Ensuring
safe payment
Ensuring
safe payment is essential for both the buyer and the seller. Sadly there are fraudulent
bank notes, banker's drafts and of course fraudulent credit and debit cards around,
so prudent checks and procedures are simply both necessary and wise. There are
also a number of clever scams where sellers are pestered by prospective buyers
offering an advance payment by email - these scams tend to come from Nigeria and
East European countries and are often characterised by poor English. Now assuming
you have viewed the car in person and have agreed a deal, so what are the safe
ways to pay? Scams |
Paying
cash for a private sale
A buyer should hand
over the cash payment for the car in a bank so the seller can go the bank counter
and pay it in straight away. More |
Paying
cash with a trader
Unless a trader is
registered as a High Value Dealer or HVD with HM Revenue and Customs, payments
in excess of the Sterling equivalent of €15,000 cannot be accepted in cash
for cash amounts greater than the limit above. More
on HVD |
Paying
by banker's draft
Payment using a bank or building society cheque or draft has been a popular vehicle
payment method but sadly the fraudsters have been active. More |
Paying
by bank transfer
An immediate bank transfer can be made using the CHAPS system for a nominal fee.
Just a note of caution with bank transfers - this is an area for many attempted
scams. More |
Paying
by a credit or debit card
A trader will be concerned by
the card issuer's percentage fee and they will need to ensure that their
card account will permit a large payment. More
|
Safe
trading cautions and advice
See the Metropolitan Police and VSTAG advice. More |
