Buying a car privately
Discussion
Hi Guys,
I know this question has been asked many times and I have bought cars privately many times aswell.... However i am due to pick up a new car on Friday evening and am having to travel by train by myself so don't want to be sitting on a pile of money.
I was wondering if i could bank transfer using online banking on my phone? what's the best method for paying him? I would go to a bank but one won't be open.
I know this question has been asked many times and I have bought cars privately many times aswell.... However i am due to pick up a new car on Friday evening and am having to travel by train by myself so don't want to be sitting on a pile of money.
I was wondering if i could bank transfer using online banking on my phone? what's the best method for paying him? I would go to a bank but one won't be open.
We went into a bank yesterday morning to withdraw a substantial amount of cash (several thousand pounds) to pay for a car and they wouldn't let us - we had the ID, the money was in the account but they asked what we wanted it for, then suggested we use 'chip and pin' rather than walk around with a lot of cash and in the end refused point blank to let us have it. So stuff 'em, we transferred it to another bank and will take it out from there and the account will be closed.
Riley Blue said:
We went into a bank yesterday morning to withdraw a substantial amount of cash (several thousand pounds) to pay for a car and they wouldn't let us - we had the ID, the money was in the account but they asked what we wanted it for, then suggested we use 'chip and pin' rather than walk around with a lot of cash and in the end refused point blank to let us have it. So stuff 'em, we transferred it to another bank and will take it out from there and the account will be closed.
Typically, you need to arrange 24h in advance to take out a "substantial" amount. This applies to ALL banks; if you're lucky and they have spare cash available, they may let you have it, but for £10k or above I'd be surprised if any high street bank would let you have it immediately. £2-3k........I would have expected that to be handed over without question.Last car I bought privately c.£9k. I rang the branch of my bank in the town I was buying the car in.
I went there on the day with the vendor, drew the money out, walked over the road to the vendor's bank, did the doc transfer and he paid the cash straight into his account. Worked very well for us.
I went there on the day with the vendor, drew the money out, walked over the road to the vendor's bank, did the doc transfer and he paid the cash straight into his account. Worked very well for us.
anonymous said:
[redacted]
Blimey, that's astonishing. Genuinely gobsmacking; £1000 is hardly pocket change, but equally it's not a kings ransom either.I'm really surprised by that; by contracts, HSBC (I actually bank with First Direct) couldn't have been more helpful when I needed to get £6k out at just about no notice. They did make me wait a bit, spoke to First Direct, but then came up with the cash. They did say that it was out of the ordinary, and that normally they'd have wanted 24h notice for that sort of amount.
Riley Blue said:
We went into a bank yesterday morning to withdraw a substantial amount of cash (several thousand pounds) to pay for a car and they wouldn't let us - we had the ID, the money was in the account but they asked what we wanted it for, then suggested we use 'chip and pin' rather than walk around with a lot of cash and in the end refused point blank to let us have it. So stuff 'em, we transferred it to another bank and will take it out from there and the account will be closed.
Last year I walked into a random branch of my bank, asked to withdraw £5,000 and they didn't even ask for ID, I just had to put my card and pin into the machine. I'd gone prepared with passport etc, but didn't need any of it.
longblackcoat said:
Typically, you need to arrange 24h in advance to take out a "substantial" amount. This applies to ALL banks; if you're lucky and they have spare cash available, they may let you have it, but for £10k or above I'd be surprised if any high street bank would let you have it immediately. £2-3k........I would have expected that to be handed over without question.
News to me, I've never had problems withdrawing thousands in cash from my bank. It was less than £10k we wanted to withdraw and checked with the 'greeter' on the door that it would be OK. She said 'Yes' and she'd go and sort it. When we got to the cashier it wasn't possible. We didn't want everyone else within earshot knowing how much we were trying to take out so left.Greg66 said:
Bankers draft for 90-95% of the asking price; the balance in cash. Use the cash to top up the bankers draft to the agreed sale price after haggling.
Does anyone actually take them anymore? I certainly wouldn't given the number of dodgy ones knocking about.How much are we talking about here anyway? Always a worry going on public transport with any kind of cash imo!
Best thing would be to go when the banks are open and you can pay which ever method and everyone's happy.
ive drawn money out to buy a car 3 times in the last year, each time the amount was above £3,000. all i had to do was ring santander the day before to make sure they had that amount of cash available. i did not need any id only chip and pin.
if i take cash on public transport , i usually, hmmm maybe best not to say :-)
if i take cash on public transport , i usually, hmmm maybe best not to say :-)
Edited by lestershaw on Wednesday 4th July 10:37
Santander are generally rubbish when it comes to withdrawing large amounts of cash. I had a summer job in a local branch and for anything more than £500 you were meant to give 24-48hrs notice and anyone who walked in asking for 5k got pretty pissed when they usually couldn’t have it.
What surprised me is the low amount of cash that was held in the branch on a daily basis (<20k usually). ‘Proper banks’ like HSBC etc I’d expect have a much higher amount of deposits daily and a much higher numbers of business customers so need to hold more cash.
What surprised me is the low amount of cash that was held in the branch on a daily basis (<20k usually). ‘Proper banks’ like HSBC etc I’d expect have a much higher amount of deposits daily and a much higher numbers of business customers so need to hold more cash.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff