Originally Posted by Remster
Just sold my car privately and want to prepare a receipt ready for handover later this week. Has anyone got any links to websites with good templates?
I know what should be included on the receipt, "Sold as seen" etc. etc.,
Also, with regard to a bankers draft, am I right in believing you can call the issuing bank to check the draft no. for validity?
Cheers.
The sold as seen part is legally meaningless, best bet is to simply state that the car is being sold for £x amount and include the date and name/address of both parties. Then both parties sign it.
Can you still get bankers drafts? Most that i've seen have actually been a computer printed bank or building society cheque. This aren't issued if the funds aren't there, so theoretically can't bounce. However they can be cancelled, there's nothing to stop the person giving you the cheque from phoning their bank as soon as they driven your car away, and saying it's been lost/stolen. In this case the bank will stop it for them.
Give your bank a call or ask in your local branch and they'll confirm this. IMO the safest option is either cash, a CHAPS transfer (costs about £25), or doing the whole transaction at a bank where the cashier can verify everything.