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best way to pay for used car(private) ?

dunker1
dunker1 Posts: 86 Forumite
in Motoring
Hi all, when buying a car privately whats the best and safest way to pay ?
Obviously cash is a good bargaining tool but are you running the risk of having no proof of purchase if car is stolen etc ?
Is a bankers draught or bank transfer better ?
Sorry for my naivety on this subject, any help appreciated.

Comments

  • TiTheRev
    TiTheRev Posts: 3,215 Forumite
    Bank draft is as good as money and much more secure. If you're going to see the car first you can do the haggling then, and a bankers draft is an almost instant transfer so as good as cash from the haggling point of view...
    :A Luke 6:38 :A
    The above post is either from personal experience or is my opinion based on the person God has made me and the way I understand things. Please don't be offended if that opinion differs from yours, but feel free to click the 'Thanks' button if it's at all helpful!
  • Pew_Pew_Pew_Lasers!
    Pew_Pew_Pew_Lasers! Posts: 2,579 Forumite
    If you're paying with a bank draft, its as well for the buyer's security that he/she accompany you to your bank and watch the cashier write the draft out.
  • Scuttsy
    Scuttsy Posts: 113 Forumite
    Forged bank drafts are becoming more and more common. If accepting a bankers draft for a personal sale I would contact the issuing bank and quote the cheque number asking them to confirm they issued the cheque. May just prevent you falling victim to some scam artist with a scanner and laser printer. Personally I'd rather have the cash.
  • hewhoisnotintheknow
    hewhoisnotintheknow Posts: 3,162 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    surely the v5 is proof of purchase?

    Do insurance companies ask for proof of purchase when a car is pinched
This discussion has been closed.
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