DannyW Posted October 24, 2006 Share Posted October 24, 2006 Just had a guy from Birmingham offer the asking price over the phone for my girlfirends golf which is for sale at the moment on autotrader. Dilema is that he hasn't even been to look at the car and has offered to send a bankers draft or any other method of payment that we like. And he will then arrange for the car to be collected from us. What method of payment (other than actual cash) is fraud proof? ive heard stories of bad bankers drafts being cleared at banks only to be cancelled at a later date. Please help, i need to call the guy back shortly. Link to comment Share on other sites More sharing options...
Mike Posted October 24, 2006 Share Posted October 24, 2006 Telegraphic Transfer from his bank to yours, goes straight into your account that day. Costs him £30 but if he wants it he'll do it. Bankers Draft still takes 5 days to actually clear although it is classed as cleared funds. Link to comment Share on other sites More sharing options...
colsoop Posted October 24, 2006 Share Posted October 24, 2006 Any method ? How about cash in hand ? Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 Telegraphic Transfer from his bank to yours, goes straight into your account that day. Costs him £30 but if he wants it he'll do it. Bankers Draft still takes 5 days to actually clear although it is classed as cleared funds. thanks, for that, how does one go about a telegraphic transfer? Link to comment Share on other sites More sharing options...
Mike Posted October 24, 2006 Share Posted October 24, 2006 thanks, for that, how does one go about a telegraphic transfer? He has to ring his bank and arrange it, he will need your sort code and account number and your bank branch. Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 Any method ? How about cash in hand ? Worried about that too actually as my parents recently sold a burger van through Ebay, half the cash that the couple who bought it handed over turned out to be fake (but really good fakes). Link to comment Share on other sites More sharing options...
colsoop Posted October 24, 2006 Share Posted October 24, 2006 Take it to the bank the same day and only release the car when the bank confirms the money is genuine. Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 He has to ring his bank and arrange it, he will need your sort code and account number and your bank branch. And it happens instantly? no waiting around for it to clear etc.? Link to comment Share on other sites More sharing options...
Mike Posted October 24, 2006 Share Posted October 24, 2006 And it happens instantly? no waiting around for it to clear etc.? It goes straight out of his bank and into yours, once it is set up there is no way of stopping it, takes about 2 hours I believe for it to appear in your account. Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 It goes straight out of his bank and into yours, once it is set up there is no way of stopping it, takes about 2 hours I believe for it to appear in your account. Thanks pal, just tried ringing him back but no answer, just hope it's not dodgy. Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 BACS transfer, is this ok do you think? Link to comment Share on other sites More sharing options...
Rayman Posted October 24, 2006 Share Posted October 24, 2006 Bacs will be fine, why doesnt he want to view the car is he a good distance away? Link to comment Share on other sites More sharing options...
Mike Posted October 24, 2006 Share Posted October 24, 2006 BACS transfer, is this ok do you think? Bacs takes 3 days as aposed to instantly that day, still safe though. Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 Bacs will be fine, why doesnt he want to view the car is he a good distance away? Yeah he is a good distance away, in Oldbury near Birmingham. He works for a car sales/finance company called ConceptCarCredit. His company are transferring the money via BACS to our account tomorrow which he says will clear properly by Thursday AM, he's arranging for the car to be collected either Thursday or Friday PM. Not sound too dodgy? Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 Bacs takes 3 days as aposed to instantly that day, still safe though. The guy just told us it would clear thursday is he paid tomorrow, is this not the case? Link to comment Share on other sites More sharing options...
Mike Posted October 24, 2006 Share Posted October 24, 2006 The guy just told us it would clear thursday is he paid tomorrow, is this not the case? Normally takes 2-3 days to clear (at least). I should explain I'm logged onto Mike's account but at work (a solicitors) I deal with this type of thing every day. BACS three days, CHAPS instant. Charlotte Link to comment Share on other sites More sharing options...
Rayman Posted October 24, 2006 Share Posted October 24, 2006 Doesnt sound too dodgy, id tell him when its ready for collection tho based on wether the funds are in your account or not. Dont let him organise it before its ready to go! I know how you feel tho, i was exactly like this when i sold my previous car! Link to comment Share on other sites More sharing options...
DannyW Posted October 24, 2006 Author Share Posted October 24, 2006 Thanks everyone. He's ringing tomorrow from work to arrange the transfer at which point my girlfriend will just confirm that he can't collect the car until everyhting has cleared fully anyway, if he doesn't like it then he can stuff it. Sorry for all the questions, it's just i'm wary of it as £15k is a lot of money to lose. Link to comment Share on other sites More sharing options...
Rayman Posted October 24, 2006 Share Posted October 24, 2006 Sorry for all the questions, it's just i'm wary of it as £15k is a lot of money to lose. Any money is a lot to lose, youre right to be on the catious side! Dont let him talk you round to having the car before its clear, its easily done, some people are born con men and will try talk you into it! Link to comment Share on other sites More sharing options...
DannyW Posted October 25, 2006 Author Share Posted October 25, 2006 The guy has now made a CHAPS transfer to my girlfriends account, am i right in thnking this should show in the account tomorrow morning? Can they reverse the transfer at all? i'm asking this as they want to collect the car tomorrow night. Link to comment Share on other sites More sharing options...
Rayman Posted October 25, 2006 Share Posted October 25, 2006 The guy has now made a CHAPS transfer to my girlfriends account, am i right in thnking this should show in the account tomorrow morning? Can they reverse the transfer at all? i'm asking this as they want to collect the car tomorrow night. Chaps is seen as cleared funds it cant be reversed. Takes 2 working days i think from what i have just read! Id definately want to see the money in my account before releasing the car. Has the gf decided on which new car to buy? Link to comment Share on other sites More sharing options...
jase_93tt Posted October 25, 2006 Share Posted October 25, 2006 I had a couple of Brimingham who wanted to pay by bankers draft once, when I said it would have to be wire transfer only, I never heard from them again...... Link to comment Share on other sites More sharing options...
DannyW Posted October 25, 2006 Author Share Posted October 25, 2006 Chaps is seen as cleared funds it cant be reversed. Takes 2 working days i think from what i have just read! Id definately want to see the money in my account before releasing the car. Has the gf decided on which new car to buy? Ive just done a bit of reading and have seen this referred to as a "same-day CHAPS transfer" and that is what the guy on the phone called it as well so hopefully the money will be in the bank tomorrow. She's decided on a Civic type R mostly because it is still as fast as her R32 (same 0-60 times) they are a lot cheaper to buy which means she can clear her finance and also it will be cheaper to run as it's only 2litre and i doubt it'll see more than 5000rpm when she drives it. Link to comment Share on other sites More sharing options...
DannyW Posted October 25, 2006 Author Share Posted October 25, 2006 I had a couple of Brimingham who wanted to pay by bankers draft once, when I said it would have to be wire transfer only, I never heard from them again...... I know people who have lost their cars through using bankers drafts, hence all the questions about bank transfers. Link to comment Share on other sites More sharing options...
Rayman Posted October 25, 2006 Share Posted October 25, 2006 She's decided on a Civic type R mostly because it is still as fast as her R32 (same 0-60 times) they are a lot cheaper to buy which means she can clear her finance and also it will be cheaper to run as it's only 2litre and i doubt it'll see more than 5000rpm when she drives it. Sounds good, i was gonna have one before the supra, may still get one in a couple of years if i need to downsize etc! Cool! Link to comment Share on other sites More sharing options...
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