How do you pay for a vehicle ?

[zim]

Afternoon,

I'm just wondering what is the fastest way to pay for a vehicle from a private seller. A trader can normally just put a debit card through his machine and take the money.

Say for example you wanted to buy an £8,000 car. How would you pay for it ? I wish to view and pay at the same time, with no return trips etc.

Personally i don't mind taking that sort of money in cash, but how many people would like to recieve it that way ?

Cheers

Gordon

[landroversforever]

I paid for my truck with a bank transfer done there and then, online.

Not sure I would really want to be walking around with that sort of cash

[mickeyw]

I would hate to be paid in cash for that sum.

It was bad enough counting a grand last time I tried, never mind the matter of trying to tell whether the cash was counterfeit or not.

[Eightpot]

electronic bank transfer is a good if both banks support the Faster Payments system - payment can be complete within minutes or certainly hours - you have to look for & select this option specifically though, otherwise my bank defaults to standard transfer which takes days.

Some banks (like mine - Halifax) have a £2500 transfer limit, others are much higher.

List of Faster Payment banks here

[GBMUD]

In my experience cash is king. Counting cash can be done quite quickly once you know what you are doing - sorting out dud notes is rather more difficult.

A trip to the bank by both parties to pay cash into the sellers account and complete the sale paperwork in the bank's premises solves all security issues - especially if the buyer can withdraw the cash at the same branch.

Chris

[Bowie69]

Cash Cash and Cash -the only way IMHO.

[lrfarmer]

we once got payed £10k for a car all in cash but that much cash still has to be taken to the bank after

thay may prefer cash as thay may be buying a new car soon after

[tom td5]

yep i have all ways delt in cash too

[Phillis]

cash, but its a tad scary when you get in to expensive cars.

[Landy-Novice]

i payed in cash all be it, it was only £400! even tho i didn't feel well after giving it away!

[muddy]

Cash at the bank as GBMUD says, thats what i did when owed a couple of grand by an unscrupulous non-payer before giving him his ifor back.

[disco-dad]

some one bought our camper for £10,000 in cash.we both went to my bank and they counted it out and checked all the notes were genuine.The buyer suggested that we do this for peace of mind for both parties.

[edessex]

Personally I prefer to deal with cash, buying or selling.

I've done some largish sales, had a hand-held black lamp for checking notes in mass.

PayPal is an option these days as well I guess...

[Guest]

Done Cash, however I think there is a Limit, when I brought the 110 it was a private sale and luckily the chap also had an account with my bank, I had called my bank the day before and told them what I may do, so 10 mins later and £20k had changed hands, without even touching the cash and no cost to either of us, basically I paid the money into his account via my debit card, I don't see why you couldn't do this into other banks and it would mean you had a good receipt.

Jason.

[tel]

i prefer bank transfer personally and i buy and sell cars for a living i hate getting a wad of cash for the reasons above

[Disco-Ron]

dealers won 't take more than 9k in cash these days due to money laundering laws.......................apparently!

[wack61]

I once sold a navara for 10k, the guy collected and paid cash but after the bank was closed, I was bricking it all night with 10k in the house

I think the easiest way would be to see if both banks use the faster payments system and just use their p.c. to send it over , as long as you remember the card reader