Discussion
Hi all,
I've been looking for an xkr froma dealer for the last few months but to no avail so I'll have to buy one privately. I'll get an RAC inspection done but I have a question as it is probably 15 years since I bought a car privately.
What is the best way of transferring this fairly sizeable amount of cash so both parties feel happy and secure? Advice appreciated.
Rgds
Bankers drafts are just like a cheque and so can be cancelled etc. Plus it takes up to a week to clear. No probs for the buyer I guess.
The best bet is a CHAPS transfer, which if it is processed at the bank befere 12pm will clear by the afternoon, usually within an hour or so. But can you guarantee the car will be there still. Depends whether you have a good vibe I guess.
Other way, is if you both bank at the same bank and can do an internet transfer, can take 4 days.
So in answer to your question there is still no best way.................
G
PS Usually takes a long time to find the 'right' XKR, persevere!
The best bet is a CHAPS transfer, which if it is processed at the bank befere 12pm will clear by the afternoon, usually within an hour or so. But can you guarantee the car will be there still. Depends whether you have a good vibe I guess.
Other way, is if you both bank at the same bank and can do an internet transfer, can take 4 days.
So in answer to your question there is still no best way.................
G
PS Usually takes a long time to find the 'right' XKR, persevere!
It may be worth checking if your bank and the bank of the seller are part of the recent deal where money transfers happen in the same day, sometimes nearly instantaneously. I recently confirmed this works when I transferred some money from my RBS account into my girlfriend's Halifax account. The money was in her account in less than an hour (whereas before it took the usual 3-4 working days). Most major banks are now part of this deal, I believe.
vladman said:
It may be worth checking if your bank and the bank of the seller are part of the recent deal where money transfers happen in the same day, sometimes nearly instantaneously. I recently confirmed this works when I transferred some money from my RBS account into my girlfriend's Halifax account. The money was in her account in less than an hour (whereas before it took the usual 3-4 working days). Most major banks are now part of this deal, I believe.
As mentioned CHAPS..............By the way if anyone knows of an xkr coupe for sale within 100 miles of Somerset 2005/upto 25k/any spec/any colour as long as it isn't silver, please let me know.
As I'm here perhaps you can answer another naive question. I had always assumed and perhaps more so in this environment that one could negotiate a discount from a dealer for cash (helps their cash flow), however wouldn't they prefer that you took their finance deal as it would be more profitable for them. Any thoughts?
As I'm here perhaps you can answer another naive question. I had always assumed and perhaps more so in this environment that one could negotiate a discount from a dealer for cash (helps their cash flow), however wouldn't they prefer that you took their finance deal as it would be more profitable for them. Any thoughts?
Buying privately is always a case of buyer beware. Just as you would walk away if the car was not right, do the same if the seller does not feel right.
For the amount you are looking to spend, it is worth a getting an HPI check to confirm there is no outstanding finance on the car and it has not been involved in a serious accident. Also, if over 3 years old, do not take an MOT certificate at face value. Check it online at motinfo.gov.uk (where you can also check mileage, any reasons for failure and advisories). You need reg no and either Reg Doc reference or MOT Test number from the Certificate.
I've heard people finding that the car they've purchased is not always in the same condition when it comes to picking it up. Check tyres, battery, etc. and make sure seller does not change said items once the deal is struck. Once they have your money, it's very difficult to get redress.
For the amount you are looking to spend, it is worth a getting an HPI check to confirm there is no outstanding finance on the car and it has not been involved in a serious accident. Also, if over 3 years old, do not take an MOT certificate at face value. Check it online at motinfo.gov.uk (where you can also check mileage, any reasons for failure and advisories). You need reg no and either Reg Doc reference or MOT Test number from the Certificate.
I've heard people finding that the car they've purchased is not always in the same condition when it comes to picking it up. Check tyres, battery, etc. and make sure seller does not change said items once the deal is struck. Once they have your money, it's very difficult to get redress.
Edited by jagiam on Saturday 5th July 22:29
Edited by jagiam on Saturday 5th July 22:30
Triple7 said:
vladman said:
It may be worth checking if your bank and the bank of the seller are part of the recent deal where money transfers happen in the same day, sometimes nearly instantaneously. I recently confirmed this works when I transferred some money from my RBS account into my girlfriend's Halifax account. The money was in her account in less than an hour (whereas before it took the usual 3-4 working days). Most major banks are now part of this deal, I believe.
As mentioned CHAPS..............peter450 said:
Triple7 said:
vladman said:
It may be worth checking if your bank and the bank of the seller are part of the recent deal where money transfers happen in the same day, sometimes nearly instantaneously. I recently confirmed this works when I transferred some money from my RBS account into my girlfriend's Halifax account. The money was in her account in less than an hour (whereas before it took the usual 3-4 working days). Most major banks are now part of this deal, I believe.
As mentioned CHAPS..............
Best way to transfer money is a "TT" (Telegraphic Transfer) which is free and instant.
Best way to buy privately is to go to the seller's home address, meet his wife and kids,
see his passport...
There are sooooo many scams around stolen cars with a decent sell-on value that you really
do have to be careful.
There are loads of Jag specialist dealers around and I would be inclined to go that way and get a warranty.
Best way to buy privately is to go to the seller's home address, meet his wife and kids,
see his passport...
There are sooooo many scams around stolen cars with a decent sell-on value that you really
do have to be careful.
There are loads of Jag specialist dealers around and I would be inclined to go that way and get a warranty.
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