How to pay for a horse

Pippity

Pippity

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Not in the abstract - in the specific, getting-the-cash-to-the-seller sense!

Cash? Bank transfer? Banker's draft?

What are people's experiences and preferences?
 
HeyMich

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An envelope stuffed with used fivers... then watch them count them all and lose count and start again! Only joking...

Pay online (if you have wifi/4G) with them standing next to you and get them to witness the payment and account details. Then get them to log on to their account and check payments pending. Works well, and no need for extra bodyguards as you walk out of the bank with all your hard earned money in an envelope!

Oh, and always get a receipt, whether paying cash or online.
 
blitznbobs

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I always pay cash ... I was stood next to a bloke the other day who was withdrawing 40k and he told the cashier he had just bought a horse .... I really really wanted to ask him what he’d bought - but thought it was probably inappropriate so resisted the temptation. And I always take a receipt with me and make the vendor sign it.
 
Pippity

Pippity

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blitznbobs said:
I always pay cash ... I was stood next to a bloke the other day who was withdrawing 40k and he told the cashier he had just bought a horse .... I really really wanted to ask him what he’d bought - but thought it was probably inappropriate so resisted the temptation. And I always take a receipt with me and make the vendor sign it.
Click to expand...

If my possible one passes the vet (tomorrow - eek!), it'll be a LOT less than 40k!
 
Alibear

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It depends, private sales have been cash, from breeder it was invoice and pay via bank transfer. I recently brought a 2nd hand trailer via private sale and did the online banking transfer on site with the seller, it was so quick to go our of my account and show up on hers.
However I did have to setup a £10 payment to seller 24+ Hrs in advance so that I could make the bigger payment on the day.
 
HappyHollyDays

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I paid a deposit in cash in return for a receipt signed and dated stating full price less deposit and cost of saddle. On completion of satisfactory vetting I paid by BACS and arranged transport. Horse arrive with saddle as agreed.
 
Bernster

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A good question! I’ve done bank transfer but it’s been to people who had established businesses and locations, but I suppose it’s entirely possible to be scammed that way. Fortunately not been an issue for me so far! I like the idea of the immediate transfer when you are there and then they check it’s been received but my bank often says it could take a few days to transfer.
 
blitznbobs

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Bernster said:
A good question! I’ve done bank transfer but it’s been to people who had established businesses and locations, but I suppose it’s entirely possible to be scammed that way. Fortunately not been an issue for me so far! I like the idea of the immediate transfer when you are there and then they check it’s been received but my bank often says it could take a few days to transfer.
Click to expand...
MY bank often says ‘it’s fraudulent ‘ and stops all my transactions if I try to make a big payment I would hate this to happen when picking up a horse
 
JennBags

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Last time I bought a horse I paid by bank transfer, what a disaster that was, as it was a new payee and a high amount, they passed it onto the fraud department for checking. I called my bank when I made the transfer as I thought this might happen, and they said it had been sent to the other bank - the seller called her bank and they said they hadn't seen it. To cut a long story short, after about 4 hours they eventually released it but we had a very long drive back home to Sussex from Wales, and got back home about 10pm! If there's a next time I'll try to pre-organise it with the bank.
 
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I had a problem with bank transfer when paying for my 3.5 lorry (like JB probably a fraud check). The transfer took 24 hours to appear, neither sending or receiving bank could say where the money was! Very stressful. Thankfully i knew the seller, and was local, but it delayed me picking up the vehicle for a day. I wouldn’t try to do a transfer on site for that reason. Great when it works immediately, but a nightmare when it doesn’t.
 
JulesRules

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Ask the seller how they would like to be paid. I would have preferred bank transfer which I can do from my phone in seconds, but Rory's seller wanted cash (old school older seller).

If you do use cash, plan it in advance as for larger withdrawals you may need to arrange in advance with your bank..
 
HiPo'sHuman

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I had a bit of a drama paying for my new boy a couple of weeks ago; hadn't had chance to nip and get cash out so checked that bank transfer was ok, yes so all good. Got to the stud and my phone had died (my in car charger is temperamental and I hadn't realised it had stopped charging whilst the sat nav ran the battery down!), had to borrow a charger...then when the phone finally came on, I had no signal so had to connect to their wifi. Felt like a prat! The stud is in the middle of nowhere but I'd had 3/4g last time, had changed service provider since my last visit though. All ended well except for my being embarrassed!

To answer the question, cash is king to a lot of people. Just ask the seller their preference? I've paid cash/bank transfer for any of mine.
 
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Hanno Verian

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Online payment, but do a test payment of £10 the day before and get them to confirm that they have received it and at what time, then compare the receipt time to the send time and you know if its going to be instant or take upto 4 hours.

Don't use paypal the fees are astronomical.

I've done it from work with my trainer standing by to load him into the trailer the moment the seller confirms receipt....
 
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