How to pay for a 18K car?

[Alps]

Hi, question for ya all

Im picking a new car up next week, and have offered to pay via bankers draft, i told the seller that i will get the draft and give him the branch details and fax a copy over to him so that he can verify it prior to me picking it up.

he says he would prefer a CHAPS payment or would like to wait until the draft has cleared before i pick the car up! the seller seems a nice bloke and genuine, but in these times better safe than sorry and the chaps route seems a bit risky.

i dont think i was unreasonable, what do u guys think? also is there any other way of instantly paying for a car (without cash).

 

[BaldGuy]

I've always done the bank transfer for large amounts, its easy, secure and instant payment most of the time.... All you need is his bank name, sort code, account number and your away... Allot of people do not accept drafts anymore due to forgerys so you may as well just write a cheque if your going that route and save yourself the draft money.....
Good luck with the new toy

 

[jaymanek]

the only way is to go with him to your bank and do a chaps which then will be in his account within hours.

There have been a lot of dodgy drafts around so a lot of people arent accepting them.

 

[jocasta]

Definitely CHAPS all the way

 

[Dryce]

i dont think i was unreasonable, what do u guys think? also is there any other way of instantly paying for a car (without cash).

Yes. With a debit card. That's how we've done our last few cars.

But this guy isn't a dealer is he?

 

[rizzer]

I've used debit card and CHAPS, no problem, nice and easy. Its good to question these things though, money is hard to come by so you got to look after it!

 

[Koolvin]

just don't do what I did - stuff a whole load of 50's in my underpants

 

[Chris Akabusi]

CHAPS all the way and get the bank to do it.

 

[e55]

Congats! on the new car.
Did you get the telerite Silver/blue one?

 

[Alps]

Congats! on the new car.
Did you get the telerite Silver/blue one?

thanks, yes dont want to get to excited till the keys are in my hands tho, hopefully getting it next tuesday, will keep u all informed!

 

[BaldGuy]

Wednesday is my day

 

[SLK350]

I paid for mine with a debit card, the guy came to the house popped it in his card machine and after a call from the bank we were all sorted.

 

[e55]

thanks, yes dont want to get to excited till the keys are in my hands tho, hopefully getting it next tuesday, will keep u all informed!

Going to be a long week then!!!

I think I know which car you got as I saw it when I was looking for mine. If I am right its an 04 model, 55k miles and has pano roof. I remember that car as the colour was very unusual.

 

[del320]

My last few car purchases (when I was still in gainful employment) were completed with a bank draft.

Trouble was, I worked in a bank and wrote and signed the draft myself - got some right funny looks...

Nowadays, CHAPS all the way if the deal has been struck.

 

[Will]

Cash is King

Although I respect the fact that most/many will not agree

Will

 

[Matt32AMG]

CHAPS or BACS payment, it doesn't get any easier

 

[Dryce]

Cash is King

Although I respect the fact that most/many will not agree

If paying a business then cash can cost them around 0.5% to bank.

It carries a high theft risk plus any associated threats or acts of physical violence.

 

[DSLiverpool]

I think going to your bank and doing the transfer in front of the seller is a nice honest and mutually respective way of trading between two private parties.

 

[wemorgan]

I would:

meet the seller at his house
check over the car and paper work once more
then together go to the bank to make the transfer (or telephone?)

 

[raymont]

Agree with the various posters who have suggested the gl to bank do transfer approach.

Slight variation on the theme, if it makes the seller happier - not sure why it would, but people do have foibles - is to make an arrangement with a branch of your bank local to the seller to issue a draft. If you're happy with the car go to the bank with the seller have the draft issued and give it to him / her.