Secure way of paying for ebay car

Fairzo

Done a search for answer but nothing relevant came up.

Seen a car on ebay that I like and arranged to check it out on Friday when an RAC inspection would be undertaken. My thought was, if all was ok, to transfer funds by electronic transfer at the sellers home and take the vehicle away with me (it's about 150 miles from home).

Seller says that his online bank doesn't show transfers up very quickly and he would prefer cash. I've no doubts that he's genuine, good feedback including previous vehicle sale, and we've spoken several times. However I'm not happy with the thought of a non-auditable payment trail or, more so, the personal security of carrying a wad of cash around.

Haven't bought a car through ebay before and hope I don't have to again as it's doing my stress levels no good at all.

Any advice gratefully received.

soolin

It is usual for sellers to want cash for a car, unless you are happy to pay one day and then collect the next when the transfer has cleared into the sellers account.

I certainly would not let an item go until after close of business on the day the transfer was made.

mikey72

Same as buying any car.
If you want to drive it away, cash is the only way.
Don't forget the seller has exactly the same stress you have, wondering if the big wedge of twenties are forgeries or not.

aintshesweet

Pay in cash and ask him for a receipt! All he needs to put is a description of the item sold (the car), the amount, the date, and his signature and printed name. Voila.

My partner bought a car from someone via ebay with cash and it was fine.

in_the_Cotswolds

I bought a car of Ebay paid cash, no problems. You have a paper trail, the slip of the log book.

Fairzo

I think I'm probably more concerned about wandering around with several grand on me. Must just be me then .

in_the_Cotswolds

Fairzo wrote: »

I think I'm probably more concerned about wandering around with several grand on me. Must just be me then .

I know what you mean. Could you not go with a friend/mate and leave the money in the car with him then call him/her to bring the money when the deal is done?

Pembroke

How about view the car then both you and the seller go into the local town take the cash out of your bank (you may need to make some sort of advanced arrangement with your bank) and go to his bank and watch him pay it in to his. The bank can confirm the notes are good, the transfer is instant and both parties are happy. Then go back to his place and drive the car away.

digerati

Make sure you get a copy of the seller's drivers licence in case the car was stolen, is a ringer, has finance or fines owing on it... in any event bank transfer is safest for both parties as it provides a legally acceptable proof of payment.