Money what would you do

Molly 3

Molly 3

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What would you do if you sold your motorhome privately say 25 K and the buyer wanted to pay cash ?
 
Take his arm off...

I paid cash for mine ... £35k.

That said, would you recognise a dud £50 note or even worse, lots of them ?

K ;)
 
Firstly yippee! It sold.

Then I’d insist the buyer went with you to your bank and paid in the cash over the counter. Who carries £25k around in cash?
 
Did this with a classic car a couple of years ago, took buyer to bank them caring the cash and handing it to me once in front of bank tiller.
 
Like the others have said (y)
 
Too many dodgy £50 notes to take the risk, not being funny but who carries that sort of dosh apart from .............. get to the bank ??
 
Put a couple of hundred in my pocket and the rest paid to the cashier at the bank ,with the buyer and seller present
 
It is an offence to handle cash over 5 grand,money laundering law,car dealers and public have a duty to inform police,now if you were to hand me some,need i say more.
 
I remember doing it the other way round before this 'Faster Payment' system.
When in Devon I sold my car to a guy from East London. He came down by train and we went to a local branch of his Bank (Barclays I think?) and he took OUT the money while we were in the branch and handed it over to me.
Same difference really and same checks for real currency but I got paid cash :D
 
trevskoda said:
It is an offence to handle cash over 5 grand,money laundering law,car dealers and public have a duty to inform police,now if you were to hand me some,need i say more.
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maybe in NI it is, but not in GB! As you say, Car Dealers are obliged to do checks but it doesn't make it illegal!
 
If you have over a certain amount of cash it is illegal as the bank usually informs the police (or used to) money laundering drug money that sort of thing!..but I’d take that chance..lol
 
When we bought our first Motorhome for £15k he wanted cash. No odds to me so we did all the checks on the van and paid up. No problems. About 15 years ago my daughter wanted to buy a car a 100 miles away. My husband being a mechanic went to look at it but as I didn’t want to have to do another journey to buy it I took cash with me and paid there and then for it
 
It is not that unusual to buy a new motorhome from a dealer with cash .I sold a motorhome for cash took the money to my bank with the buyer ,only question asked was ware is the mony from , replied sail of motorhome , OK that's fine ,not a problem .
 
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Jeanette said:
If you have over a certain amount of cash it is illegal as the bank usually informs the police (or used to) money laundering drug money that sort of thing!..but I’d take that chance..lol
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Can you produce anything to support your statement that "it is illegal"?
Businesses making or accepting high-value cash payments have to register and conduct due diligence (https://www.gov.uk/guidance/money-laundering-regulations-high-value-dealer-registration) but I can find nothing to indicate that high-value cash payments are illegal. In the case of private individuals, your bank would have a duty to conduct due diligence, but if you can prove that the payment is in respect of a genuine, legal transaction (in the case of taking the buyer to a bank to pay in the cash, perhaps V5C and an invoice from you to the buyer?) this should not be a problem. https://www.independent.co.uk/money...-paying-15000-into-our-accounts-a6952881.html
 
When I bought my van the dealer would only accept 9k in cash I had more but had to put in a bank account and pay by card. Think that’s the limit they can except without going through a paper chase involving inland revenue police and some other government agencies but don’t think it’s illegal for them to accept more it just gives them more work.
 
For a private buyer I think I'd prefer cash paid into my account at a bank.
That way can't be reversed.
 
Terrible isn’t it, the government make you feel like a criminal just because you want to pay cash.
Even moving large amounts of cash between your own accounts flags up the suspicion that you might be doing something illegal.
 
snapster said:
Terrible isn’t it, the government make you feel like a criminal just because you want to pay cash.
Even moving large amounts of cash between your own accounts flags up the suspicion that you might be doing something illegal.
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I understand what you are saying but I don't agree with the "make you feel like a criminal" bit. If I want to move money between accounts or banks, or spend in cash then I will do so and I don't feel like a criminal in the slightest for doing so no matter what checks are put in place for someone else to prove its legitimacy.

Interestingly, in the natural habitat of the banking world (i.e. Switzerland) the preference there is to use cash rather than electronic methods even for major purchases - and your £30,000 Motorhome Sale in Swizerland could be transacted by handing over just 36 bank notes.
 
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