Buying a car with Bank Transfer (dealer)

Discussion in 'Motoring' started by DrPhil, Jun 10, 2015.

  1. DrPhil

    DrPhil
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    I've seen a thread about buying with BT for a private purchase, but I'm going to be flying over to England shortly to buy a car near Leeds. I have paid a £300 deposit by credit card, but the seller (Harrats) want me to make the full payment 24hrs in advance of coming over, so that the funds are cleared in their account.

    Is this a secure enough method? Obviously they are a big dealer so not just some chancer, but it still feels a bit odd paying the cash over before I've even sat in the car!

    I'd get cash, but Ryanair might look at me funny with £13k sticking out of my pocket...

    PS I've already haggled and knocked £500 off the asking price and got some extras included, which they have confirmed by email.
     
  2. un1eash

    un1eash
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    I'd be reluctant to hand over any money before seeing the car. I paid by debit card for my BMW £10k on the day, have also paid £11k before by debit card. Other car that I had already seen I sent two faster payments as my daily limit was £10k, one the day before and the other on the day.
     
  3. FZR400RRSP

    FZR400RRSP
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    Not a chance I'd do this.
    I've bought three used cars in the past year from large dealerships.
    All have been secured with a small deposit, then the balance is paid by debit card when I'm at the garage and seen the car.
    Debit card is the ideal solution, as no need for you to transfer funds and no need for you to carry a wedge of cash.
    It goes through just as if you were paying for anything else (sometimes a few security questions to answer on the phone and that's it).
    I've also bought new cars using debit cards.
     
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    Last edited: Jun 10, 2015
  4. rousetafarian

    rousetafarian
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    This, to the letter!
     
  5. Sloppy Bob

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    What FZR said.

    Bring some ID with you to confirm your identity incase the bank ask questions with a large transaction on your debit card. Driving licence and a utility bill, passport if your licence isn't a photo one.
    You may not need it, but better to be safe than sorry.
     
  6. DrPhil

    DrPhil
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    Thanks.

    Debit card makes sense, I'll get back to them and check. Shouldn't be an issue.
     
  7. AMc

    AMc
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    We had an issue with this buying a car from a dealer they said that the money from a debit card transaction can be reclaimed after the event - several months IIRC.
    We paid with a bankers draft in the end.
    Last car I paid £10K with chip+PIN no issue at all. I'd had to provide insurance details so they could tax the car and I don't think they thought I was going to do a runner.

    Might be worth calling your bank so they can put a note about the transaction when it pops up as unusual - esp. it you're going outside regular business hours.
     
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  8. mikeburns

    mikeburns
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    As everyone else has said debit card, with the transaction being in another country probably worth talking to your bank first, also the dealer will be limited to accepting a max of £5K in cash.
     
  9. DrPhil

    DrPhil
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    Not actually a different country, (currency wise).

    I'm in Ireland but my bank is Northern Ireland and sterling. I'll speak to the bank in advance anyway.

    Just got an email back from the dealer, debit card is fine.
     
  10. mikeburns

    mikeburns
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    What did you buy in the end?
     
  11. DrPhil

    DrPhil
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    Nissan Leaf.

    (don't tell FZR...)

    Going to England for it because I had a fussy spec requirement. Wanted the higher spec model, less than 10k miles but more than 4k miles. Wanted red.

    Not enough of them around to be that fussy in N Ireland, and they're too expensive in the Republic.
     
  12. mikeburns

    mikeburns
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    Long drive home? Or low loader?
     
  13. DrPhil

    DrPhil
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    Not that long really. 90ish miles from Leeds to Liverpool, take the overnight ferry to Belfast, then another 80 miles home.

    Could do a shorter ferry trip but more miles on the road but the timing works out well. Fly to Leeds at 9am on Friday, be home by lunchtime Saturday.
     
  14. Trollslayer

    Trollslayer
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    I've used debit card before, best solution.
     
  15. PSM1

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    Planned your recharge points then I take it. Another one joins the Leaf group. Get mine in just over a weeks time. What did you pay for it in the end? Age? Is the battery included or are you paying monthly fee?
     
  16. True Romance

    True Romance
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    Yep remember my brother brought a range rover a few years back and went in with cash, they were running around in a panic. Said they could be accused of money laundering.
     
  17. Monty Nine

    Monty Nine
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    I would pay some by credit card so the card company becomes jointly liable for satisfactory goods.

    Free protection for you.

    Credit not debit card.
     
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  18. Axl

    Axl
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    You don't even have to pay the full amount on c/c. Pay just the deposit on c/c and as long as it's between £100 and under £30k the rest of the amount's covered under section 75.

    e.g £300 deposit on c/c £15k balance on debit card. The whole £15,300 is covered by the credit card company under section 75.
     
  19. Monty Nine

    Monty Nine
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    Nearly right.

    The total purchase price has to be between £100 and £30000.

    Pay any of it, even £1 on credit card and the card company are jointly liable.

    I think
     
  20. Axl

    Axl
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    You may be right. Advice always used to be to play safe and keep any deposit over £100.

    The point is most people don't know that paying just the deposit on a c/c covers them for the full purchase price.
     
  21. Monty Nine

    Monty Nine
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    Yes.

    Up to 30k. So 31k not covered by this.
     
  22. DrPhil

    DrPhil
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    I'll only need 1 charge for each section of the driving.

    Got an April 2014 Tekna model, 5k miles, battery included, both 3 pin and standard charging cable included for £13,600.
     
  23. DrPhil

    DrPhil
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    And I already paid the £300 deposit by credit card.

    Will be paying the remaining £13,300 by debit card.
     
  24. DVD-Man

    DVD-Man
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    Its a bit daunting paying all that cash via debit card in the same way you use a card to but some coffees lol.

    Enjoy the motor.
     
  25. PSM1

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    A good price. That us below the GFV that is in my pcp deal which is what they reckon a 2yr old leaf with 20k on is going to be worth. I do not see me buying my car at end of pcp deal.
     
  26. Ned Senior

    Ned Senior
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    At Ikea in Warrington, right beside the M62, ( take the offramp just after you see ikea and Marks and Spencer, it is the junction after warrington one) Liverpool bound)Anyway in the ikea carpark are some charging points saw them last week matey
     
  27. gangzoom

    gangzoom
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    Let me know if you need to borrow my Ecotricty card. I haven't used in ages, and you can post it back to me :)
     
  28. DrPhil

    DrPhil
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    Thanks all.

    The dealer says that they will lend me a card for the trip home so I should be fine.

    Taking my dad along for a road trip too.
     
  29. Trollslayer

    Trollslayer
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    Will you have to sit there saying "Vroom!"?
     
  30. gangzoom

    gangzoom
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    Let us know how you get on, so far I've found EV drivers to be a very friendly bunch when meeting people at charging points :)
     

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