How do you move money to a seller you don't know?

[Stickshifter]

I have another msg on here re: buying a 997 T...if i don't buy from an OPC but buy from a private seller (or small prestige company) and I need to wire them a big amount of money any words of wisdom how you do this if you don't know them from Adam/trust them. You wire the money, turn up and no car, turn up and no one there etc etc....

Help appreciated..


-S

[purds]

Have a look here

www.autocheck.co.uk/buying-advice.html?persist_AffiliateID=9&AutoLocateID=15D26AA628E42F086D5A6FBB

When it comes to parting with the cash I suggest handing over a Bankers Draft at the same time as you pick up the car (OR 2 drafts, one for the vendor and the other for the finance company if there is finance on the car)

[Stickshifter]

THAT is really useful thanks...bankers draft are not that reliable btw

[sleep envy]

IMHO cash is best but if it's a small indy and they have CC/DC facility you can put the money into your account and pay by card

[purds]

Stickshifter said:

THAT is really useful thanks...bankers draft are not that reliable btw

They are totally reliable if you are the purchaser.

[sherman klump]

Go to the bank with the other party.
He takes his Porsche with him.
Get the draft made out in front of him.
Sit down with the bank manager and exchange keys and draft.
Thats what i do if i buy private.

Not hard.

[Pickled Piper]

I paid for my car by debit card. I wired the money into my current account and notified my Bank. On the day, I turned up at the dealer, phoned my Bank and had them raise the card transaction limit on my account for a few minutes. During this time the dealer processed the transaction. Instant payment and no security issues.

pp

[triple7]

CHAPS - £25 and if organised before midday, should get it by 4pm same day. (Usually alot sooner than that.)

G)

[C2'S'man]

I recently did this, when i bought my gt3, the guy watched the draft made out in his name, then we simply made the exchange back at the garage, where the car had been inspected. Like klump says, easy peasy

[spyros]

I find picking up a Bankers Draft from the bank in front of the seller gives them peace of mind ald also means you can drive the car away a few minutes later.

[meridian]

Just swipe your debit card. There is no need to 'raise your limit' as previously discussed (nonsense) or contact your bank. A debit card can be used to transfer whatever funds are available, albeit subject to a 'telephone authorisation' by the vendor. As long as you are who you say you are and can answer the security questions presented by YOUR bank then it's totally straightforward. Most vendors would prefer this method assuming that they facilitate card payments. If they don't, then all comments above regarding drawing drafts at the bank in front of the seller etc make totally good sense !

Edited by meridian on Monday 29th January 20:52

[deutscher]

When I sold my 911 to 911virgin we both went to the bank (in my wife's car), I watched them write the Banker's Draft out, picked it up then walked over to the cashier and paid it in, then handed the keys to Henry (the Porsche had been left at his place). Everybody happy. We did give him a lift back!

I then recommended 911vigin to a mate and he was happy to take an ordinary cheque (I would never do that).

[Boosted LS1]

If you can use your credit card don't you get some extra protection? This assumes your limits high enough.

Boosted.

[Vesuvius 996]

deutscher said:

When I sold my 911 to 911virgin we both went to the bank (in my wife's car), I watched them write the Banker's Draft out, picked it up then walked over to the cashier and paid it in, then handed the keys to Henry (the Porsche had been left at his place). Everybody happy. We did give him a lift back!

I then recommended 911vigin to a mate and he was happy to take an ordinary cheque (I would never do that).

I hoep you charged him for the lift back

[shadowninja]

sherman klump said:

Go to the bank with the other party.
He takes his Porsche with him.
Get the draft made out in front of him.
Sit down with the bank manager and exchange keys and draft.
Thats what i do if i buy private.

what i was gonna reply with.