Private Buying Advice Please
Discussion
Hi Guys,
I'm looking to buy a car soon from a private seller, normally I would by from trade.
What's the best way to get the money to the seller, so they know it's all legit etc, basically I only want to travel to get the car once, rather than make journey's to test drive and then back to buy etc.
So what's the best option that the seller should be happy with? Bank draft, electronic transfer (will this work on a Sunday for example?).
I guess the bankers draft is the obvious choice for me (having not yet moved in to the 21st century with interweb phone and stuff!!)
Any advice to protect both me and the seller would be appreciated.
Cheers
Ash
(tried searching to find an answer, but couldn't find anything suitable).
I'm looking to buy a car soon from a private seller, normally I would by from trade.
What's the best way to get the money to the seller, so they know it's all legit etc, basically I only want to travel to get the car once, rather than make journey's to test drive and then back to buy etc.
So what's the best option that the seller should be happy with? Bank draft, electronic transfer (will this work on a Sunday for example?).
I guess the bankers draft is the obvious choice for me (having not yet moved in to the 21st century with interweb phone and stuff!!)
Any advice to protect both me and the seller would be appreciated.
Cheers
Ash
(tried searching to find an answer, but couldn't find anything suitable).
Even with cash, do the transaction at a bank as a seller to make sure the notes aren't forged. I will usually accept a banker's draft taken out from the buyer's bank that day in front of my eyes so I know it's genuine or as said, a bank transfer of funds from buyer's to seller's account.
AshVX220 said:
Cheers guys, the value is just shy of £7k, is there a limit to an electronic (is that CHAPS) transfer? And will it show up on a Sunday? I'm starting to think that cash may be the best option, just a tad nervous, 'cos it's a lot.
No, Chaps can take the whole day to clear and not sure if it works only on working days. Whats wrong with doing this during the week and taking out the cash/handing it over at a bank branch? That way he knows it's legit and you don't have to carry around lots of cash with you.Why are you so worried? It should be the seller concearned about the legitimacy. You need to speak to them to see what they would be happy with.
The best and safest way is would be to go into your bank with the seller so they can see you take out cash (probably most ideal) or a bankers draft.
The best and safest way is would be to go into your bank with the seller so they can see you take out cash (probably most ideal) or a bankers draft.
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