Bank transfers..

Hi all,

i am thinking of buying a trailer for about 2 grand. The seller wants bank transfer as payment. How do i make sure that i do not do the bank transfer only for them to drive off with the thing and me having no means of getting the money back??

How do you all pay for expensive things??

john..

I assume that you're going to pick the trailer up?...... if so why not just pay a small deposit and the rest when you do

Can you use Paypal for this ?     

Paypal accepts your payment  .....  instructs the seller they  are holding your payment .... seller hands over goods ...Paypal pays seller .   

I would send them a small amount to check the correct details etc, then send the balance using my phone app when I go to collect.

if they won’t agree to that then maybe don’t go ahead

get it onto your vehicle first?

or if you dont trust them that much, dont buy it?

Evans Electric said:

Can you use Paypal for this ?     

Paypal accepts your payment  .....  instructs the seller they  are holding your payment .... seller hands over goods ...Paypal pays seller .   

Click to expand...

PayPal costs 

Personally I’d recommend you using a credit card as this protects you. 

apprentice87 said:

Hi all,

i am thinking of buying a trailer for about 2 grand. The seller wants bank transfer as payment. How do i make sure that i do not do the bank transfer only for them to drive off with the thing and me having no means of getting the money back??

How do you all pay for expensive things??

john..

Click to expand...

Back in the good old days it would be a building society cheque..

i.e. you get cheque written out by your building society..

Physically hand it over once you have the trailer..

Can't remember exactly what the reason was..

But building society cheques were more reliable than a bog standard bank cheque..

(couldn't bounce as easily or something?).

:C

SPECIAL LOCATION said:

But building society cheques were more reliable than a bog standard bank cheque..

(couldn't bounce as easily or something?).

Click to expand...

I remember that ,   I think the building society was guaranteeing the money was actually there  , where a normal cheque could bounce . 

SPECIAL LOCATION said:

Back in the good old days it would be a building society cheque..

i.e. you get cheque written out by your building society..

Physically hand it over once you have the trailer..

Can't remember exactly what the reason was..

But building society cheques were more reliable than a bog standard bank cheque..

(couldn't bounce as easily or something?).

:C

Click to expand...

Or you went to your bank and got a Bankers Draft (Bank cheque) to pay the seller as the goods were handed over

These days I think it has all gone electronic, a couple of years ago a mate of mine who lives in Tenerife asked me to look at a vehicle he was looking to buy I went to the dealers and the vehicle was ok with a few small issues they would sort so I brokered the deal with phone calls to my mate in Tenerife, I was given a list of details of how they would accept payment and the maximum values they would accept for each payment type listed

If you are spending so much on a trailer I assume you are looking at something like an Ifor Williams, just make sure you check the chassis number, it will have one if it hasn't walk away. There is usually one on the drawbar that is highly visible, this is the one they usually grind off if it's pinched. There are others that are not as well known and these are the ones the police look for if they suspect it's stolen.

If they cannot produce a document such as a receipt with the serial number on, or the number doesn't match the trailer number, or the trailer hasn't got a number then walk away. Hundreds of these get pinched each year and if you are unlucky enough to buy one the police will take it off you and you've lost your money.

I forgot all about this post!!!! Was only about a few minutes ago. 11-20pm on wednesday night that i got a whole bunch of emails saying i had all replies!!

Thank you all!!!

I never did buy a trailer in the end.. I would rather paypal, but only an idiot accepts it. I could buy a lathe off you say, then tell paypal that i never recieved it, and automatically get the money back. If YOU have not got electronic proof of delivery i will win every time...

Most expensive thing i ever bought i paid for by bank transfer, but that was to a well established firm. Even so, in the bank they read me the riot act and told me that the onus was on me to make sure everything was ok and that i had given them the right account details to pay into. They said that in view of the amount of money, that i had to sign a special document all to do with money laundering and stuff. That was £15,600 for a digger!!

john..