Is bank transfer safe?

DUTR

chrisw wrote: »

Hi,
I'm going to buy a car privately for around £4k. I'm not bothered about picking it up for a few days, what's the best way of paying for it?

The easiest for me would be to get the sellers bank details and do a bank transfer but then the seller would have my money and the car.

I could pay by cheque and wait for it to clear but again they have my money and car.

Bank drafts also seem susceptible to being faked.

I could get cash out but it seems to be difficult to get (from HSBC) and there seems to be concerns around fake notes.

If the car is registered at the sellers address would bank transfer be safe?

Buying privately is more stressful than I thought.

I trust you have already viewed the car?
The seller is ok with Bank transfer?
in 2000 I transfered just under £10k for a car which was 60 miles away, I had already viewed the car , I was in the same mind as you that the guy had my money and the car, but he picked me up from the train station and the transaction went smooth, when selling the car the buyer wanted to pay cash, I told him to return the next day when the banks were open and he could pay it straight into the account.
At the end of the day you have to be wary whether buying or selling, one hat doesn't fit all.

EdGasketTheSecond

chrisw wrote: »

Hi,
The easiest for me would be to get the sellers bank details and do a bank transfer but then the seller would have my money and the car.

And if you pay cash he has your cash and the car if he decides to say that you never handed the cash over. Whatever method you use there has to be some element of trust. If the seller looks 'that bad' that the trust is not there then you'd better look for a different car and seller.

knightstyle

As others have said Bank transfer on picking up is what I have done twice, no problems. Just make sure you go to their home.
When I sold a car, over £10k, two big men came with cash! After they had had a good look and drive in the car I insisted we all go to my local bank where the money was counted and checked before I did any paperwork. Again no problems and they turned out to be nice guys.

debtdebt

House_Martin wrote: »

I bought my last car , 6k , with my debit card. No probs and straightforward.I would have thought all big garages can process debit/credit cards

It's a private seller.