V1J4Y (VJ)

Sell car to overseas buyer - how to manage payment?

Recommended Posts

Hi All

My IS-F is up for sale and I have had lot of interest from the continent. Not much from the UK overall. It looks like Japanese sports cars sell very well and for quite a decent value out there. 

A chap from France is willing to come over to buy the car, this is fine but the main thing is how to deal with the payment?

I have proposed Transferwise but he has another solution in Paycar.fr. Looks fairly genuine and is an escrow service, instant transfer of funds. The price is too high to realistically consider carrying that large sum of cash. 

Does anyone have any experience or how best to ensure the payment is secure in this situation please? International bank transfers take a few days, can be reversed and also hit with quite high fees.

I guess the risk could be on either side, that the buyer starts the transaction before coming over...risk in not seeing the car yet or then the buyer is here and I can't confirm transfer of funds. 

 

Any help or views would be welcome, thanks in advance.  

Share this post


Link to post
Share on other sites

Hi I don’t have any experience in the field but what about PayPal?


Sent from my iPad using Tapatalk

Share this post


Link to post
Share on other sites

Paypal has massive fees, so probably not an economical aproach. And can also be reversed if a dispute.

If you have an escrow service make sure that can't be reversed as there is some risk Patric with a translation in two languages

Share this post


Link to post
Share on other sites

so how much real cash would be involved ?  if it's under £10,000 equivalent per person travelling to the UK then why not just bring the readies ?

Malc

Share this post


Link to post
Share on other sites

I'd be very careful. Cars I've sold in the past also generated lots of interest from overseas, also offering really good prices. All turn out to be scams.

Share this post


Link to post
Share on other sites

you want to be 100% sure you get the money and he gets the car. Any European bank offers instant transfer service. This will cost a bit more but the money will be transferred from his bank into your account within 1 or 2 hrs. I suggest he inspects the car makes the transfer you both go for lunch and when your bakn confirms money in you release the car. Alternative is he takes the funds in the UK from his bankaccount in cash. If he has the money that will be possible maybe he will have to inform the local bank that is what will happen as he wants to buy a car but it is possible. he can than hand you the cash. Better even you both walk into his bank and he instructs his bank to transfer the sum into your account, you will get a confirmation and if this is done with instant service your bank will receive the money instantly.  

be very careful with any internet based money transfer service! 

 

  • Like 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Club Hybrid Poll

  • 380 Hybrid Reliability

    1. 1. If you were to consider buying a Hybrid model over 5 years old, would you be worried about the reliability of the Hybrid system?


      • Not really as Hybrid systems are always reliable
      • Not if it had a Manufacturers Warranty on the Hybrid system
      • I would not buy a Hybrid model over 5 years old