Paying for your car

[Brendan]

When I recently sold my car the £ was transferred within seconds.

Just spoken to my bank and a bank transfer to another persons account could be instant or take all day, theres no way of knowing. I could have the £ wired to the other person though I will have to pay for this, and it could also take up to 2 hours.

Did not fancy cash or bankers draft. Paying by debit card?

 

[nigw]

Partly depends on the seller. On previous cars I've either taken along cash, or, in the last few years, done an instant bank transfer using the 'faster payments' system...seller then calls their bank and confirms cleared funds. However anything over £10k doesn't go through immediately.

For my last purchase, the sum involved was sufficient to warrant the seller opening an account with the same bank as me - which apparently took no time at all. We then went into the branch with passports etc and I did a cash transfer directly into his account. Was very easy and hassle-free.

The other option is CHAPS, which usually costs £25 and is guaranteed to clear by close of business.

People tend to be nervous of banker's drafts, as they can be faked.

 

[Parisien]

I paid for Mrs Parisiens car last month using a standard VISA debit card, no difference in paying £1 and £15000, they just ring up your bank and check funds are in account, then transact as normal


P

 

[EnzoMC]

I used my debit card with a dealer, obviously if its not a dealer, could you not phone the persons bank to pay money into it using your debit card ?

another option maybe paypal or nocheqs ?

 

[Felonious Crud]

Likewise, debit card. The dealer needed to call the bank and they needed to confirm who I was but it worked ok. Was more of a problem at the post office when I went in right after to buy tax because the bank decided there was clearly something amiss and refused the transaction! Another conversation with the bank (amidst lots harrumphing from the lengthening queue behind me) sorted it all out.

 

[Parisien]

I spoke to my bank before hand, asked them to put a note on my account saying I was buying a car the next day...a Saturday for X 1000's, so when the call centre checked it was all obvious and clear to them to proceed with out hicccups


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[lozcb]

Cash is king , luv getting me greedy mits on it if only for a short while , or untill i pay it in the bank, but then im old school , not many people nowdays walk round with 3/400 quid in their wallet , lovely feeling , doesn't seem the same using plastic debit or credit



regards loz

 

[Parisien]

It is a primitive feeling.....the mucky luca in your mit....espeically if you don't normally handle cash........rasies the adrenalin output though once you go over the £20K make in my experience.....


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[lozcb]

Whats the most cash anyone has ever handled and counted in a single transaction , my record was £84. 500 not my own wonga unfortunately , my best mate from Worthing used to own a 2 petrol staions and whilst he was away on Holliday back in the eighties , he asked me to hold the cash for him to pay for his petrol deliveries during the crisis, apparently they oil companies would only deliver for cash or if paid for in advance


regards loz

 

[Brendan]

Thanks for the advise. Its bit more difficult if you are buying from a private seller. As the person has the same bank as myself I can transfer the £ to same bank then go to the bank and transfer to his account, this seems the quickest.

Bit long winded though.

 

[Parisien]

Thats a nice sum Loz....bet you felt everyones beady eyes on you as you carted it about.....


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[lozcb]

Thats a nice sum Loz....bet you felt everyones beady eyes on you as you carted it about.....


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Sort of circles i used to move about in Frank it didn't pay to advertise the fact that i was holding on to that size wedgy, can remember getting it out on several evenings before i had to hand it over and just looking at it and counting some of the piles


great days

 

[Parisien]

....sweat gathering on your forehead.........in case you woz mugged..........did you slide bed up against bedroom door?!




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[Maser Sod]

Cash is king , luv getting me greedy mits on it if only for a short while , or untill i pay it in the bank, but then im old school , not many people nowdays walk round with 3/400 quid in their wallet , lovely feeling , doesn't seem the same using plastic debit or credit

regards loz

I had 900 quid in my wallet today, plus about 100 dollars. Please don't mug me at the next meet.

 

[Felonious Crud]

As an 18-year old part-timer at Texas Homecare (one-time DIY superstore) I was tasked with taking 40 grand - a busy Saturday's cash takings - down to the bank in the store manager's company Escort 1.4 (a Ghia, no less!). Was tempted to make a break for the border, but such options are limited in Essex. (Going on the run in Suffolk seemed a bit lame.)

 

[Parisien]

...gee I dunno....add in £45 for the escort.......sort of a deal breaker at the time am sure.....


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[safrane]

Remember the first 'Lifer' I managed...he killed a petrol station owner with a shot-gun for the sum of £300, took the poor buggers head off. Sad how life was worth less than a week in Blackpool to some.

Never carried a big wad since!

 

[Paulm]

Couple of years ago
I (a/c department) missed paying staff wages, via internet.......had to go to bank and draw £65k out.....well £64 and a bit....walked around all the banks in Chester paying wages out of a plastic bag !
Made me feel good when finished, girls in bank were horrified to think I was going to do something so stupid.
Staff were paid on time......so all ended well.

 

[Felonious Crud]

...gee I dunno....add in £45 for the escort.......sort of a deal breaker at the time am sure.....

It was only a 1.4... Suffolk's finest would have caught me in moments!

 

[conaero]

The most I have had to folk out for was the GTS and I went into the local bank after I had inspected the car and agreed the deal and did a CHAPS transfer. Now they said it would probably go through within 2hrs, but it could take all day.

So I sets it up and fills in the forms (you need your passport etc) and the clerk said thank you and the funds would be transferred shortly.

I asked, surely you have to do this via computer and the clerk explained that he would do it at some point.

So I says, no, I want it done now and he begrudgingly put it through, took 10mis or so.

I drove back to the dealership, about 5 miles away and they already had it. it was not the same bank neither, I think it went Lloyds to Nat West.

So the reason it could take all day is the lazy arsed clerk leaving it on his desk all afternoon, so go CHAPS and insist its put through whilst you wait.

Safest method.

As for cash, had about £8k for a job I did. Stuffed it in the antique safe at work and it stayed there till I found something to buy, a rally car, cash is a pain, but does give you that nice grubby feeling of a gangster!