Best ways to do the transaction
Discussion
Hello -
Am hopefully about to be the very proud owner of my first ever TVR (Chimaera). Am buying privately and was wondering what peoples opinions were on the best way to conduct the money transcation. Seems difficult to be 100% secure for both parties? Any advice would be awesome.
Andrew (sorry about the awesome).
Am hopefully about to be the very proud owner of my first ever TVR (Chimaera). Am buying privately and was wondering what peoples opinions were on the best way to conduct the money transcation. Seems difficult to be 100% secure for both parties? Any advice would be awesome.
Andrew (sorry about the awesome).
Get a banker's draft cheque, fax it to the seller. Tell him which bank its been drawn from and the name of your bank manager and telephone. He can then get the telephone number from 118etc to confirm it is a real bank; and he can then phone and ask if cheque number 123etc has been stolen or is false.
Easy, need bodies though:
At the day of the closing, review your completion memo once more, you arrange to be at the Bank together with the seller. Have a representative by the car and the seller will also have the same.
You call your representative and her verbally confirms to you that the seller's representative has tabled all the documents to pass title to you (V5 counterpart, parking permits etc), subject to payment of the agreed purchase price, which the Seller will confirm to his representative later.
You arrange, via your bank to transfer £XX,XXX into the nominated account of the Seller (either his own bank account or to Yes Car Credit). Seller traces the funds from his bank and once the bank confirms receipt of the finds, the deliver ceremony is complete as the Seller's rep hands the keys to the Buyer's rep together with all necessary documents.
That's my advice - good luck!
At the day of the closing, review your completion memo once more, you arrange to be at the Bank together with the seller. Have a representative by the car and the seller will also have the same.
You call your representative and her verbally confirms to you that the seller's representative has tabled all the documents to pass title to you (V5 counterpart, parking permits etc), subject to payment of the agreed purchase price, which the Seller will confirm to his representative later.
You arrange, via your bank to transfer £XX,XXX into the nominated account of the Seller (either his own bank account or to Yes Car Credit). Seller traces the funds from his bank and once the bank confirms receipt of the finds, the deliver ceremony is complete as the Seller's rep hands the keys to the Buyer's rep together with all necessary documents.
That's my advice - good luck!
getting you confused with Dusty) 
cash perhaps?tamago said:
Easy, need bodies though:
At the day of the closing, review your completion memo once more, you arrange to be at the Bank together with the seller. Have a representative by the car and the seller will also have the same.
You call your representative and her verbally confirms to you that the seller's representative has tabled all the documents to pass title to you (V5 counterpart, parking permits etc), subject to payment of the agreed purchase price, which the Seller will confirm to his representative later.
You arrange, via your bank to transfer £XX,XXX into the nominated account of the Seller (either his own bank account or to Yes Car Credit). Seller traces the funds from his bank and once the bank confirms receipt of the finds, the deliver ceremony is complete as the Seller's rep hands the keys to the Buyer's rep together with all necessary documents.
That's my advice - good luck!
This sounds like a drug deal !!
tvrinbfg said:
Get a banker's draft cheque, fax it to the seller. Tell him which bank its been drawn from and the name of your bank manager and telephone. He can then get the telephone number from 118etc to confirm it is a real bank; and he can then phone and ask if cheque number 123etc has been stolen or is false.
More or less what I did when I bought my Griff - worked very well, used the same system when I sold the car before the Griff - easy!
wedg1e said:Doesn't work like that if the car's for sale in Slough....
My mate bought his Imprezza by the simple expedient of turning up, going for a test drive and then handing over ten grand in cash.
Dead easy.
Ian
www.scoobynet.co.uk/bbs/thread.asp?threadid=250248
Buy with cash ?? - would I trust you handing over that much cash - I can't spot a dodgy £50 note.
Banker's Draft - only people who can cancel this is the bank branch who issued it. You essentially transfer the cash into the bank's cheque account and they write you a cheque out of that account. This is how I bought the Chim.
Banker's Draft - only people who can cancel this is the bank branch who issued it. You essentially transfer the cash into the bank's cheque account and they write you a cheque out of that account. This is how I bought the Chim.
Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff