Receiving payment

Once you've found a buyer, and it’s time to make the sale, there are certain steps you should take to protect yourself against problems such as time-wasters, theft and fraud.

• Once a price has been agreed, take a deposit, making it clear that it is non-refundable. That way, if the buyer pulls out and you have to re-advertise, you won't be out of pocket.
• Never hand over the car until you have been paid the full agreed price.
• Always wait for a cheque or banker’s draft to clear before handing over the keys – inform the buyer that this will be the case.
• Prepare two copies of a written sales agreement, and make sure you both sign and date each copy. Include the following:
  Make and model
  Registration number and VIN
  Year of registration
  Mileage (if known to be genuine. If you’re not sure and have no way of finding out state 'mileage not verified')
  Agreed sale price and deposit paid
  Buyer's name and address
  Your name and address
  Note that the vehicle is 'sold as seen'