Buying british.

nailler1

Hi all. Im heading to uk to buy a used car. Im a mechanic, and panel beater, so i no what im looking for regarding faults. My question is, Whats the best way to exchange my cash for said car????????
cheers

-Corkie-

How do you mean??. To change your cash to sterling or the best place to look for a car...

bijapos

Usually the best exchange rate is with your local bank branch, ring them in advance to make sure they have enough sterling. It is holiday season and they do run out in the smaller branches.

Unless you feel its too dodgy its best to take sterling cash with you. A seller may not trust Euro cash, a foreign bank draft or a cheque. Or if you think you trust the seller you could always arrange to buy the car via a Swift transfer when you are there. It usually takes no more than 15 minutes and costs next to nothing.

nailler1

Yea, its more of a trust issue. Im a guy from an other country with several grand in my back pocket.......

Buying private or from a dealer?

nailler1

Private

Damokc

try to meet him near a police station or at least a busy carpark.

stealthyspeeder

my single contribution, dont go over at the weekend and expect to pay with a bank transfer.

When I went over on the ferry in Feb I was pulled into customs and they had the sniffer dog out round my car, trained to look for cash apparently, so ifs its a big purchase check with uk customs what the limits are.

nailler1

Thanks for the imput guys. il keep you posted bout how it went....

mickdw

Is there not a better exchange rate if you load euros into credit card and then pay by credit card over there.

bmstuff

Why are you going to UK buying a car these days if you don't mind me asking, there are tons of cars for sale here, for very good value usually. Should be cheaper that VRTing an import.
But then it depends, you might have found a perl, let us know.

mickdw

mickdw wrote: »

Is there not a better exchange rate if you load euros into credit card and then pay by credit card over there.

Private seller though
Most of the dealers would be happy out though with that.

Monty.

stealthyspeeder wrote: »

my single contribution, dont go over at the weekend and expect to pay with a bank transfer.

When I went over on the ferry in Feb I was pulled into customs and they had the sniffer dog out round my car, trained to look for cash apparently, so ifs its a big purchase check with uk customs what the limits are.

As a rough guide a lidl plastic bag can hold approx. € 250,000

bmstuff

Monty. wrote: »

As a rough guide a lidl plastic bag can hold approx. € 250,000

A large pair of bra can also hold around 20,000 euro as recently found on a woman...:D

Marcusm

How much a you spending? Anti money laundering rules used Tobermory triggered at 10k. Last time I got stopped for a random search when getting off ferry in the UK they specifically asked about anything over 1,000. Apparently, anti terrorist provisions permit that. Purchaser is also likely to face UK scrutiny if lodging significant amounts of cash, whether GBP or EUR.

Never buy a UK car without meeting the owner at his house and checking the address against the V5. Wouldn't necessarily bring cash to that meet up. If I was taking cash from you, I would want handover in a bank where it can be verified.

Print out the DVLA instructions on what the seller needs to do with the V5. Otherwise they'll be loath to give you the whole think.

Bring photo ID and an Irish utility bill in case they want proof of your address.

Buy something nice!!

bmstuff

Marcusm wrote: »

Print out the DVLA instructions on what the seller needs to do with the V5. Otherwise they'll be loath to give you the whole think.

Bring photo ID and an Irish utility bill in case they want proof of your address.

Buy something nice!!

Pretty straight forward, the seller only needs to sign and date the part that says "permanent export". It is a very small part of the V5 which is detachable. The buyer keeps the rest of the V5.

Marcusm

bmstuff wrote: »

Pretty straight forward, the seller only needs to sign and date the part that says "permanent export". It is a very small part of the V5 which is detachable. The buyer keeps the rest of the V5.

Not so straightforward in that what you have suggested is only applicable where the person currently registered as the keeper is exporting it himself!

Follow this link and go to page 8 where it explains the UK government's required rocedurewhich involves the buyer receiving the entire V5C, ie no sections removed, and the seller sends a letter to DVLA which will be alien to most UK sellers who will want to retain part of the form to register the sale.
http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/@motor/documents/digitalasset/dg_065264.pdf

ArphaRima

Call a number of banks to check their rates including all commisions and charges.
If you are with a sizeable bank you can book a rate with their foreign exchange traders in advance.
Whatever you do dont change that amount of cash at a Bureau de Change. You'll get raped.