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Paying for a car - private sale

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  • 17-06-2021 3:41pm
    #1
    runningbuddy
    Registered Users Posts: 1,058 ✭✭✭


    Hi folks. Am buying a car private seller. what is the best way to pay? Could do cash but not sure how I feel about carrying €7K around :eek:. Bank transfer, Bank draft? do these incur charges?? thanks folks


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    #2
    User1998
    Registered Users Posts: 5,937 ✭✭✭User1998


    They don’t incur charges but the seller will want the money in their account before they let you drive away in the car. Unless you are both with the same bank it will take a few hours/days. Revolut is handy if yous can do that but cash is king in this situation

    If you don’t feel comfortable bringing cash right away you should view the car with an empty pocket and then once your happy with the car and the seller then go and get the cash


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    #3
    colm_mcm
    Registered Users Posts: 73,388 ✭✭✭✭colm_mcm


    Revolut is the job if the seller is on it.


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    #4
    ineedeuro
    Banned (with Prison Access) Posts: 989 ✭✭✭ineedeuro


    Revolut


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    #5
    [Deleted User]
    Posts: 0 ✭✭ [Deleted User]


    Recently just purchased a car, different banks - I went in and got a bank draft done in and handed it over when I got the keys.

    If you are not the same bank a lot of people will want either 50% before you get the car or a transfer ahead of time which I am not comfortable doing. Remember also most banks will let you transfer 5k through the app you'll need to bring the remainder in cash or do a seperate transfer over the phone.


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    #6
    zg3409
    Registered Users Posts: 6,596 ✭✭✭zg3409


    If you want to withdraw high amounts of cash from a bank you normally need to ring ahead as 90% of the cash is in time locked safes. If you ring ahead they take some out ready for you. You often need ID in addition to bank card and pin. Even better if you bring seller to bank with you they can verify cash is not fake or at least cane from bank, similar with draft, less likely to be fake if they see you with it.

    If you are both with same bank, electronic transfers happen sane day but often 5000 daily limits without going into branch.

    Be very wary accepting drafts from strangers. If you lodge them the money will go into your account but a week or two later the money can be reversed if the draft is found to be faked after it is checked with issuing bank. Lots of scams online where they post you a draft for too much and ask you to sent back the balance, for cars they want delivered, or rental accomodation etc


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