UK Bank Transfer Franchised Dealer

knuth

Hey,

Looking to buy a car from a main franchised dealer in the UK. Dealer wants me to transfer the money in advance, 5 working days to be exact so that when I arrive the money will be in their account. If there's a fault in the car that I was not told about, they'll return my money.

Bit skeptical about transfering the money, they are an authorised dealer though.

Any advice?

listermint

lordlame wrote: »

Hey,

Looking to buy a car from a main franchised dealer in the UK. Dealer wants me to transfer the money in advance, 5 working days to be exact so that when I arrive the money will be in their account. If there's a fault in the car that I was not told about, they'll return my money.

Bit skeptical about transfering the money, they are an authorised dealer though.

Any advice?

These have great rates http://www.currency.ie/

id look there first

Anan1

Don't. I was in the same situation myself recently, and I declined to pay for a car I had not seen. Arrange instead to go together with a draft to their bank - the bank can verify the draft with the issuer while you both wait.

knuth

Certainly, an example would be:

It's costing me €15000 to transfer £11,850. Permanent TSB wanted €15,644

Oh, that's without commission too

knuth

Anan1 wrote: »

Don't. I was in the same situation myself recently, and I declined to pay for a car I had not seen. Arrange instead to go together with a draft to their bank - the bank can verify the draft with the issuer while you both wait.

These can take days to clear though, I plan on picking the car up and going.

listermint

Its not a huge deal transfering money. It is a registered dealership as you say and there is a paper trail. Goods and services my friend! Just make sure you get a decent rate. The banks have been shocking recently.

Anan1

lordlame wrote: »

These can take days to clear though, I plan on picking the car up and going.

Have another look at what I said.;)

And it is a big deal going through the UK courts to try to get the money back if it all goes wrong.

Robertr

Anan1 wrote: »

Don't. I was in the same situation myself recently, and I declined to pay for a car I had not seen. Arrange instead to go together with a draft to their bank - the bank can verify the draft with the issuer while you both wait.

Not really that easy as it can be very difficult for the UK banks to actually get a draft cleared. Most Irish banks don't offer this services as standard. You could be left sitting there with a draft in your hand that they can't clear. Especially with all the international draft scams going around these days.

I have done bank transfers without any problems on a number of occasions but would recommend that you get an inspection on the car first.

Anan1

Robertr wrote: »

Not really that easy as it can be very difficult for the UK banks to actually get a draft cleared.

It's easy for the banks to do it, it's just that some need a little persuasion. This should of course all be agreed before leaving home.

A bank transfer for an unseen car carries a (for me) unacceptable level of risk. If the OP wants to take the chance, though..

Darando

Not too clued up on this subject - but is it possible to load the money onto your credit card (assuming you have one) and use that when you get over there (also simply ring the CC company before to let them know that you will be carrying out a transaction that day) - then pay it on that???

Not sure of rates but I recently got decent rate (granted it wasn't for €11,000)!!!

Is it possible to do this?

Anan1

It is, but the garage will want a couple of percentage points extra to cover the CC fees. The CC issuer will also charge you 1+% for non-euro transactions. I've checked it out, it's way more expensive.

digitaldr

I bought a car recently with an AIB bankdraft from a UK Ford main dealer. The salesman phoned the AIB branch and they got him to fax them the draft - all done in < 10 mins.

andysheehan2003

lordlame wrote: »

Hey,

Looking to buy a car from a main franchised dealer in the UK. Dealer wants me to transfer the money in advance, 5 working days to be exact so that when I arrive the money will be in their account. If there's a fault in the car that I was not told about, they'll return my money.

Bit skeptical about transfering the money, they are an authorised dealer though.

Any advice?

i went over last week and bought gt tdi golf cost me £7800 had 800 cash the rest on a draft. the garage had told me in emails that they would not accept cash. had awful trouble with the draft over there trying to get it to clear for dealer to release the car. tried to do a credit transfer but this would have taken 3 days supposedly. draft finally cleared after staying an extra night and changing ferry booking twice.lot more money and hassle.

my advice to anyone going there is fly over, view the car, do a deal with the garage leave a deposit to secure the car fly home that evening. then do the credit transfer for the balance (which i was told takes 3 days) when the dealer verifies that money is lodged in their account fly back over to collect the car.

would defo do it this way if i went over again, even line up 2 or 3 cars to view on the day that way you could get a better deal then having just 1 car to view.

knuth

Where's theres a saving, there's always a hassle You know what, €100 return trip to view the car. Think I'll do just that.

rigal

digitaldr wrote: »

I bought a car recently with an AIB bankdraft from a UK Ford main dealer. The salesman phoned the AIB branch and they got him to fax them the draft - all done in < 10 mins.

+1

I've done this too. Efficient and painless in my experience.