You can take payment a number of ways:
You could take a bank cheque; however these are not entirely secure and can be cancelled. Personal cheques can be cancelled too, but in addition there is no way to know if it will be honoured when deposited in your account.
If your car has a security interest registered against it, such as a hire purchase, loan or lease agreement (check at PPSR search), you should have a strategy in place for removing it at the time of the sale. This may involve getting the payout figure at the date of sale and having the sale proceeds directed to the financial institution involved as part of the transaction.
Once payment has been received, you can deliver the car. At this time also ensure you give the buyer all relevant paperwork and accessories including:
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.