Does anyone still pay cash?
Discussion
I still use cash a lot when buying and selling... banking it can sometimes raise a few questions. But, I think with a lot of folk the term has just come to mean, "Pay on collection" (electronic or otherwise). A bit like "Collection in person, only". Seller is usually happy with a courier, just agree terms in advance.
I bought privately 2 years ago when my main bank account was a Virgin One Account with RBS. They had decided to impose a limit of £1,000 for any single online transaction and £10K per day as "an anti-fraud measure" - numpties. 
As the car was more than £10K I didn't fancy getting them to wire the money before I could collect the car especially as it was over 100 miles away so I went to pick it up with a carrier bag of cash and the vendor was happy with that!
A couple of months later someone came to view the one it replaced with his Mum from South Wales to Berkshire. He insured it for one day online so he could test drive it, we agreed on £6,400 so he gave me the cash and took it away.
To be honest for private transactions I think it's still the easiest option, although my main account is now with Barclays who have an online transaction limit of £50K for a single transaction!
As the car was more than £10K I didn't fancy getting them to wire the money before I could collect the car especially as it was over 100 miles away so I went to pick it up with a carrier bag of cash and the vendor was happy with that!
A couple of months later someone came to view the one it replaced with his Mum from South Wales to Berkshire. He insured it for one day online so he could test drive it, we agreed on £6,400 so he gave me the cash and took it away.
To be honest for private transactions I think it's still the easiest option, although my main account is now with Barclays who have an online transaction limit of £50K for a single transaction!
Not exactly on topic but similar. When I was living in Dubai, cash was usually the normal, preferred method of payment. Sold one of our cars just before we left and the guy paid me with this …
The UK equivalent of a 1000 Dirham note would be about £200, there was about £70k there if I remember correctly
I said to my wife, only partially joking, that if I wasn’t back by 4pm then she should call the police as I would likely be dead and buried in the desert … the deal involved selling to a Cambodian guy I’d never met and was via a chain smoking, mafia type 5 series driving, Latvian middleman who operated out of a breaker’s yard in a very dodgy area. Textbook how not to sell your car stuff … but the Latvian turned out to be one of the nicest guys you could ever meet, the cash was real, the deal went smoothly and the hardest part was getting HSBC to let me pay the money into my account.
The UK equivalent of a 1000 Dirham note would be about £200, there was about £70k there if I remember correctly
I said to my wife, only partially joking, that if I wasn’t back by 4pm then she should call the police as I would likely be dead and buried in the desert … the deal involved selling to a Cambodian guy I’d never met and was via a chain smoking, mafia type 5 series driving, Latvian middleman who operated out of a breaker’s yard in a very dodgy area. Textbook how not to sell your car stuff … but the Latvian turned out to be one of the nicest guys you could ever meet, the cash was real, the deal went smoothly and the hardest part was getting HSBC to let me pay the money into my account.
Mr Tidy said:
I bought privately 2 years ago when my main bank account was a Virgin One Account with RBS. They had decided to impose a limit of £1,000 for any single online transaction and £10K per day as "an anti-fraud measure" - numpties.
I remember being told that car dealers only take payment up to £10k or so in cash, and require remainder electronically due to money laundering issues.My neighbour is an old punk who had last driven in 1984. He was looking a van and decided to buy a brand new berlingo, so took the bus 40miles to Belfast with over 17k in a carrier bag. The dealership nearly had a heart attack and initially said they couldnt accept it. Resolved with a call to the bank who confirmed he had withdrawn it that morning with prior arrangement.
He's very much a character, and put 1100 miles on his van in the first year! (I did advise him to buy a 2nd hand one as it's just for dog duties but he got fed up being asked about VAT and he has a few quid).
He's very much a character, and put 1100 miles on his van in the first year! (I did advise him to buy a 2nd hand one as it's just for dog duties but he got fed up being asked about VAT and he has a few quid).
jonwm said:
Wife's cousin is a hairdresser and paid near on £10k cash plus her old car to get into a white m sport X3 just after lockdown (bear in mind they were shut for most of it!) Oh to be self employed 
My wifes a hairdresser (got her own salon) and prior to Covid it was 60/40 card to cash. Now she sees less than 10% a week in cash. On topic - last time I paid cash was for my old Jeep Grand Cherokee (6 months old) I paid 6k deposit in cash, rest was part ex and finance. Sales manager was trying his best not to stare daggers at me as it had to be double counted, security bagged, safe deposited etc.
My last 3 cars though have just been debit card rather than physical notes, current Mercedes dealer won't take cash for anything - even an MOT.
saaby93 said:
Ebay adverts for cars around £10k - cash on collection.
Does anyone still turn up with a carrier bag of notes to do the transaction?
Not quite carrier bags - and a much cheaper car - but I had notes rolled up in my socks, a variety of pockets and wallet to spread the risk for a £1,300 Volvo six months back! Had I not travelled there on several trains, I wouldn’t have bothered with the subterfuge...Does anyone still turn up with a carrier bag of notes to do the transaction?
When I sold my wife’s Yaris - for £6k - the buyers wanted to pay half cash, half online, which just seemed like hassle, forcing us to go the bank and manually pay it in, which during a pandemic adds an unnecessary risk. Thankfully, they were able to transfer the whole amount online in the end…
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