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Paying for a car

alexlyons · 2011-12-09 23:28:29

Buying a car through a private sale at €5k on the button. What is the normal/best way to pay?

09-12-2011 11:28pm

#1

alexlyons

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Buying a car through a private sale at €5k on the button.

What is the normal/best way to pay?

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#2 09-12-2011 11:34pm

Seth Brundle

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Johnny Cash or in-bank transfer

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#3 09-12-2011 11:35pm

alexlyons

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would that much cash not be a bit much?

was thinking a bank draft myself

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#4 09-12-2011 11:35pm

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Cash or bank draft. Always a tad risky carrying €5000 cash about when other folks know admittedly, common sense etc etc to be employed.

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#5 09-12-2011 11:50pm

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Cash is king, the budget I have set aside for my next car is closer to 8k and it will be handed over in cold hard cash.

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#6 09-12-2011 11:53pm

Chimaera

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I'd go with cheque for a private sale in particular. If the car turns out to be dodgy, you can stop the cheque.

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#7 09-12-2011 11:55pm

Seth Brundle

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If they seller has any sense, then they won't accept a cheque.

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#8 09-12-2011 11:59pm

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kbannon wrote: »

If they seller has any sense, then they won't accept a cheque.

Indeed. Most shops don't accept private cheques, with good reason.

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#9 09-12-2011 11:59pm

mickdw

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Chimaera wrote: »

I'd go with cheque for a private sale in particular. If the car turns out to be dodgy, you can stop the cheque.

And the seller will really hand over the car and sign the transfer for a small piece of possibly worthless paper.

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#10 10-12-2011 1:18am

barura

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For 5k, I would do it in a bank, for security and the simple fact that carrying 5k around is just dangerous.

Get something signed to show that you've paid for the car and that it sohuld be in your name, etc...

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#11 04-01-2012 9:00pm

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An in bank transfer seems to be the best option, but that means you cant buy a car outside of office hours such as the weekend. And a problem with this is AIB have a limit of 5k when transfering to other accounts dont they?

I cant get time of work so it makes it awkward, im buying an 8k car and dont really want to have 8k in cash.

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#12 05-01-2012 2:54pm

Third_Echelon

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Bank Draft

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#13 05-01-2012 3:08pm

Gophur

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Third_Echelon wrote: »

Bank Draft

Any seller should not hand over the car for a Bank Draft. Banks will take 5 days to clear one of these too, 5 days in which seller will be unable to draw down the funds.

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#14 05-01-2012 3:10pm

Jimmy Bottlehead

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I had the same question a while back - http://www.boards.ie/vbulletin/showthread.php?p=74734842 covers it.

In short - meet seller in your bank, withdraw cash there with seller present, sign all docs IN bank, handover money and receive key, you send off forms. You can also make a photocopy of the form for the new seller.

Safe, quick, easy and recorded on video.

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#15 05-01-2012 4:31pm

pcardin

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Jimmy Bottlehead wrote: »

I had the same question a while back - http://www.boards.ie/vbulletin/showthread.php?p=74734842 covers it.

In short - meet seller in your bank, withdraw cash there with seller present, sign all docs IN bank, handover money and receive key, you send off forms. You can also make a photocopy of the form for the new seller.

Safe, quick, easy and recorded on video.

best advice so far. excludes buying over weekends though.

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#16 05-01-2012 5:52pm

Our man in Havana

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you send off forms

Uh, no. The seller sends the paperwork away not the buyer.

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#17 08-01-2012 5:16pm

Jimmy Bottlehead

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Aye, my mistake, got confused and thought this was the seller for some reason.

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