Anyone done this before?...

cormac07

Hi Guys,

I am buying a car in the UK at the end of the month and I am wondering how do i get my euro back there in the best way and value (Im talking €27000)? like do i use a bank draught or watever? Ive never done this before and am confused!

Any help would be greatly appriciated, Thanks in advance!

Cormac

galwaytt

Privater or Trade Sale ?

What I've done is buy a Sterling draft for somewhat less than the amount (say -1000), and bring 1k in cash - this allows you to haggle on the spot if there are any issues on the day

Scan the draft and email it to them, and the issuing bank details. Let them ring your Bank to confirm it's legit. Give them plenty of time to do this ( a few days).

Me? I wouldn't take a Draft from anyone without pre-clearing it. Too easy to forge, these days.

cormac07

thanks man, i havent decided on the exact car im goin for yet there is a lot of 320d coupes out there, do you know anything about like tranfers through the internet like currency.ie? from what ive read here they seem to be good, thanks for all your help. i hope to get a lot of money of the asking price wheather private or trade

forgot to mention i alo have an english bank account to transfer money into

Gumbo

cormac07 wrote: »

thanks man, i havent decided on the exact car im goin for yet there is a lot of 320d coupes out there, do you know anything about like tranfers through the internet like currency.ie? from what ive read here they seem to be good, thanks for all your help. i hope to get a lot of money of the asking price wheather private or trade

forgot to mention i alo have an english bank account to transfer money into

english car market is bouncing back at the monute!
i struggled and i mean struggled to get 550 stg off a BMW 330d saloon a few months ago. i done everything, with it being a less desirable 3.0 litre engine and all that and the dealer told me if i had 5 of them he would sell them all!

so you may struggle to get as much off a car over there compared to over here. i got just over 3k off an E90 320d from an irish dealer 3 months ago by haggling with cash.

in regards to the payment, i would go down the sterling bank draft route and sending a scan of it to the seller a few days before hand so he can ring and confirm its genuine.

yop

Do I HAVE to get the draft off my own bank, is there any other way around it? They want 8346 for 7000 pounds, where as here it 8177 here!! http://www.xe.com/ucc/convert.cgi

What are the options?

Mr Benevolent

No real options unless you know someone who works in forex, they can do you a good deal - that's how I'm doing it in a few months going to Australia. The forex commission on €27k is gonna be fairly high no matter what you do.

Del2005

yop wrote: »

Do I HAVE to get the draft off my own bank, is there any other way around it? They want 8346 for 7000 pounds, where as here it 8177 here!! http://www.xe.com/ucc/convert.cgi

What are the options?

That's the spot price not the buying or selling price, there is usually a fair difference between them. Only way to get a better price is to ring around all the banks or try currency.ie above.

robtri

cormac07 wrote: »

Hi Guys,

I am buying a car in the UK at the end of the month and I am wondering how do i get my euro back there in the best way and value (Im talking €27000)? like do i use a bank draught or watever? Ive never done this before and am confused!

Any help would be greatly appriciated, Thanks in advance!

Cormac

not to go too off topic.... but why the UK??? for that money here you would be talking a 320d 2008 m sport...a little haggle and you would get in no problem

R.O.R

robtri wrote: »

not to go too off topic.... but why the UK??? for that money here you would be talking a 320d 2008 m sport...a little haggle and you would get in no problem

I'd say you might struggle a bit there. We've just sold (to trade) a 2008 320d SE Edition for €30k.

stealthyspeeder

I bought my car in England, of a dealer. I agreed the price, and haggled over e-mail (not the best way and got little off in the way of a dicount as the bargaining dynamics are just not the same as walking in with a bag of cash!) but I had a paper trail. I paid in full, flew over, picked the car up and drove home, simple as!! There are some scare stories out there but I checked to see if the garage was reputable (not involved in any scams or widespread complaint) and got written asssurances of what I was getting, to this day I am happy that I got what I paid for!

Gumbo

yop wrote: »

Do I HAVE to get the draft off my own bank, is there any other way around it? They want 8346 for 7000 pounds, where as here it 8177 here!! http://www.xe.com/ucc/convert.cgi

What are the options?

XE show the exact exchange rate, the banks then add commission as they have to make a profit on it too.

cooper38

xe shows interbank rate.

banks normally charge high margins so the rates are always different even between banks. Best to compare banks and also check www.currency.ie , irish broker and see who offer you the best exchange rate