do.
Unless you have 2 cars on the same plate, no need to cancel just keep the plates which you will use for your new car, or return them if you don't want a new car.
I have sold several vehicles 3 on the forum & I never cancelled the grey card.
This week I asked my banker his advice on the best way to receive payment for a car sale. One word: cash. Always get it on the spot, never take the rest later, he added. He said that's what everyone does here, unless it's a collectible you're selling for six figures.
And the guy at the garage said the gray card was useless to the new owner, so just give it to him with the car when you've got the full payment. It's the license plates you need to keep, as they run with the person, not the car.
Other EF threads give tips on the administrative details.
Final thought: when I've sold cars in the past, I wrote up a one-page bill of sale, an extremely simple document with date, car, price, your names and signatures. Just in case.
Now if someone will just buy my car!
When I bought a car last year I
Paid 1000 CHF deposit, in cash
Signed a contract of sale, with delivery to be in 4 weeks (there were reasons)
The day before delivery I transfered 50% of the remainder to his bank account
And on the day of delivery I paid 50% in cash
The contract of sales was signed again at handover (he delivered), and we recorded date and time and kms to protect both of us - in case he got a speeding ticket on the drive to my house, or I got one that afternoon.
The contract also had a damages clause: if the seller could not sell to me for any reason, he would return any money paid to date, plus damages on top. Likewise, if I refused to buy, I would forfeit my deposit.
BUT
I researched the seller, he was a managing director of an engineering firm with his own house, wife and 2 small kids. Very normal, upright, Swiss citizen. We had a cup of coffee around his dinner table as we discussed the deal. That cemented the trust on both sides.
HOWEVER If you have any doubt of your buyer, demand cash on the spot.
If you don't drive the car anymore DO cancel the grey card as you're paying insurance for nothing. (Remember to park it on a private lot though as cars without number plates are not allowed to be parked on public ground).
DO NOT hand over the grey card to anybody before you got all the money agreed to in hand.
Sounds like a very civilized process, thanks!
I guess I was not very clear. He will give me the rest of the payment in cash on the spot, before I give him the cancelled grey card and of course the car. So I think in this case there is no big risk. I also researched him; he seems legitimate and credible. Thanks for all the answers.
I once sold a car to a garage. I didnt cancel my grey card because I had never done so before, leaving it to the garage. Even though I had a bill of sale, I still ended up paying car tax for an extra month, as the garage guy didnt register his ownership until a month later.
Perhaps your buyer has been bitten like me.
The garage doesn't need to register the car, you can keep a car unregistered as long as you want.
What the garage did not do, was cancel the grey card, which is why it is best to do it yourself, that way you are sure it's done. The exception to this would be if you were part exchanging a car against another one via a garage as they would need to cancel the old grey card in order to have the plates put on the new one.
Yes, you have explained my point perfectly. I didnt know this at the time, but from now on will always cancel the card at the time of sale.