Buying a car

May be driving soon so being proactive.

I understand the withdrawal limits on my monzo are £400.
Lets say the car is £1,000

If I wanted to buy a car with cash would I have to withdraw the money each day until I have enough cash to pay for it ?
The other option would be to withdraw the full amount from my legacy, in the branch ?

I would feel much safer paying with cash and to be fair most ads on auto trader say cash on collection

How come?

There are lots of ways to get the cash out - not sure it needs a thread.


Just preference really . Less likely anything to go wrong as the person selling might deny they received any money via bank transfer. I don’t know anything about buying cars so I could be wrong

It wont be much more than £1000 anyway so cash should be fine.

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This sounds like a recipe for disaster. I’d seriously consider going via a dealership and paying via card (preferably credit). That way at least if something goes wrong you at least have some consumer rights.


Surely lots of people pay for cheaper cars with cash?

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Err, if this is your argument what exactly stops someone from denying they received any cash from you? Why is this less of a possibility? :man_shrugging:t3:

IMO very silly to make any large purchase in cash as you‘re left with no record of money changing hands.


You can get that limit raised by chatting to them in the app. They let me withdraw 5k once to pay my builder


Yep. Totally normal to buy a car with cash.

You can get them to email you just to say the cash has changed hands as a receipt. But generally stuff bought like that is taken as you see it.


Thanks. :+1:t3:

Still a while away yet but thought I’d do some research.

If it’s a trusted dealership then I’d happily pay via bank transfer

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Honestly I’d advise to do the purchase either at a dealer where you can pay by card/credit card (as mentioned above by others, it’ll be better), or if you’re doing it privately - do it electronically if possible.

Countless reasons to not use cash now, but an easy one for right now would be to minimise the contact of different things during the pandemic. Plenty of shops aren’t accepting cash for this reason.


A trusted car dealership

Yeah, good luck with finding one of those :stuck_out_tongue:


I wouldn’t bank transfer to someone I don’t know. You have no idea what else they do with their bank account and I’d rather not have the bank freeze my account after a suspicious transfer.

Lots of people pay cash for a car, and with the right paperwork and knowing what to look out for, it’s fine.

Handling cash for a one-off transaction is no more risky either. You just remember to wash/sanitise your hands after. You’re getting into someone else’s car after all, so you’d need to clean it and wash your hands anyway.


I withdrew £5,000 from Monzo a few years back. Essentially, you just have to plan in advance and withdraw the limit each day until you have your amount. Luckily, I could also withdraw £1,000 per day from Monzo using Curve to speed things up. I also came up to the problem of withdrawal limits on the actual ATM’s themselves, but it worked out fine.

I believe Monzo have temporarily raised limits in the past, but I didn’t bother with that.

Worth noting there’s also a separate limit over 30 days too. Although mine is £5.5k looking at it now so wouldn’t be a problem in this case.

In the scheme of things, buying privately by cash is as risky as it gets, just remember that during your thinking time. There’s plenty of reputable advice out there, though - do heed it.

And whatever else you do - don’t do it alone. Get a friend or a friend of a friend who knows the ropes and who understands the steps involved in buying privately.

And, don’t feel you must buy that first car you see. If the “friend” suggests you walk away, they are probably right.

Good luck


Thanks Graham.
I’ll be with a family member most likely :+1:t3:


Very wise. :grinning:

Other tips, if you can avoid buying a car that’s wet. Rain hides all manner of issues with the bodywork and paint. Get a receipt, even if it’s just written on paper. Remember to get the log book slip and also you’ll need an internet connection for the tax. Don’t buy a car from a private individual if they suggest meeting at a petrol forecourt or car park. You want the log book to match the address your buying it from.
And check the vin numbers are all present and match the log book. Look in places for different colours of paint, indicating crash repair damage too. You can also check online for the MOT.


Thanks for the Info.

I’d feel most secure using a debit card, however I’d assume privately sold cars are cash or bank transfer only.

But Like @j06 just said , I agree and would rather pay in cash …

I’ll have to see what’s available when I do come look for the car I want.

Would it be best to buy used from a dealership?

You would pay over the odds possibly by a few hundreds or thousands - depending on what you are buying.

Ask friends and family about anywhere locally.
Take someone who is not emotionally invested in you getting the car. If you know a mechanic seek there advice as well.

There are lots of good used cars but there are also lots of over priced about to go wrong and cost a lot!

Good luck with your purchase!