Safest Way to Buy Private Plate From A Private Seller

[Freakzilla]

Hi Guys,

I've found a private plate I want to buy. The plate is on rentention with a private seller. I haven't bought the car yet that I want the plate to go on. I offered to pay the seller via paypal so I had comeback if there was an issue, but they want bank transfer.

My understanding is that as the plate is already on retention, I can only be added as a nominee as I'm not ready to place the plate on a car yet. The V750 cannot just be transferred to my name.

How would you advise paying for the number plate?

Thanks

Freakzilla

[randlemarcus]

Your best bet is to put it on a car. Like you say, you can't rely on being a nominee as that leaves the cards with the grantee.

As for paying, you're kind of stuck with bank transfer. PayPal just adds complexity for little comeback on your side. If he's dodgy, he just waits for say, three months, and then stitches you up.

[Carlton Banks]

You’re sort of stuck in a similar way you are when buying a car!
The seller at some point will have both the funds and the number plate rights.
Where have you seen it for sale?
What is the reason the chap won’t accept PayPal?
I’m not saying it’s dodgy but a lot of scammers want a bank transfer to ensure no comeback.

I have bought a plate privately and this is what I did.

I got the seller to send me a photo of the retention certificate as well as a copy of his driving license so that he wouldn’t just disappear into the ether.
I then transferred the funds and put the plate on the vehicle.
That was for a £150 plate. Yes it was cheap.
Yes it’s a risk but depends on value etc

[Freakzilla]

Thanks,

I saw it on Plate Trader, and we've been negotiation a price for the past month. It's for £1000 so a decent amount of money.

[Freakzilla]

They won't accept paypal due to the fees, and the fact I can make a chargeback.

[GMac1]

Freakzilla said:

Thanks,

I saw it on Plate Trader, and we've been negotiation a price for the past month. It's for £1000 so a decent amount of money.

Plate trader are very helpful with both buyer & seller. Have a good read through the Q@A and the how to guide on their site, I'm sure they wouldn't want any negative feedback about using their site but you never know.There will always be risks when dealing direct & not having a 3rd party involved. Some people try to meet in person for higher value plates but that would be difficult with the current lockdown.