Paying cash to buy used car?

masterboy123

Is it safe to pay cash to buy a used car?
It's private seller and insisting on cash as he doesn't want to wait for bank transfer to complete.
Should I be asking for receipt in this case?

Henry Ford III

Cash is fine, just be careful if it's a large amount.

Receipt isn't needed for a private sale.

masterboy123

It's €4000/-
Isn't big amount?

Henry Ford III wrote: »

Cash is fine, just be careful if it's a large amount.

Receipt isn't needed for a private sale.

bazz26

€4k is plenty large imo. Ask to meet them at their bank and pay the cash into their account over the counter. Too many stories these days of people going to car parks to buy cars and having large amounts of money forcibly taken from them and no car.

masterboy123

Really?
But the problem is bank is closed on weekend and both of us working during weekdays.
That's why we decided to meet and I said Ok I will pay the cash. Dublin Airport looks safe place as it will have cameras and security.
What do you reckon?

bazz26 wrote: »

€4k is plenty large imo. Ask to meet them at their bank and pay the cash into their account over the counter. Too many stories these days of people going to car parks to buy cars and having large amounts of money forcibly taken from them and no car.

bazz26

In that case I would make sure to bring a few mates with you for company. Definitely would not turn up alone with 4k in my pocket no matter how many cameras are in the area.

masterboy123

Yea a mate is coming with me.
Hope that would be fine
Cheers

IHPhoto

Get his address and go to his house.

Qualitymark

masterboy123 wrote: »

Really?
But the problem is bank is closed on weekend and both of us working during weekdays.
That's why we decided to meet and I said Ok I will pay the cash. Dublin Airport looks safe place as it will have cameras and security.
What do you reckon?

There's a bank at Dublin Airport for foreign exchange. You can always say to him "it's for you to check that my money isn't forged!"

Or you could meet at a nearby bank.

If you're worried at all, trust your instinct. You don't want to buy something that's stolen and lose all your money.

biko

For 4k I'm sure the seller would be willing to meet on a weekday morning.
You can go look at the weekend and then finalise transaction another day.

A bank is best as seller is probably worried the notes may be forged or whatnot. Some banks has lodging machines. Not sure if one is open on a weekend, google it.

Dangel4x4

masterboy123 wrote: »

Is it safe to pay cash to buy a used car?
It's private seller and insisting on cash as he doesn't want to wait for bank transfer to complete.
Should I be asking for receipt in this case?

The news isn't exactly awash with stories of used car buyers having their money stolen.

The only sensible advice in this whole thread is:

IHPhoto wrote: »

Get his address and go to his house.

Meet the seller at his house, check the VLC to ensure details match.

Now you know where he lives... Hand over the money, job done.

If you're that distrustful of the private car-buying experience maybe you should stick to main dealers?

colincork

Henry Ford III wrote: »

Receipt isn't needed for a private sale.

I would have to disagree with you on this, any car I bought privately even if it was under 1000 I'd always get a receipt

OP, I'd suggest typing a letter confirming that you paid x amount for the car with registration number x and the ownership will be transferred into your name and get the seller to sign it.

otherwise, the seller could keep the log book and report the car stolen if this happened it would simply be your word against theirs

Henry Ford III

colincork wrote: »

I would have to disagree with you on this, any car I bought privately even if it was under 1000 I'd always get a receipt

OP, I'd suggest typing a letter confirming that you paid x amount for the car with registration number x and the ownership will be transferred into your name and get the seller to sign it.

otherwise, the seller could keep the log book and report the car stolen if this happened it would simply be your word against theirs

Nah. You will both have signed the VLC. Any time I've sold a car I've posted this to Shannon in the presence of the buyer.

I can see the benefit of a letter signed by both parties however.

PLUG71

Also do a history check and check the VIN numbers on the log book match the car!!
Make sure his address where you meet is on the log book also.

Zoney

There are some banks open on Saturday mornings, some Ulster Bank branches for example.

kjbsrah1

Make sure the transaction takes place where there are CCTV's.... to be on the safe side. If seller has a baseball cap to obsure his face from potential CCTV you need to be very cautious....
If seller arrives in a car make a note of the registration plate number...
Check the registration number plate of the car you are buying with the Gardai or one of those websites that do background checks...
The Gardaí may or may not be able to help - they can't actually tell you anything but if there is anything suspicious they may be able to do something.....
Check the chassis number - sometimes false plates match the type of car being sold but down the line the car is found to be stolen... If you are doing a check with the gardai or online make sure the reg and chassis match....
Don't go alone - any sum of money is too much to have stolen in the off chance that its a scam....
If in doubt or your instinct is telling you something when you meet the seller, listen to it and steer clear.... Good luck!

kjbsrah1

Incidently - there is a country wide scam going on about people who have bought cars and they are later seized by Gardaí.

You buy a car that turns out to be stolen you are down the money and the car as the car will belong to the original owner .....

Be very cautious.....

To be doubly safe, even if you think the whole transaction is totally Koser, try to sneek a picture of the seller as descreetly as possible so if anything happens down the line, you know who the culprit is (or at least you can actually give the Gardai something to work with).

Amazing the number of stories you hear about doing a deal in carparks, estates, etc and thats not much to catch a fraudster with.

Dangel4x4

Zoney wrote: »

There are some banks open on Saturday mornings, some Ulster Bank branches for example.

Not much good if you're an AIB or BOI customer...

This is a lot of drama over 4 grand, don't you think? You're not selling the crown jewels or anything.

Anyway, who is this whole bank thing for the benefit of?

Does the buyer want to hand over the money inside a bank on CCTV because he has trust issues? Why not bring a solicitor or notary or Peace Commissioner along to witness the deal too?

If someone was of the mind to rob him, surely they'd have an opportunity before stepping inside a bank?

Private sellers usually have mon-fri-9-5 jobs, and as such aren't available for daytime viewings. As a buyer you have to use your braincells and work around that.

Talk about over-complicating things....

kjbsrah1 wrote: »

Amazing the number of stories you hear about doing a deal in carparks, estates, etc and thats not much to catch a fraudster with.

Only a moron would buy a car in a carpark imho.

stampydmonkey

Dangel4x4 wrote: »

This is a lot of drama over 4 grand, don't you think? You're not selling the crown jewels or anything. /quote]

4k is a lot of money to a lot of people. He's right to be cautious

Dangel4x4

stampydmonkey wrote: »

4k is a lot of money to a lot of people. He's right to be cautious

The physical act of handing over the money is very unlikely to be a problem, specially if you meet the seller at his home (instead of a carpark as sometimes suggested) and satisfy yourself as to his identity.

If you don't have a certain level of trust in private sellers in general, you can always go to a dealer and pay for your car by credit card or bank transfer during the working week.

You are far more likely to be the victim of a fraud - buying a car that's still on finance or the like. But that can happen with a dealer as well as a private sale, can't it?

masterboy123

Thanks everyone for suggestion and advice.

The deal went well. Got the car now. Signed the logbook. Gut feeling said seller is a good and clean person. Hoping for the best in future. Enjoying the ride

Supergurrier

Dangel4x4 wrote: »

Not much good if you're an AIB or BOI customer...

This is a lot of drama over 4 grand, don't you think? You're not selling the crown jewels or anything.

Anyway, who is this whole bank thing for the benefit of?

Does the buyer want to hand over the money inside a bank on CCTV because he has trust issues? Why not bring a solicitor or notary or Peace Commissioner along to witness the deal too?

If someone was of the mind to rob him, surely they'd have an opportunity before stepping inside a bank?

Private sellers usually have mon-fri-9-5 jobs, and as such aren't available for daytime viewings. As a buyer you have to use your braincells and work around that.

Talk about over-complicating things....



Only a moron would buy a car in a carpark imho.

Seller knows notes are genuine.
Funds instantly go into sellers account.
Everybody wins and it's fast.

If somebody cba to take half a day off to spend 5k then they aren't a serious buyer imo.

nice_guy80

Offer to meet outside a garda station.
If they refuse, run a mile

Dangel4x4

Dangel4x4 wrote: »

Anyway, who is this whole bank thing for the benefit of?

Supergurrier wrote: »

Seller knows notes are genuine.
Funds instantly go into sellers account.
Everybody wins and it's fast.

A rhetorical question doesn't need an answer.

masterboy123

Already got the car.
appreciate your concern and suggestions.

Suggest me a good navigation GPS system please.