We decided to sell our car to a local garage and the owner says he will pay cash instead of bank transfer. Is there any risk in receiving cash and depositing in the account rather than bank transfer?
Thanks for any hints.
Hi,
No, risk. Cash is considered to be safer as the transfer can't be reversed.
Only if it's counterfeit.
Tom
Totally fine when i've done it.. Make sure the grey card is dealt with properly, insurance cancelled etc. You can do it yourself .. or you can trust the garage.
Cash wise, totally normal..
Last time the garage offered me 10k cash for old car, with was a very good deal. Big reputable main BMW/Mini dealer..
When i drove the car in it was actually a middle eastern guy, an exporter who was waiting to hand me the bunch 1000chf notes.. But the receipt etc was from the dealer.
I dunno how it all works but i was happy.
We are planning to put it in the bank immediately. If any issue, can we not get them to task - given that the garage is still there.
Unlikely, but not unheard of:
https://www.fedpol.admin.ch/fedpol/e...alschgeld.html
There are even people forging fake coins!
However, for such a transaction, I guess you would discover almost immediately when trying to deposit the amount in your account. Better have all the papers lined up to prove that the money are coming from the car sale ...
You don't have to prove anything for such small amounts.
Tom
It's Vaud, the local garage might be Rebellion Motors
what? why? where's the problem?
Coins are much less risky I would think as you can use them for automats (and get reimbursed for the train ticket). Just make sure your face isn't recognisable in surveillance camera footage.
For what reason do you think the Swiss have Chf 1k notes, and newly issued at that !!
Snorting Cocaine maybe ?
Sold one of my cars for to a dealer for 42,000.- same day I put it up for sale ...all 1,000 notes, crisp and clean. You can trust these deals 100% and another great aspect of living here.
Same here, been on both sides of the coin so to speak.
Both received and paid for in a bunch of 1k notes. Bank transfers can take a day or two. You may need to request the 1k bills from a teller, but the ATMs do accept 1k bills at least at UBS.
Dealing with a garage should go fine, after that if dealing with an individual, do your due care and inspect every bill I guess.
*edit - Most recent purchase was a Mazda MX5 for my wife. The Mazda garage asked if I could pay in cash, perhaps because the vehicle was a showroom model that had been on a few test drives and was already selling for >5k below that of a brand new example...
Yes, but every time do a simple A4 2 page signed contract with both names and addresses (backed up with ID), mark ‘kein Unfall Auto’ (no-accident car), VIN #, amount paid and method (cash). This would be also be a guarantee should the money be fraudulent (but one has to be pretty naive to not spot fake notes).
I always insist on cancelling and sending cancelled grey car reg doc for next day anyway.
Yes, always cancel the gray card and insurance prior to handing over the keys. Make sure all papers stamped accordingly. You could end up liable for any criminal activities performed if the other party drives off with your car still holding "your" valid gray card and license plates (which need to be turned in to cancel the insurance).
It's worked out for me so far. Most recent sales:
- Merc AMG sold to a garage, the moment I handed over the keys, took my license plate and handed over a photocopy of the gray card, called to cancel insurance and license plates, got the gray card invalidated an hour later at the SAN in Lausanne while dropping off the plates (sold the car to a Ferrari garage in canton of Fribourg).
- Lotus Elise sold to an individual, dropped off license plates and got the gray card invalidated a day prior to pickup, new owner came the next day having prepared a new gray card and license plates (they had a photocopy of the cars papers prior to this) and drove off (I think it was someone that works also at a garage).
I find the SAN (Service Automobile et Navigation, i.e. car service bureau) are pretty good with these things, and always call the insurance company, they do things on the spot. It's very simple to handover things if you just have an hour to spare