Am I being paranoid

virgin_moneysaver

is it usual to bank transfer funds to purchase vehicle on private sale on a banking day when collecting on non banking day, basically a few days between paying & collecting

GAZ237

virgin_moneysaver wrote: »

is it usual to bank transfer funds to purchase vehicle on private sale on a banking day when collecting on non banking day, basically a few days between paying & collecting

Sounds dodgy to me.

Theres no reason you cant transfer the money when you are at the picking up point of the car, makes no odds what day it is..

They can then check the money has been received by logging into their bank.

Online banking is pretty much instant now.

I would steer clear.

virgin_moneysaver

we're collecting on a w/e & the amount is above the online transfer limit, would have to be done via chaps on a Friday

GAZ237

virgin_moneysaver wrote: »

we're collecting on a w/e & the amount is above the online transfer limit, would have to be done via chaps on a Friday

Have you already been to view the car?

Was it at the sellers house?

Was the logbook in their name at that address?.

What is the car, year and price?

How much is the transfer limit?

virgin_moneysaver

viewed vehicle at same address as on v5 at their home full HPI came back all clear, have spoken to them on landline & mobile £25k tf

GAZ237

virgin_moneysaver wrote: »

viewed vehicle at same address as on v5 at their home full HPI came back all clear, have spoken to them on landline & mobile £25k tf

Nothing can ever be 100% safe, but sounds fair enough then.

Guest101

Id rather bring 25k cash on the day!

Ye change the day if you can, seems abit to ...

virgin_moneysaver

I understand why he doesn't want cash as his job is in finance & he's aware of moneylaundering regs & doesn't want that sort of cash in the house can't change to weekday because of work commimtments on all sides

OddballJamie

For a £25k transaction I'd take a few hours off work and go to a bank with him and do the transfer and paperwork.

Herzlos

OddballJamie wrote: »

For a £25k transaction I'd take a few hours off work and go to a bank with him and do the transfer and paperwork.

Definitely this.

Or phone your bank from the sellers house to do the transfer.
Or get a bankers draft sorted out.
If he works in finance he can suggest safer options.

Unless he's an actual dealer (with a proper forecourt), you shouldn't be paying anything in advance.