Payment for car

Sandieflowers

Viewed car, left £200 cash deposit but seller is not willing to accept bank draft or cash for the balance and wants a bank transfer into his account. We have been in touch with our bank and a transfer would take at least three days, the only day we are able to collect the car is on a Sunday so this transfer would have to be done a few days before we actually collected the car.

The seller does seem upfront, we viewed the car at his address and all the paperwork and our HIP check is in order but I am reluctant to pay such a large amount into a strangers bank account as once it leaves ours we still won't have the car.

The seller is reluctant to accept cash because of the risk of forged notes the only solution I can see is for him to deliver the car to our town on a weekday and accompany us to the bank and accept the cash direct from them and then we drive him back home (travel time from us approx. one and a half hours).

Am I being reasonable or has paranoia set in !!!

CvPiper

Get a bankers draft and give it to him on collection, that way it is guaranteed for him, and instant for you.

Sandieflowers

Thank you for such a quick reply, seller is not willing to accept a bankers draft as it could be stopped or forged !!!!

Inactive

A Bankers Draft is an acceptable means of payment by most car dealers, so I would insist that is the only form of payment that you are prepared to make and if it isn't acceptable to the seller, insist on your deposit back and go elsewhere.

Sandieflowers

Thanks for reply, this car is not from a dealer but a private seller.

lisyloo

Well I only have two suggestions really.

Cancel whatever you are doing on Saturday and go the the nearest bank with the seller and pay the cash into the sellers bank account.

or

ask for your deposit back.
The problem is that the seller now has it and you didn't agree this beforehand.
I presume you have a receipt for the deposit?

Lemonade_Pockets

Inactive wrote: »

A Bankers Draft is an acceptable means of payment by most car dealers, so I would insist that is the only form of payment that you are prepared to make and if it isn't acceptable to the seller, insist on your deposit back and go elsewhere.

To be fair it is getting less and less common for bankers drafts to be accepted as they are relatively easily forged.

I can never remember which way round it is but if you do a chaps/bacs transer early in the morning it will clear in his bank account the same day.

You could do as you have suggested and both go to the bank together. You could probably arrange with your bank to do this at a branch local to him.

Or as an extra safe gaurd you could ask to see a cheque book or bank statement bearing his address and the account details he wants you to transfer money to. Obviously cross reference this with the address on the Log book and the house where you visited him.

jaypr

You can always tell him to get a counterfeit note detector pen if he's suspicious of dodgy notes.

I use them when people collect items and pay in cash.

Jason

Sandieflowers

Thank you lisyloo, the problem we have is that we are in a retail business so Sunday is the only free day. We do have a receipt for the deposit. This car was on ebay but we were unable to view it until Sunday (a day after the auction ended, the bidding did not reach the reserve) but on the listing it did say bankers draft so presumed that it would be acceptable.

We are quite willing for the seller to drive to our town and accompany my husband to the bank to withdraw the cash and then hubby will take him home while I look after the business but does this sound reasonable. We have never bought privately before and so are reluctant to transfer such a large amount.
He does seem very genuine but we are also genuine as he is unwilling to take a chance with us, why should be take all the risk?

hartcjhart

depends on how much you want the car as to what you do,

I personally think he is being just a pain wont have this wont have that,I would say right you wont have my money

Sandieflowers

Hi Jason, We do have a forged note detector in our business, one of those ultraviolet ones, I did think of suggesting taking that with us but he could possibly be suspicious of that.