Paying For A Car I Haven’t Seen

[enfable]

Morning all,
I am thinking of buying a car that is in Scotland and almost 400 miles away from me.
I have looked at the pricing for a pre-purchase inspection and also transporting it to me as it’s not possible to drive there and view it under the current restrictions. If the inspection is satisfactory and I wish to proceed with the sale what would be the best way to go about paying for it? I am concerned about paying the money without having the V5 at the same time. Is they a reliable service that can mediate the transaction that anybody knows of?

[Tuvok]

Is it a private sale or through a garage?

[JennieRobinson]

I would consider paypal. As long as the seller has an email address they can use it and paypal allow you to retract or dispute the money within 180 days of purchase. Obviously read their small print though.
TBH there is always risk though. Good luck!

[ToraToraTora]

If you can pay with a credit card, then you can dispute it later with the help of your cc company. If it's all ok you can pay it off when due.

[ToraToraTora]

paypal would be better but the seller will probably object because of the fees.

[enfable]

It’s a private sale. They have agreed for me to arrange for a pre-purchase inspection. Their story seems to make sense but obviously I don’t want to pay with it getting the V5 at the same time. I could ask if they would accept a holding deposit and then collect after lockdown but I think they’d want the money in full or sell to someone else.

[davebro]

The are number of escrow services offered by banks & independent firms. Just search "escrow". They will hold the money as an intermediary until you tell them to release it. You would need to determine/compare costs. And the seller would have to agree the process.

[ToraToraTora]

ok then well you are taking a big chance. Almost impossible to get your money back. Who is doing the inspection?

[ToraToraTora]

Escrow is possible but the seller will probably not want that.

[ToraToraTora]

They may entertain this idea: You pay a non refundable deposit of say £250 and the balance when the car is delivered and you are happy. You limit losses and they are compensated if it's a wasted trip. I have experience of this from both sides. The seller could be selling a hunk of junk and the buyer could be a total time waster who expects an N year old car to be brand new. What's the car and how much? That may help me give you more information.

[enfable]

The car is only £6000 but it’s got the exact spec I’m after and is definitely below market value. A pre-purchase inspection is c£200 and transportation around £500.
I can’t see them taking a NRD for less than £1000 as it would cost them £500 to get it back.
I think I’ll get a PPI then leave a deposit if satisfactory and ask them to store until lockdown is over. However, they may want to sell it to someone that can lay and take it away sooner.

[Maydup]

Sadly I can't see anything in your solution for the seller.

Would it work if they sold it to you through eBay? They put it on the site for a fixed Buy Now fee, you buy it plus delivery and offer few extra quid for the eBay fee. It gets delivered with the V5 but if its not as described you dispute it with eBay. Maybe worth considering?

[Buenchico]

As has already been suggested, using an escrow service would seem to be the best way forward for you. If you do so though, make sure that you're using a legitimate FCA authorised company: https://conversation.which.co.uk/money/scam-watch-buying-used-car-escrow-service-auto-trader/

The firm is most definitely legitimate
https://www.transpact.com/default.htm
and gets very good reviews on TrustPilot (except from people who've clearly been trying to con people into buying something dodgy!)
https://uk.trustpilot.com/review/transpact.com

[barry1010]

How much below market value is it? If it is cheap, alarm bells should be ringing.
I really can't see a private seller being willing to wait an unspecified time for full payment, but you never know.

[Khandro]

Are you an AA or RAC member?

[Hopkirk]

Don't do it. There are plenty more fish in the sea.

[Hymie]

Perhaps you could get a friend to enquire about the vehicle – if the seller is willing to sell it to them as well as you – then you will know for sure it’s a scam.