How do pay for car?
Buying a car is an important event for every car enthusiast. Buying a car from your hands is a real quest. There is always a risk of getting caught by a fraudster, and he can also act as a seller and a buyer. Even those who are accustomed to changing cars frequently or making a purchase with subsequent resale should be aware that payment can be made in several ways.
The car can be purchased for cash, through a bank or with a plastic card. We will not consider payment in the salon in detail, but the purchase from the owner or intermediary must be studied in detail.
Cash – no overpayments, but risk
Many shoppers prefer to pay in cash for several reasons. Firstly, there are no commissions (bank, intermediary, credit interest). Secondly, you can keep the real amount of the transaction secret if the parties agree on this point.
Despite the popularity and seeming simplicity of the transaction, paying for a car in cash is a risk. But it can be minimized by taking all precautions:
- Involve a third party or even persons in the transaction. Even if the seller inspires complete confidence, witnesses to the transfer of money will be useful. In case of any trouble, they can confirm the transfer of money. In addition, a fraudster may not risk acting in the presence of “extra eyes”;
- You need to choose the right place of transfer. It should be crowded, but not very walkable. For example, a shopping center will not be the best solution, and the reception of an expensive hotel with a good reputation or the lounge area is an excellent choice;
The parties must, together with witnesses, recount the money and assure that the amount has been transferred in full. The buyer must demand from the seller a receipt that he received the entire amount in hand, in cash.
Use the services of bank branches
There are also options here. Transfers from account to account are mainly used by legal entities. For individuals, there are other proven algorithms.
Through a safe deposit box
Not the most convenient method, but in many countries it is used quite often. The bottom line is this: the buyer comes to the bank and rents a cell, puts money there, after fulfilling all the conditions of the contract, the seller can take the money.
There are nuances in this method. When renting a cell, it is imperative to inform the bank employee why you are doing this. After all, he must issue separate access for two persons. When a buyer puts money in a cell, he is not obliged to indicate exactly how much, he is not even obliged to indicate that there is exactly money. Therefore, it is better to agree with the bank on a preliminary recalculation of money with an employee or a notary.
Letter of credit – convenient and simple
The buyer comes to a bank branch with documents and a sales contract. Opens an account and deposits money on it. He must indicate how exactly the seller can confirm compliance with all the terms of the transaction.
After the sale, the seller comes to the bank with a confirmation. The bank employee makes sure that all conditions are met and the documents are in order. In this case, he can transfer money to the merchant’s account or give it out in cash. It all depends on the conditions specified in the contract.
The last two methods are completely safe, but not free. As a rule, the sums of payment for services are small, so it is better to donate them than to risk and be left without money and without a car.
By plastic card
It should be borne in mind that it is unlikely that it will be possible to pay for such a large purchase as a car at one time due to the restrictions on transfers per day. And you also have to pay a commission for each transaction. Expensive, inconvenient, and not very relevant.