Purchasing a car at auction, safest way to pay?

samjames · 13-07-2019 11:43am #1

purchasing a car in the UK on Ebay and can pay the initial deposit of 500 by paypal but whats the safest method of payment of the remainder for 3500stg
Is bank transfer safe as seems most popular method

thanks

colm_mcm · 13-07-2019 11:51am

Seller may not accept a bank draft

samjames · 13-07-2019 12:29pm

colm_mcm wrote: »

Seller may not accept a bank draft

they take a bit too long to clear i think

colm_mcm · 13-07-2019 12:33pm

From their point of view, you’re some randomer from another country.

Have you the option to pay it all by PayPal?

dar_cool · 13-07-2019 12:34pm

Definitely don't do it by PayPal. Crazy fees and shocking exchange rate

elperello · 13-07-2019 12:35pm

If you think the seller is sound then cash is ok.

13-07-2019 12:36pm

The OP said bank transfer, not bank draft. Bank transfer would be easiest way to pay and it's usually paid next business day. I don't know what buyer protection there is when paying by bank transfer though.

samjames · 13-07-2019 12:37pm

colm_mcm wrote: »

From their point of view, you’re some randomer from another country.

Have you the option to pay it all by PayPal?

only small amount he accept as when the amount gets bigger the more paypal take of him to receive the money,

i am on ebay with 100% record and 350 FB but most expensive item i purchased was only 400 though, he has 22 but you cant go by that, youre never sure of anything

Del2005 · 13-07-2019 12:40pm

[Deleted User] wrote: »

The OP said bank transfer, not bank draft. Bank transfer would be easiest way to pay and it's usually paid next business day. I don't know what buyer protection there is when paying by bank transfer though.

Zero protection and if you send to the wrong person zero right for refund. You also have to send the money before you see the car, I know with ebay you have agreed to buy but if its a lemon they have your money.

For £3.5k cash would be the best option. But ask the seller what they will except.

samjames · 13-07-2019 2:26pm

dar_cool wrote: »

Definitely don't do it by PayPal. Crazy fees and shocking exchange rate

now im told if you put it as gift, no fees for seller but not sure

samjames · 13-07-2019 2:28pm

elperello wrote: »

If you think the seller is sound then cash is ok.

i did not see the car but he is a dealer with good feedback, was doing it all online through Ebay

elperello · 13-07-2019 2:42pm

samjames wrote: »

i did not see the car but he is a dealer with good feedback, was doing it all online through Ebay

So you are going to his premises?
He is hardly likely to be waiting with a couple of heavies to turn you over for 3.5k.
Just divide up the cash in three rolls and go for it.

If you decide to do bank transfer it is quick and simple but once he has it you own a car.
I did one on Thursday at 1pm and it was in his account at 11am on Friday.
No charges with Ulster Bank.

colm_mcm · 13-07-2019 11:22pm

samjames wrote: »

now im told if you put it as gift, no fees for seller but not sure

That gives you no comeback with PayPal.

newmember2 · 14-07-2019 2:03am

elperello wrote: »

..I did one on Thursday at 1pm and it was in his account at 11am on Friday...

That was Ireland to a UK bank?

elperello · 14-07-2019 12:17pm

newmember? wrote: »

That was Ireland to a UK bank?

Yes.

There is a premium service that guarantees next day but you pay for it.

I wasn't in a hurry so took the standard service.

Purchasing a car at auction, safest way to pay?

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