Buying expensive cars privately?

[iain123]

I love buying cars privately due to the following benefits:

+You meet the previous owner and can checkout the type of driver they are and evaluate their financial position (to service the car correctly)
+Price advantage.
+Not many peeps can sell a lemon and look you in the face and most lemons get punted back into the dealer network as trade ins.
+Cars are usually displayed warts and all rather than tarted up by traders.

However, it takes some serious gonads to buy privately for anything above simple £5K cash deals.

Rather than use the comfort and security of a trade purchase, has anybody ever bought privately for say over £20K where it would seriously hurt financially if you got conned?

How do you deal with the financial transaction for such large amounts of money? Bankers draft handed over when to pick up the car? (but so many are stolen these days...)

[James_G]

Sold a car for £15k privately. Buyer didn't test drive, but car was still under manufacturer warranty so perhaps not that big a deal. Money changed hands (virtually) in my local branch of HSBC so all very pleasant and easy. Not bought at that price point myself but would do something similar.

[Turkish91]

I bought a £10k Evo privately that fully shat itself after 5 days

[pdavison]

Bought several cars over this sort of price bracket privately. Online fund transfers do the trick but sometimes you have to make more than one transaction as some limit at £15k per transaction.

[foxoles]

Bought a classic Lotus for £23.5K - car was perfect though, recently restored with pictures/invoices etc.
Seller was a GP and transferred money at his local bank where the cashier recognised him.

[xjay1337]

Anything that has or could be under manufacturers warranty and is over 30k , I'd prefer a MAIN dealer.

Independant dealer and private sale makes no odds.

You live in a strange world if you think anything over £5k is risky privately.

[antspants]

Did a bank transfer for £27k for the purchase of my current car, have to say I did feel slightly nervous that I'd turn up to an empty house and driveway when I went to pick it up. But 2 years on car has been great!

[DKL]

I've bought a couple privately between £10-25k. Viewing at vendors house, bank transfer immediately prior to travel to collect, establish lots of communication along the way and collect. No problems so far.

[j8bbk]

Bought my previous car (Audi S1) privately as it had £10k of extras and was only 3 months old. Seemed a better buy than a new car with less options. Pretty nerve racking transferring not far off £30k the night before.. didn't sleep one bit - never Again!

[lewisco]

My last car was £7k privately and I did the transfer at his house (on my computer). I wouldn't transfer without being there at the time.

[Dave Hedgehog]

j8bbk said:

Bought my previous car (Audi S1) privately as it had £10k of extras and was only 3 months old. Seemed a better buy than a new car with less options. Pretty nerve racking transferring not far off £30k the night before.. didn't sleep one bit - never Again!

its when the police turn up a month later to inform you its stolen and they are taking it and you can kiss your money goodbye

[jjr1]

I will be buying a car for 30 to 40k privately in the next month and I will only consider a private purchase or an auction. I like a bargain !

[Alex_225]

I bought my CLS privately for a bit over £20k.

What took some of the worry out of the purchase was seller was a good friends father in law. He'd owned the car for a couple of years from 12k-17k so low mileage and very well cared for.

For the right car I would buy privately. Although it is something I had thought about as we'll be selling my other halfs SL later in the year and will be pricing that over £10k so no expecting a fast sale.

[dontfollowme]

I have only bought two cars privately. I like it for the money you save but if I don't fully trust the seller I walk away which makes it a time consuming process.

[Yipper]

A few punters on the PH Supercars subforum have bought and sold privately in the £50-200k range over the years. Tends to involve going to a bank or lawyer's office in the morning and staying with the teller, lawyer, buyer / seller until the cash is 100% confirmed in the account and 0% chance of bounceback or retrieval.

[Mattjevans]

When I lived in Dubai I paid in cash for a 3 year old Range Rover Sport Supercharged. Went with the bloke to the vehicle licensing place where he transferred it to my name.

[Digby]

A £500 snotter is 'expensive' if you only have £100.

[Mattjevans]

PS I do appreciate that has little (i.e. No) relevance to the question of buying privately in the UK but the memory amuses me.