buying a used car from private seller

annie_bananie_2

We've found a car we'd like to buy from a private seller. Want to know how to physically pay for the car safely. Looked at lots of info on internet but am still unsure. Seems to be a risk to one side or the other. Either we hand over money (whether cash, electronic transfer, bankers draft) before getting car or they hand over car before getting money. Our complicated plan was that my husband would go to meet them somewhere we both have our bank branches, seller would hand over keys and registration document, we would withdraw cash and go with seller to bank whilst he paid in, then if all happy, deal completed. Have read that seller shouldn't hand anything over till has money but what is to then stop him just doing a runner when he has money as we have no proof that we are buying anything from him. Aware I sound so distrustful which isn't me but the car is 8500 which is obviously a massive amount of money for us and which we can't afford to lose.
Can anyone help???

LandyAndy

Whenever I've done it I've taken cash and filled out the paperwork there and then, exchanged the cash for the keys and driven away.

The same when I've sold for cash.

Maybe I've been lucky in the 6 or so times I've done this but every buyer or seller I've dealt with has been perfectly honest.

The most I've done this with was about £3k but it was 20 years ago.

scheming_gypsy

annie_bananie wrote: »

We've found a car we'd like to buy from a private seller. Want to know how to physically pay for the car safely. Looked at lots of info on internet but am still unsure. Seems to be a risk to one side or the other. Either we hand over money (whether cash, electronic transfer, bankers draft) before getting car or they hand over car before getting money. Our complicated plan was that my husband would go to meet them somewhere we both have our bank branches, seller would hand over keys and registration document, we would withdraw cash and go with seller to bank whilst he paid in, then if all happy, deal completed. Have read that seller shouldn't hand anything over till has money but what is to then stop him just doing a runner when he has money as we have no proof that we are buying anything from him. Aware I sound so distrustful which isn't me but the car is 8500 which is obviously a massive amount of money for us and which we can't afford to lose.
Can anyone help???

your plan makes you sound more dodgy than a potential dodgy seller.

firstly - you shouldn't just meet somebody somewhere who's selling a car. How do you know it's not a stolen car if you're not going to their home address?
secondly - you don't want to hand over the money in case the seller runs off but you think it's ok for him to give you the keys and registration and to trust your husband not to run off.
thirdly - i'm struggling to work out your method of payment. You want to go to your bank and then to go to the sellers bank while he pays the money in?? why?? i can't see why you'd have to accompany the seller to the bank while he pays the money in.


You need to find out what payment he wants and arrange that, which will probably be cash. You go to their house so you know where they live in case anything goes wrong, and it's unlikely somebody will be selling dodgy cars from their house
When you agree to buy it, he writes you a receipt and you hand over the cash. While he's counting it you fill in the new keeper details on the V5, shake hands and off you go.
If you're a bit worried about carrying £8500 around, give the seller the impression that you're going to look it over and not to buy it there and then. If you like it then you can talk money and then pull it out of your pocket.

colino

As you have not bothered doing even the most basic of searches: Please, please, go to your nearest "main dealer" and find the shineiest car of your favoured colour and sign up to whatever the newest, most bespeckled, skin deformed "executive" that can put your !!!! in to. You are so far away from reasonable help about buying a replacement car I am sure you are from "watchdog".

forgotmyname

Dont have the money to lose then dont buy a car from a private seller with no comeback if it blows up on the way home.
or it turns out the dont actually own the car.

Spend £500 on a car, At least you get 16 chances of buying something that gets you home.

Or buy from a reputable dealer.

boyse7en

When I bought my motorbike (£4000) from a private seller, I arranged to go and view the bike at his house, then we both went to his local Natwest bank (as we both had accounts with Natwest) and just asked to transfer the £4k from one account to the other. We just handed the cashier our bank cards to do it.

I must admit that I don't like wandering around with cash at all. Traveled to Birmingham on the train once with £3500 in an envelope in my pocket and spent the entire time worried that I'd lose it, leave it somewhere or get mugged or something. Certainly wouldn't like to take £8.5k in my pocket.

LandyAndy

forgotmyname wrote: »

Dont have the money to lose then dont buy a car from a private seller with no comeback if it blows up on the way home.
or it turns out the dont actually own the car.

Spend £500 on a car, At least you get 16 chances of buying something that gets you home.

Or buy from a reputable dealer.

The only time I've bought a car that turned out to have outstanding finance it was bought from a reputable dealer.

moonrakerz

annie_bananie wrote: »

Our complicated plan was that my husband would go to meet them somewhere we both have our bank branches, seller would hand over keys and registration document, we would withdraw cash and go with seller to bank whilst he paid in, then if all happy, deal completed.

That was the plot in last night's "Spooks" !! and it didn't work either..................

fivetide

LandyAndy wrote: »

Whenever I've done it I've taken cash and filled out the paperwork there and then, exchanged the cash for the keys and driven away.

The same when I've sold for cash.

Maybe I've been lucky in the 6 or so times I've done this but every buyer or seller I've dealt with has been perfectly honest.

More or less word for word.

Never had an issue. Most expensive purchase was £5000. took him and his mrs a while to count it!

5t.

LudaMusser

OP, things don`t need to be this complicated..

When you met the seller for the first time you must have got a feel for the person and their character. If you thought that they were at all dodgy then don`t buy the car from them!
What I would also do is check that the address at which you are viewing the car is the address which is registed on the V5, if it is`nt I would want to know why.
I would`nt want to buy a car off somebody unless it`s at their house, I`ve heard stories of ppl meeting in laybys etc. Sounds very dodgy.
Take your husband with you, if you`re worried about the other person taking your money and running just block their car in!