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So you're selling your car, the buyer initiates the bank transfer, and the two of you hang around in a coffee shop for a few hours waiting for it to clear? Or
by sliverstorm 11y ago
So you're selling your car, the buyer initiates the bank transfer, and the two of you hang around in a coffee shop for a few hours waiting for it to clear?
Or do you actually let them drive off with the car before the transaction clears?
- vertex-four 11y agoIn the UK, bank transfers take seconds, thanks to the Faster Payments System. I assume other places in Europe have similar.
- Someone1234 11y agoI said up to a couple of hours, not a "few." And the point is irrelevant as here you now need valid insurance and road tax to drive off into the sunset which itself can take a couple of hours. So private or commercial sale is often a "pick up the next day" kind of affair.
- sliverstorm 11y agoMy apologies, at least where I live "a couple" is basically the same as "a few", 2-3.
- aembleton 11y agoI bought my last car (£6,000) with a debit card. I guess, once it was approved by my bank that was it. I gave them my address details so that they could update the DVLA (Government agency that deals with cars) so that I became the registered owner of the vehicle. I think that was it.