Buying / payment problem classic car
Buying / payment problem classic car
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Discussion

crankedup5

Original Poster:

10,917 posts

56 months

Saturday 18th December 2021
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Embarking on purchase of another little classic car that I fancy. The vendor is in Northern Ireland and I’m in Suffolk. Inspections I can easily arrange and no problem, transport is easily arranged no problem.
The problem of payment is the issue, Is there a middle man type of business where I can put the cash for payment in at the same time satisfying the vendor that I have paid the money in?

Tyre Smoke

23,018 posts

282 months

Saturday 18th December 2021
quotequote all
Why can't you do a bank transfer directly to the vendor?

Trevor555

5,017 posts

105 months

Saturday 18th December 2021
quotequote all
Get it inspected.

Transfer the money when your transport person is physically there to collect the car.

There's no way the seller would entertain any third party holding money, that screams scam to most people.

crankedup5

Original Poster:

10,917 posts

56 months

Saturday 18th December 2021
quotequote all
Trevor555 said:
Get it inspected.

Transfer the money when your transport person is physically there to collect the car.

There's no way the seller would entertain any third party holding money, that screams scam to most people.
Yup I will have a natter with vendor and I’m sure that would be agreeable. Thanks.

geeman237

1,332 posts

206 months

Saturday 18th December 2021
quotequote all
In the US they use escrow accounts/services which uses a third party. I don’t know how common that is in the U.K. Can solicitors be used, for a few I’m sure? Depends how much money you’re talking about too as to how much you can do an instant transfer with online?
There’s always an element of risk with a remote car purchase. I’ve done several here in the US and it’s always gone well. You have to go with you gut a bit as well as taking as many precautions as possible.