Paying for a used car

[Waldo]

Planning on getting a car; if I get one private, what are the possible ways to pay?

 

I'm expecting to pay around £3k, so a little concerned over carrying that amount in cash. Also, my bank is online, and they don't have branches, so getting a big chunk of cash out of my account, may not to be easy.

 

Any other options aside from paying cash?

[Andy]

You have a couple of options:

 

1) Transfer funds by Faster Payments to the seller's account. However be careful as a Faster Payment cannot be undone. So don't pay until you're absolutely sure you want the car and you trust the seller! They probably won't let you drive away until they have the money though. Typically Faster Payments take 2 hours but they can take up to 48 hours.

 

2) Bankers Draft - if the seller will accept one and if you can get hold of one, bearing in mind your bank is online.

 

How does the seller want you to pay? They might have the same concerns about accepting £3k in cash as you do.

[chrome]

Paypal maybe? Then you still have a little protection...

[Allen]

Planning on getting a car; if I get one private, what are the possible ways to pay?

 

I'm expecting to pay around £3k, so a little concerned over carrying that amount in cash. Also, my bank is online, and they don't have branches, so getting a big chunk of cash out of my account, may not to be easy.

 

Any other options aside from paying cash?

I'm, confused.(it doesn't take much, lol)

If they don't have branches how do you normally get cash?

Is there a littlle slot on you PC that spits out money?

I want one!!!

[Waldo]

Thanks for the advice chaps. I phoned my bank (smile) and they're connected to the co-op bank, so can use co-op for getting cash or bankers drafts etc.

 

Love the little slot in my PC spitting out cash idea!