Buying a car from private seller - how to make it as secure as possible.

forumgeek23

Hi all,
I am possibly buying a 2'nd hand car from a private seller and I wanted to make the transaction as safe as possible. What is the best way of paying for a car? I read on an online article that it was best to meet in a bank. But who's bank? The sellers bank whereby I would phone my bank and do a bank transfer (then she goes to counter to confirm) or at MY bank and do the transfer at the counter and then she phone's her bank to check it's cleared. Any advantage either way? The other way would be bankers draft I suppose.....
Also. Any advantage to all the online checks? I would probably do the full/more expensive HPI check unless others have opinions to the contrary? I think the full check confirms there is no outstanding finance on the vehicle which is what I would want.
Thanks in advance for any help, it's a big transaction and hence being slightly nervous.
Nick

AdrianC

How big a transaction?

TBH, the payment is the least of the issues that you're likely to face. You can just phone your bank and transfer, then the vendor phones theirs to confirm - no need to be anywhere but in the comfort of the vendor's kitchen with keys and paperwork on the table in front of you...

AIUI, there is only one original source for the HPI checks - https://www.hpi.co.uk/ - everything else is a resale of their data, with variations in cost and the protections in place.

foxy-stoat

I would online transfer once car and paperwork checked out ok, confirm with your bank though to see if your reaching limits for online transfers for new Payee.  I wouldn't accept bankers draft for any amount, as I wouldn't be able to spot a fake.  You are buying it from the sellers address, the one that appears on the V5 and driving licence....none of this oh I just moved not updated V5 or licence, lost V5, dog ate it, selling for my brother who is 100% trust final price BS.

HPI it, check the service history, call the dealer of the last few service invoices, check MOT online, google the sellers phone number.  Make sure you complete ALL the required reference numbers and terms on the HPI site before you drive off:

Conditions of HPI Guarantee

1. To qualify for the HPI Guarantee, you must do the following before buying your vehicle:
   1. you must ensure that the vehicle is accompanied by a full and current V5C (log book) from the Driver and Vehicle Licensing Agency, and provide us with the serial number and issue date from it;
   2. you must check that all the vehicle information provided by us as part of the HPI Check matches the vehicle itself and the corresponding V5C (log book), and you must notify us immediately of any discrepancies so that we can investigate. This information includes, but is not limited to, the vehicle’s make, model and derivative, engine size, colour, transmission, fuel type and door plan;
   3. you must check that the date of first registration in the UK of the vehicle we provide as part of the HPI Check matches the date on the corresponding V5C vehicle registration certificate (log book);
   4. you must provide the VIN to us prior to purchasing the vehicle and check that all the VIN markings on the vehicle match each other and the corresponding V5C vehicle registration certificate (log book); and
   5. you must obtain a written statement or receipt signed by the seller of the vehicle, containing details of the vehicle’s VRM and mileage, the date of purchase, the amount paid and the seller’s name and address.
   6. If the vehicle is bought privately then you must purchase it from the keeper and at the address stated on the V5C vehicle registration certificate (log book). You must verify the identity of the seller against those on the V5C vehicle registration certificate (logbook).

EdGasketTheSecond

I just pay cash for low-cost cars but if it were for a figure above £1K, I would use bank transfer now as too many scams/robberies happening.

forumgeek23

AdrianC
20k. 
HPI - thanks, I defo didn't know that.
When you say the least of the issues what do you mean by this?
Cheers.

Stubod

I would not buy a car privately for £20k. Would prefer to pay a little bit more and get from a dealer as better protection and at least a 3 month warranty. Probably a bit different if you are buying an old "classic"..  

foxy-stoat

nickforum3 said:

When you say the least of the issues what do you mean by this?

Whether the seller is a scammer or not, if you are overpaying, reason for them selling the car is genuine or not, you also have zero protection when you buy off a private seller.

What car is it, what is the price at a dealer for the same car?

noclaf

Stubod said:

I would not buy a car privately for £20k. Would prefer to pay a little bit more and get from a dealer as better protection and at least a 3 month warranty. Probably a bit different if you are buying an old "classic"..  

I'd agree with this approach. Personally given the number of scams out there and horror stories even for £10-12k upwards I would only deal with mainstream car supermarkets or ideally main dealers. If it's a classic or particular spec/colour etc then that's a different matter and you have to make a judgement call.
Given my last cars were £3.7k and £5k respectively I can't talk from experience but the last one was main dealer and FMDSH so put me at ease anyway.

knightstyle

Don't forget to check that the car keeper on the paperwork checks out with the person selling.  Never meet half way or outside in a car park without checking where the seller lives.
We have used online bank transfers when selling and buying a car with no problems.
Plus check insurance and MOT if you are going for a test drive.