Paying BT for a private car sale help

[den9112]

Hi, its been years since i purchased a car privately and in the next few days i am hoping to purchase a classic car up to £10,000 and pay for it via BT.
I am a bit nervous about it all although i am confident in looking at the car and doing some haggling ..

I am just in the need of some things to look out for to make sure i dont fall in to any traps ,i am going to contact my bank to inform them that i will be making a large amount purchase..I am aware that i need to see the V5 and do the change of keeper there and then ,car is mot and tax exempt ..
I will put the cars reg down as a reference on transfer if anyone can add to any other things i should look out for as i would like a list to take with me ..Thanks

[buyerandseller]

Before you transfer the full amount send a small sum, say £10, to make sure it finds its way to the correct account.

[den9112]

Just put that on my list thanks

[Baldchap]

When you enter the payee details you'll get confirmation they are correct if using a banking app.

[RGG]

Somewhat paradoxically sending a small test amount more often than not now flags up the second full payment as potentially fraudulent.

My best advise is to to the full amount in one go, check carefully, obviously.

And as the previous poster recommends, the receivers details should be confirmed in front of you on the screen.

That bit's much better now.

[fflump]

den9112 said:

Hi, its been years since i purchased a car privately and in the next few days i am hoping to purchase a classic car up to £10,000 and pay for it via BT.
I am a bit nervous about it all although i am confident in looking at the car and doing some haggling ..

I am just in the need of some things to look out for to make sure i dont fall in to any traps ,i am going to contact my bank to inform them that i will be making a large amount purchase..I am aware that i need to see the V5 and do the change of keeper there and then ,car is mot and tax exempt ..
I will put the cars reg down as a reference on transfer if anyone can add to any other things i should look out for as i would like a list to take with me ..Thanks

As well as sending a test payment, make sure you send the money to an account in the name of the person on the V5, and that the person selling the car has ID that says they are the person on the V5 (e.g. driving licence). Best to meet on at the address on the V5 too. No harm in drafting a receipt that the seller signs.

That said I've bought many things over the years for a 4 figure sum by BT (mostly watches) and never had a problem without any of these safeguards!

[unsprung]

The bank transfer is simply the execution of the sale. Before that, you'll need a contract that defines the terms of the sale - and protects the rights of both parties.

The AA have a template.

See relevant link and commentary in the following thread:

https://www.pistonheads.com/gassing/topic.asp?h=0&...

There's also the Buyer Wants a Refund Thread (which hopefully won't apply to you):

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[Hammy98]

Had this recently where someone buying my car transferred the funds and they didn't show up for over an hour.

If you want to minimise the risk of this then both parties contact their bank in advance and make them aware of the upcoming transaction - saves any potential holds being applied.

So I was told by Santander customer service...

[Dr Interceptor]

Am I the only one who spent a few minutes wondering why you'd engage the services of a telecoms company when buying a car?

[lancslad58]

Dr Interceptor said:

Am I the only one who spent a few minutes wondering why you'd engage the services of a telecoms company when buying a car?

Yes, you probably are the only one.

[interstellar]

No I was as well when I read the title.

[Jordie Barretts sock]

And me.

[Dog Biscuit]

I thought it was bluetooth

[WPA]

Dr Interceptor said:

Am I the only one who spent a few minutes wondering why you'd engage the services of a telecoms company when buying a car?

I did wonder why someone would be buying a car from BT when I read the title