Leeroy Posted January 5, 2012 Share Posted January 5, 2012 I paid for the zed by doing a bank transfer on his PC, we both used the same bank and it was instant. Car before that I paid cash but it was "only" £2k. Same, we were both with the same bank so did an online transfer. I then called my insurance co. to arrange immediate cover. Quote Link to comment Share on other sites More sharing options...
ace Posted January 5, 2012 Share Posted January 5, 2012 I would not recommmend either a Bankers Draft or Cheque from any bank or building society many cars are bought frauduantly with these I would never take either if I sold a car to anybody! cash is also now a problem anything over 5 grand cash the banks ask where it's come from what with money laundering laws I know many dealers cannot take cash for this reason. Best bet is a bank transfer the longest it should take is 2 hours to show in the sellers account normally it's showing out your account and in there's within minutes. Quote Link to comment Share on other sites More sharing options...
techinstaller Posted January 5, 2012 Share Posted January 5, 2012 TBH i would expect cash if i was selling my car any thing up to sort of 15k ,i went and bought my Z with cash 8 and 3/4 in £20's small bag wrapped in a tescos carrier bag makes easy transaction and most importantly nothing changes a deal price or the haggaling than the actual sight of pound notes about to walk away ..... Quote Link to comment Share on other sites More sharing options...
Daryl Posted January 5, 2012 Share Posted January 5, 2012 When i got my Zed,i paid a deposit to the guy on the day of the test drive,and then the following weekend i took a trip down there with over 10k in cash. Was a faff to get it out the bank,as they wanted a few days notice to sort the money out. My partner was abit worried,as you would be,but at the end of the day,its there in solid state,and can be counted and sorted there and then. Its up to you if you feel happy doing that. Id avoid bankers drafts etc,as heard a few stories about them,fraud etc. Quote Link to comment Share on other sites More sharing options...
brillomaster Posted January 5, 2012 Author Share Posted January 5, 2012 looks like cash is the way forward - only thing i would be worried about is going on my own on public transport, worried about getting mugged! but i think as long as i go look at cars with my gf in tow the money wouldnt be in the open until a deal had been arranged Quote Link to comment Share on other sites More sharing options...
Daryl Posted January 5, 2012 Share Posted January 5, 2012 We made sure that the money was split between us,so on the off chance that one of us got mugged,the other still had half the cash. You should be fine on public transport. Quote Link to comment Share on other sites More sharing options...
speedwell Posted January 6, 2012 Share Posted January 6, 2012 It's said there are problems with bank drafts because they could be forged,but you would think the way around it would be to give the seller the draft and invite him to phone your bank to verify it...needs to be bank opening hours of course. Another method...I sold a car a few years ago and the purchaser had pre-arranged that we went together to the counter of the branch of his bank in my town and they gave him a draft for me which I therefore knew was genuine. Quote Link to comment Share on other sites More sharing options...
rm cya Posted January 6, 2012 Share Posted January 6, 2012 bought my Zed by instant internet transfer sitting in his living room whilst filling out the v5. Quote Link to comment Share on other sites More sharing options...
maxi-glasgow Posted January 7, 2012 Share Posted January 7, 2012 When I bought the Zed I had the £10.5k in my laptop bag in cash and flew from Glasgow to Belfast where dealer picked me up and took me to his garage. I went test drive while he counted the cash I remember waiting to board plane trying to remember how much cash your allowed to carry without declaring it!!!! Quote Link to comment Share on other sites More sharing options...
Chris`I Posted January 8, 2012 Share Posted January 8, 2012 Check your bank has Faster Payments (I think nearly if not all do by now) and do it via online banking. Honestly this is the quickest and easiest way for all and 100% safe as funds clear instantly. Works for payments upto £10k, usually with a daily limit of £10k, so no doing multiple transfers. Wouldnt accept cheque, bankers draft or cash, all can be faked far too easily. Faster payments all the way We did this with the Ibiza. Got buyer to log onto bank and transfer money while we there. Then we logged on and saw it was there. Then signed the bits of the V5. Quote Link to comment Share on other sites More sharing options...
Freebird Posted January 8, 2012 Share Posted January 8, 2012 bought my VX220 with 12k cash, brown bag and everything. Needless to say the guy i bought it off was a tad surprised i took that much cash with me, but it all went well. Had a mate with me to drive the car back and i took the one we drove up in, pre arranged a price for the car without even seeing it haha. It was on a if its as is in the advert were all good. The zed i just gave the stealer two cars and £200 lmfao that was the easiest transaction ever Quote Link to comment Share on other sites More sharing options...
Vik54 Posted January 8, 2012 Share Posted January 8, 2012 Never done it myself as I've always bought from main dealers, but I would only ever do it via walking into a bank and doing the transfer there and then, too much to go wrong/get ripped off otherwise. If that meant taking a day off work, it would be worth it. +1 - I think is only safe way to do it for anything over a couple of thousand. Also making the seller aware of this process from the outset ensures they know you're serious - its what I did even though it required a 6am flight on a saturday morning down to Essex Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted February 2, 2012 Share Posted February 2, 2012 A dealer would prefer to take a balance on a Debit Card all day long!! Its safer all round. PS I wouldnt pony up all the cash until you take delivery of the car mind, leave a deposit. I would want to make sure all the work (if any) had been done first, before I hand over the balance. Some people dont know this, but theres a daily limit on debit cards of £30k. I found out this last year when I bought my zed and a few other things and max`d my card limit out! I normally deal in cash when I buy or sell. As someone else said, 7k may sound a lot, but when you physically see it sitting there in 50`s its a very small pile of money. Quote Link to comment Share on other sites More sharing options...
nzr350z Posted February 2, 2012 Share Posted February 2, 2012 Bought my zed for cash from garage,walked around car,went for a test drive then sat in office,took all cash out then said "right how much"?Got £1k off screen price! Quote Link to comment Share on other sites More sharing options...
HaydnH Posted February 2, 2012 Share Posted February 2, 2012 Wouldnt accept cheque, bankers draft or cash, all can be faked far too easily. Faster payments all the way If you're concerned about a bankers draft you can call the bank to ensure it's genuine before accepting it, I've had this happen to me before when I paid with one from a private seller and I didn't mind at all. Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted February 3, 2012 Share Posted February 3, 2012 Just remembered a train journey I had last year. I was sitting on the train coming back from London and this guy sitting opposite`s phone rang. The conversation he had was: "im on a train" "yeah, off to Birmingham to buy an Audi A4" "yeah i got him to knock the price down to 6 grand in cash" I sat there thinking "is this guy serious". Advertising he more than likely has 6 grand in cash on his person isnt the best thing to do on a train in front of dodgy looking skinhead. (err.. moi). Quote Link to comment Share on other sites More sharing options...
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