Buying a car privately

[Tan]

Hi

We have found a car that we are interested in purchasing from a private seller.

I will be carrying out an HPi check and having the car inspected by a main dealer, so that should take care of that side of things.

However, what is the best way to deal with payment?

Sorry if this is a silly question but I have never purchased a car privately before. The other complication is that the seller, a police officer lives in both London and Hereford, the car is registered at his Hereford address, is there a safe way to buy the car from his London address?

Best regards

Tan

 

[LTD]

Bank Transfer of funds.

That way there is a paper trail. Get a fully detailed receipt as well.

Always remember that the registered keeper of the car is not always the owner - ascertain the ownership. Receipt etc.

 

[Chrishazle]

Agree with Ltd above - via BACS or CHAPS so there is a paper trail, plus you have the seller's bank details. BACS takes 3 working days to be cleared funds, I think CHAPS is same day but costs.

Don't forget the relevant bits of the V5!!

Is it a Boxster you're buying your wife??

 

[Tan]

Agree with Ltd above - via BACS or CHAPS so there is a paper trail, plus you have the seller's bank details. BACS takes 3 working days to be cleared funds, I think CHAPS is same day but costs.

Don't forget the relevant bits of the V5!!

Is it a Boxster you're buying your wife??

Providing we can agree on the price, yes its a Boxster.

 

[Smiley]

sorry if this is a stupid question but how can a copper live in London and Hereford?
On the other hand if he really is a copper then thats good - they have to be a bit careful with their private dealings.

 

[clegsr]

Alternatively, /paranoid mode/ he is just saying that he is a policeman to lull you into a false sense of security (old copies of police gazette etc etc)/paranoid mode off/

 

[Tan]

Alternatively, /paranoid mode/ he is just saying that he is a policeman to lull you into a false sense of security (old copies of police gazette etc etc)/paranoid mode off/

That was my thought, could I ask to see his warrant card, or are they not allowed to use it as proof of id?

 

[Deleted member 37751]

In my experience of buying a car via a private sale, take nothing at face value. I would pay to have a good mechanical check done because if it costs you, say £200 to have a check done, if the car you are buying turns out to be a lemon, think how much you have saved. I bought an Audi A6 4 years ago from a private seller who came across as the nicest man you could wish to meet, he lived in an affluent area etc etc. I didn't bother having my mechanic friend look over it and bought it thinking ' this man seems genuine and honest, I've got nothing to worry about' -it transpired that the car was on its last legs- clutch/ gearbox on its way out, suspension was no good, the list became endless. I paid £6k for the car and the man at Audi told me I was probably looking at £5k worth of repairs So think long and hard and do your research

 

[Swozza]

Although I agree in principle with the bank transfer suggestion. As its a private seller, surely its up to them?

 

[jaymanek]

I would never do a bank transfer on a private sale... imagine you do the transfer and the car is then nowhere to be found... or you cant get hold of the seller..

You must be careful. I would offer a bankers draft, that way it only exchanges hands at the same time as you get the car keys.

I buy and sell many cars daily, but only from trusted sources on the whole.

With my pagoda, I had met the seller at his home a couple of times but I still insisted on taking a bankers draft or cash and only handing it over once the paperwork was done.

 

[tpwuk]

Cash is the only way for me. I sold a Range Rover a few months ago. I collected the buyer from the train station, took him to my house so he could inspect the car and then drove him to the bank where he withdrew the cash.....£14K I don't trust bankers drafts.

 

[flango]

Cash is the only way for me. I sold a Range Rover a few months ago. I collected the buyer from the train station, took him to my house so he could inspect the car and then drove him to the bank where he withdrew the cash.....£14K I don't trust bankers drafts.

I'm the same as you "Private Sale = Cash" seen too many dodgy and fraudulent BD's in my time, and Jay points out the obvious flaw with bank transfer.

 

[rees_A]

I always buy/sell with cash. Just make sure the notes aren't still 'wet' lol.....
Check all the paperwork vin nos on car etc. Oh and check tax disc carefully including dvla check. I got stung recently with what looked like a genuine tax disc that was actually a fake. Cost me 100 to get car from pound...

 

[rossyl]

My fear is always that when i go to register the car, after sending off the V5, there'll be an issue...despite the fact I've done an HPI.

I'd also prefer cash and exchange of keys at the same time. The only other methid i can think of is Paypal, but then the buyer always has the option of claiming the return of money, and there are fees to be paid for the seller...so it's not ideal.

 

[wemorgan]

A few weeks ago my method was:

visit bank to get banker's draft at lunch time
phone vendor to give reference number
vendor phoned bank that afternoon to confirm number
met up that evening to collect car and hand over draft

 

[asad7860]

The last two cars I purchased were privately.
1. - C32 - £16,500 cash. I withdrew the cash from my branch and then agreed to meet the seller in his branch. he deposited the money, which was "cleared funds" and then he handed the V5, and keys to me.

2. E55 - I went to the sellers house. He had bank accounts with HSBC, Santander, Barclays etc. I logged into my HSBC account, and wired the funds to his account. Max amount per transaction was £10,000, so had to make 2 transactions. He then logged into his online HSBC account and the money was in his account. He then rang the telephone banking team - they confirmed the money was cleared funds.

Both of these work well. The latter felt safer for me, as I hate carrying large amounts of cash.

good luck

 

[clegsr]

A few weeks ago my method was:

visit bank to get banker's draft at lunch time
phone vendor to give reference number
vendor phoned bank that afternoon to confirm number
met up that evening to collect car and hand over draft

+1 vote for this method

 

[keysl]

The last two cars I purchased were privately.
1. - C32 - £16,500 cash. I withdrew the cash from my branch and then agreed to meet the seller in his branch. he deposited the money, which was "cleared funds" and then he handed the V5, and keys to me.

2. E55 - I went to the sellers house. He had bank accounts with HSBC, Santander, Barclays etc. I logged into my HSBC account, and wired the funds to his account. Max amount per transaction was £10,000, so had to make 2 transactions. He then logged into his online HSBC account and the money was in his account. He then rang the telephone banking team - they confirmed the money was cleared funds.

Both of these work well. The latter felt safer for me, as I hate carrying large amounts of cash.

good luck

Agree with the above for large amounts, lower amounts it's cash only for me.....

 

[MJH]

Personally I've done loads of private deals both buying and selling and touch wood not had a problem. That said I am mechanically minded so I always go armed knowing what I'm looking at and always pay cash on collection. The majority of people out there are genuine but commen sense and caution will see you right.

With the address thing I would ask to collect the car from the registered address only. Then check the obvious stuff like paperwork, VIN numbers all tally etc HPI check and as mentioned ask to see the guys warrant card as proof of ID it's defo not a problem for him to show you it and make a note of his details for future ref if there is a problem.

Bankers drafts can't always be trusted but if he'll take one then it's probably safer than carrying big wads of dollars.

Good luck

 

[Tan]

Hi

Thanks all for your replies, we have agreed a price and hopefully the car will go into Porsche on Friday. The seller has told me the car has finance on it, so that adds another problem, how do we clear the finance before we pay for the car, as the seller needs some of the money from the sale to clear the finance.

Thanks

Tan