Viewing and paying for cars at the other end of the country?
Discussion
I'm just about buy another car and, living in West Cornwall, it's pretty much a certainty that I'll have to travel to view and buy something. In the past I've bought from dealers so it hasn't been a problem. However, I've seen a few cars for sale privately that I like so what's the best way of sorting out the deal to avoid having to go and see them (possibly hundreds of miles away), leave a cheque and then travel all the way back again to collect the car? There must be an easier way! Is there a safe and immediate way of money transfer so that if I like it I can take it home, possibly having had the car checked out in advance?
Any thoughts?
Any thoughts?
You can ask a mechanic (AA offer the service I think) to pop round and give the car a once over then have the results emailed to you, friend of mine did this for a car in Wales, they were very thorough and even commented on a very small hole in one of the rear seats, upon inspection it was barely visible so they appear to be pretty thorough. As for money, Leave the cash in your locked car and don't let on that you're carrying it you're certain you want to hand any over to the seller.
The RAC or AA charge about £200 for an inspection and are very thorough. From what I can understand if there's a fault sooner after purchase you have some re-course with them. If the car your buying is only a few thousand then take cash if it's more arrange a bankers draft or find out how close your bank is to the dealer and get one once you've agreed the sale that way you're not carting wedges of cash about.
MK4 Slowride said:
The RAC or AA charge about £200 for an inspection and are very thorough. From what I can understand if there's a fault sooner after purchase you have some re-course with them. If the car your buying is only a few thousand then take cash if it's more arrange a bankers draft or find out how close your bank is to the dealer and get one once you've agreed the sale that way you're not carting wedges of cash about.
The only problem is with a bankers draft you'd have to negotiate the price before going to see the car, if I remember correctly the only time I've used one the figure was put on it in the issuing bank.Thanks for the advice. I realised when I was posting that someone would probably say 'cash' but as I might be paying up to 11k I'd be just a bit reluctant to carry that sort of money with me on the train (to put it mildly!) and, as was said, a bankers draft means agreeing the sale before viewing. Is it possible to go to a bank and make an immediate transfer from one account to another?
Right its simple, go and see the car, if its what you want, go to the local branch for you bank and ask for a bankers cheque to the agreed amount. They will write it on the spot and they gurantee the cheque so you wont have any issues with it bouncing. Its the same as giving a suitcase of notes.
A large money transfer is charged i think and still wont clear imediately.
Best bet is a bankers cheque.
A large money transfer is charged i think and still wont clear imediately.
Best bet is a bankers cheque.
Edited by GTR Cook on Tuesday 19th July 15:20
I think they charge for a bankers cheque though.
If the seller happens to use the same bank you do, an internet banking transfer will be instant.
If they use a different bank, it can take a couple of hours, some banks offer a fast service for inter-bank transfers but again, there is a charge.
If the seller happens to use the same bank you do, an internet banking transfer will be instant.
If they use a different bank, it can take a couple of hours, some banks offer a fast service for inter-bank transfers but again, there is a charge.
Liquid Tuna said:
Also there's usually a £10k daily limit on bank transfers.
The way that I did it when I sold our last valuable car, was to go to the chaps bank with him.Together we arranged the CHAPS transfer, (which is same day if sent before 2PM). Once the banker confirmed that it had been sent and could not be recalled passed over the keys and away he went.
I had this problem with a recent purchase, the spec I wanted came up in Wales so I had a couple of long calls with the current owner to ascertain the condition and we agreed a price based on that on the understanding that if the car wasn't as described I'd turn around and go home again.
Biggest problem was sorting out the money. Obviously wasn't going to carry that amount of cash and he didn't trust bankers drafts. Eventually agreed on an electronic transfer which almost came a cropper due to the £10k a day limit per account (ended up opening a second account to get around this).
Transfer wasn't instantaneous so we ended up going to lunch together and having a good natter whilst the money moved across.
Biggest problem was sorting out the money. Obviously wasn't going to carry that amount of cash and he didn't trust bankers drafts. Eventually agreed on an electronic transfer which almost came a cropper due to the £10k a day limit per account (ended up opening a second account to get around this).
Transfer wasn't instantaneous so we ended up going to lunch together and having a good natter whilst the money moved across.
GTR Cook said:
They will write it on the spot and they gurantee the cheque so you wont have any issues with it bouncing. Its the same as giving a suitcase of notes.
My bank couldn't offer a bankers draft on the weekend which ruled out that option. Apparently it is also possible to withdraw bankers drafts so not quite the same as cash.
)chris_w said:
My bank couldn't offer a bankers draft on the weekend which ruled out that option. Apparently it is also possible to withdraw bankers drafts so not quite the same as cash.
They remove the money from your account and deposit in the banks account. The cheque is then from the bank to the customer not your self. So the stoppage would be the bank doing it not the person buying.When i asked about it the bank told me it was guaranteed.
Best advice would be to speak to your own bank and see what they say. Different banks may opperate slightly different.
i took 5igures in cash when i went to get my car from derby, i live n cornwall too.
i also took a golf club and a large frined. plus i managed to haggle the car down an absolute shed load with this method...cash not the club. id sent an email informing them i could give a completely hassle free sale. id turn up, take the car drive home but as i couldnt really view the car first id have to give a completely "punt" price. it worked.
absolutly awful advice ill fully admit that but at the end of the day your the only one who knows that you have the cash on you while on route. the danger is mostly in your mind.
i also took a golf club and a large frined. plus i managed to haggle the car down an absolute shed load with this method...cash not the club. id sent an email informing them i could give a completely hassle free sale. id turn up, take the car drive home but as i couldnt really view the car first id have to give a completely "punt" price. it worked.
absolutly awful advice ill fully admit that but at the end of the day your the only one who knows that you have the cash on you while on route. the danger is mostly in your mind.
Cupramax said:
MK4 Slowride said:
The RAC or AA charge about £200 for an inspection and are very thorough. From what I can understand if there's a fault sooner after purchase you have some re-course with them. If the car your buying is only a few thousand then take cash if it's more arrange a bankers draft or find out how close your bank is to the dealer and get one once you've agreed the sale that way you're not carting wedges of cash about.
The only problem is with a bankers draft you'd have to negotiate the price before going to see the car, if I remember correctly the only time I've used one the figure was put on it in the issuing bank.Gassing Station | General Gassing | Top of Page | What's New | My Stuff