Guide7 min read3 views
Updated 11 November 2026 · Written by the Wahanaya.lk team
The safest payment is a bank transfer or bank draft you verify yourself by checking your own banking app or calling your bank — never a screenshot the buyer sends you. Don't hand over the CR book, keys or signed MTA 6 form until the money has actually settled in your account.
The safest way is a bank transfer or bank draft that you confirm yourself through your own banking app, internet banking or a call to your bank — never a screenshot the buyer hands you. Don't release the CR book, keys or the signed MTA 6 transfer form until the money has actually settled in your account, not just appeared as a notification someone sent you.
Car sale payments are a common target for fraud in Sri Lanka because the amounts are large and sellers are often in a hurry to close the deal. A few simple habits around how you accept payment protect you far more than any clause in a sale agreement.
Be cautious with a personal cheque for a large amount from a buyer you don't know well. A cheque can still be returned for insufficient funds, a signature mismatch, a closed account or a stopped payment during the bank's verification step, even though CITS now clears most cheques within one business day. If a buyer insists on paying by cheque, deposit it and wait for it to actually clear into your available balance before handing over the vehicle — don't release it on the day you deposit the cheque just because the bank app shows it as "pending."
A bank draft is a cheque issued and guaranteed by the buyer's own bank, because the bank has already deducted the funds from the buyer's account before printing it. This removes the main risk of an ordinary cheque — that there isn't enough money in the buyer's account when it's presented. For a sale as large as a car, it's reasonable to ask the buyer to get a bank draft or pay order in your name instead of writing a personal cheque. The buyer usually pays a small fee to their bank to raise one.
Sri Lanka's CEFTS system lets a buyer send money instantly, 24/7, directly into your account from most banks, and it's the easiest payment method to verify on the spot. As of November 2026, CEFTS and SLIPS transfers are capped at Rs 5 million per transaction, so for a car priced above that, the buyer may need to split the payment or use RTGS, which doesn't have a fixed limit. The advantage of a transfer over a cheque is speed: you can log into your own banking app and see the credit land, rather than waiting on a cheque to clear. Still, confirm it's genuinely reflected in your available balance, not just a pending or provisional entry, before you hand anything over.
You can't reliably tell from the image alone — that's the point of the scam. In October 2026, Sri Lanka Police issued a public warning that criminals are using AI tools to create convincing fake bank transfer and payment-app receipts aimed at sellers. The only safe check is to open your own banking app or internet banking, or call your bank directly, and confirm the deposit yourself. Treat any screenshot, forwarded SMS, or PDF "receipt" the buyer sends you as unverified until you see the funds in your own account through your own channel.
In this scam, a buyer "accidentally" sends more than the agreed price and asks you to refund the difference immediately, often to a different account. If the original payment was fraudulent, forged, or a cheque that later bounces, you end up sending real money back for a payment that never actually existed. Never refund anything until the original payment has fully cleared in your account — not just appeared as pending — and if in doubt, call your bank to confirm the funds are genuine before sending anything back. If a deal suddenly involves refunds, extra middlemen, or urgency to "release the car quickly," treat it as a red flag.
Cash avoids bounced cheques and fake transfer screenshots, but carrying or receiving a large amount of cash brings its own safety risk, including robbery during or after the handover. If you do accept cash, do it inside a bank branch where you can deposit it immediately, ideally with the buyer present, rather than meeting in a car park or at home with a large sum changing hands. For most sales, a verified bank transfer or a bank draft is a safer middle ground than physical cash.
For a high-value sale, meeting at a bank branch is one of the safest ways to complete payment. You can deposit a cheque or draft and get it checked on the spot, or sit together while a transfer is made so you can confirm it in your own account before leaving. This also makes it easy to sign the sale agreement and the MTA 6 transfer form at the same sitting, with both of you present and identifiable.
Only hand over the vehicle, keys, CR book and signed MTA 6 form once the payment is confirmed as cleared funds in your own account — not when a cheque is merely deposited or a transfer notification appears. Rushing this step is exactly what payment scams rely on. Once you're sure the money has settled, sign the MTA 6 form with the buyer, give them certified copies of your NIC as required, and remember that you must send MTA 8 Copy "C" to the RMV by registered post within 14 days to confirm the vehicle has been sold.
Before you agree on a payment method, make sure you're pricing the car correctly and marketing it to real buyers. You can list your vehicle on /post-ad, compare similar listings on /vehicles, and check what similar cars are selling for using /price-check. If a buyer wants to finance the purchase, they can estimate their monthly cost with the /leasing calculator. For more on handling test drives, viewings and deal-closing safely, see /safety-tips. If you're unsure about a specific payment situation or a buyer's request, ask other sellers in the Wahanaya forum before you commit to anything.
When a buyer pays through a lease or bank loan, their finance company sends an approved valuer to inspect your car and registers itself as absolute owner on the CR book before you get paid, so expect extra paperwork and a short delay versus a cash sale.
Wahanaya.lk team8 min read
Yes — the DMT's ownership-transfer system checks that your vehicle's VET (emission test) certificate and revenue licence are both in date before it lets the transfer go through, so renew an expired VET before you sell, unless your vehicle is exempt.
Wahanaya.lk team7 min read
If a finance company is still listed as the 'absolute owner' on your CR book, you must get them to confirm in writing that your lease or loan is fully settled, then take that letter plus your CR, VIC and NIC copy to a DMT office to have it cancelled before you can sell the car.
Wahanaya.lk team6 min read
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