Hi All,

I've agreed to buy a second hand car from a private seller I found through an auto scout add. As my bank (Postfinance) don't do banker's drafts, it looks as if the only method of payment would be by bank transfer directly into the seller's account, which can take 1 day.

I don't particularly like this method, as i could make the transfer, and the seller could 'disappear' with my payment, and the car. I'd judge this to be an unlikely event, as i know where he lives, by its still not as secure as handing over a banker's draft for exchange for the car, keys, and documents, as i'd do in the UK. Especially as its my hard earned savings at risk! So my question is two fold:

1) Does any one know of a payment method where i could be secure?

2) If i do make a bank transfer, do i have any possibility of recovering the funds if the seller 'does one'

Many thanks!
Jamie

cash is how many do it. Yup a big stack of 100's to the dealership (or 1000 chf bils)

Cash is what you want - I remember buying a car for 9800chf with just 10 notes - getting 1 note change!!

If you are buying from a garage it maybe worth getting them to do the leg work for you in terms of changing ownership.

Get a quote for insurance - agree to it - and then give the details to the garage - that will make sure you can pick up your car and drive away - it really is that simple.

As said before, cash is king. It's amazing how thin a pile of 1000 chuff notes will get you a tonne-and-a-half of metal.

I would suggest going to the Office Cantonal des Automobiles et de la Navigation (or equivalent) to sort out the grey registration document and license plates together, and then you can drive away with the car and leave him the cash.

If you have concerns about the car, you could always arrange to stop at a garage for a check by a mechanic first.

I agree with the others. Whenever I bought a car from a private person I paid in cash. When I sold privately I wanted cash as well.

Thanks to the 1000-Francs bill it's actually quite convenient to do. No need to deal with hundreds of small bills.

I never actually thought of cash! Its tempting to pay with a big wodge of cash. Bit scary carrying all that around though! Might see if the seller is willing to go to the bank with me to do the transfer. That might work!

If you are going during banking hours (and both happen to bank with the same firm) you can both go in with a maestro card and say that you want to transfer money from one person/account to another. My girlfriend and I have done this a couple of times.

This would be post finance to ZKB. I was recommended postfinance when i re-located here - so far nothing but hassle, as they don't give you a Maestro card! Makes it a pain trying to pay in restaurants. I guess they could give a payment confirmation over the counter there and then, which should be a good enough guarantee.

Recommended by whom? the postman?

Another vote for cash here, bought my first car here that way from a private seller. One of the scariest few hours of my life, carrying that around, but then it's a straight swap - cash for keys. Take the usual precautions - make sure you have the full name, address and contact details of the vendor so that you can claim on their liability in the unlikely event of anything going wrong (which was the official advice to me back then from the TCS when I rang up to enquire about an independent (and they said unnecessary) car inspection.

You have far more chance of being mugged whilst NOT carrying cash than when you do, i presume you go out regularly without large amounts of cash ! It seems the case that you carry cash rarely so why are you likely to lose it or be mugged ?

You will certainly be more careful, probably put the money in to a pocket seccured with as zip or a button.

Providing you don't tell all and everybody that you have XX thousand Chf's with you, why would anybody mug you ?

What other use do Chf 1'000.-- notes have if it's not for paying for things in cash ?

Don't be scared, it's pretty usual to pay cash in this type of transactions and don't know anyone who ever had problems.
One time i was at a house auction sale with 3 briques(=100*1000 CHF) in my jacket pockets!

Yeah, cash seems viable. Its an irrational fear of loosing the money that makes it unappealing. I do rememer that a long while back my brother lost a months wages in cash from his part time job in M&S because it fell out of his back pocet. Gutted is the word. Funny, he now works in finance.

cash all the way.

I'll always remember seeing this guy buying a car from my parents when I was a wee lil kid. Leather briefcase, a couple tools inside it to remove something from the car, and a fat stack of cash. Impressive, but the most tangible form of money if one doesn't take into account deflation

Bankers draft and bank transfers are the only other good options.

Anything like maestro transfers, western union(ah!), personal checks etc should be avoided.
From the possibility of there being a financial issue somewhere along the line, to extra incurred fees(looking up relevant information wouldn't hurt if that's the route you intend on taking) cash is the most hassle free option.