Buying in UK, bankdraft not acceptable?

Stallingrad

Looking to buy a car in the UK but the dealer (Main dealer Renault) is not happy to accept a bank draft. This is the first time that has happened, four previous UK purchases a Draft was fine. EFT is not an option, limit of €5000 a day and I obviously don't want to send all the money over, have it clear, then find the car is not right when I go over. 2 visits over are not an option.

Any have any ideas what to do here, can the dealer be convinced or do I find another dealer who will take a Bank Draft?

Tropheus

I've bought a couple of cars in the UK and never had a problem with a Sterling draft from an Irish bank. Maybe the situation with our banks at the moment is making them think otherwise.

You could see if they will take a bank transfer. If they don't, it's possible they are in financial difficulties themselves and are angling for cash. If they don't accept a bank transfer, I'd look elsewhere.

Tony D

I have always taken cash.....none of the sellers wanted a draft, e en a U.k. Draft

Stallingrad

Is it not the case that if your found carrying that amount of cash (€15,000) it can be confiscated from you at the airport?!

Know it is unlikely but not sure I'm willing to take that gamble.

Anan1

Stallingrad wrote: »

Any have any ideas what to do here, can the dealer be convinced or do I find another dealer who will take a Bank Draft?

I've been there before. You send the dealer a scan of the draft in advance, giving them time to verify with the bank that it's genuine.

corktina

Stallingrad wrote: »

Is it not the case that if your found carrying that amount of cash (€15,000) it can be confiscated from you at the airport?!

Know it is unlikely but not sure I'm willing to take that gamble.

no, you are OK provided you have proof of where it came from and what it's for. They are looking for drug dealers and money launderers and if you can show you are neither, you'd be OK. (I think you would need to declare it )

thewing

Sorry to hijack the thread, but I am thinking of buying a car in the uk myself

Was thinking of waiting till January, but do you reckon its a good idea to move now with sterling good and the VRT increase on the way?

Thanks

Henry Ford III

thewing wrote: »

Sorry to hijack the thread, but I am thinking of buying a car in the uk myself

Was thinking of waiting till January, but do you reckon its a good idea to move now with sterling good and the VRT increase on the way?

Thanks

Impossible to answer that really.

thewing

Yeah, I guess its crystal ball stuff - a few too many known unknowns (rate of increase in VRT, rate of eventual depreciation).

ResearchWill

corktina wrote: »

no, you are OK provided you have proof of where it came from and what it's for. They are looking for drug dealers and money launderers and if you can show you are neither, you'd be OK. (I think you would need to declare it )

A person carrying a large amount of cash does in fact risk having it seized, I know of two examples 1 of which was to purchase a car, after 2 years of it bouncing around the DC did the CC finally give the money back.

To be safe contact revenue.

Tea 1000

Stallingrad wrote: »

Looking to buy a car in the UK but the dealer (Main dealer Renault) is not happy to accept a bank draft. This is the first time that has happened, four previous UK purchases a Draft was fine. EFT is not an option, limit of €5000 a day and I obviously don't want to send all the money over, have it clear, then find the car is not right when I go over. 2 visits over are not an option.

Any have any ideas what to do here, can the dealer be convinced or do I find another dealer who will take a Bank Draft?

In fairness, you're leaving yourself open to landing back with a dog if you're doing a deal over the phone with a dealer and he knows you're coming with money before you've even seen it, and the fact that you said you can't make 2 trips means that you'll convince yourself that the car you'll look at is fine.
The correct way to buy a car in the UK is to budget for 2 trips. One to scout out 3 or 4 or as many as you can fit in, then do a deal on the best one and the next trip is to collect. How else can you sort ferry and insurance and cash?
Everyone I've seen landing back with a car from the UK that was all done on 1 trip has been mediocre at best.

si_guru

Some garages now have no banking facility and only take electronic payment, usually via a Switch card (or Visa Debit).. plus CC for service and parts.

No cash, no cheques or drafts.

Since 2000 I've paid for all my cars like this... well until I bought one in Ireland that is.. cash or draft only then!

Stallingrad

Tea 1000 wrote: »

In fairness, you're leaving yourself open to landing back with a dog if you're doing a deal over the phone with a dealer and he knows you're coming with money before you've even seen it, and the fact that you said you can't make 2 trips means that you'll convince yourself that the car you'll look at is fine.
The correct way to buy a car in the UK is to budget for 2 trips. One to scout out 3 or 4 or as many as you can fit in, then do a deal on the best one and the next trip is to collect. How else can you sort ferry and insurance and cash?
Everyone I've seen landing back with a car from the UK that was all done on 1 trip has been mediocre at best.

I appreciate the advice but I've bought 4 cars from the UK this way and everyone was mint. All main dealer, FSH, less than 2 years and low mileage. This one is much the same. If the car does prove to be dog, which is highly unlikely I'll simply fly back.

wonski

ResearchWill wrote: »

A person carrying a large amount of cash does in fact risk having it seized, I know of two examples 1 of which was to purchase a car, after 2 years of it bouncing around the DC did the CC finally give the money back.

To be safe contact revenue.

Did they declare it to the customs?
If not it is their fault really - no judging here.

I still don't feel comfortable with carrying amount of cash over 1-2k to be honest. I would ask for debit card/electronic payment, or anything else not involving piles of notes. This can be done, unless as someone suggested before, dealer wants to keep it off the book/bank/revenue. Which makes their warranty and other promises as usable as in private sale.

Mar4ix

could be dogy car ? if pay cash, nobody can trace than whom did you pay. ... very suspicious..

I bought 4 years ago car in uk, was around 5,5 k euro(actually i rang to my bank, and told, i am buying car in uk, so expecting pretty big amount of money leaving my Visa account) , it was just ebay seller, who sells random stuff , cash or visa ... i paid via visa, all good.

alfreg

Why not put the money in your bank account and pay in the dealers with your debit card or put the money on your credit card and pay in the dealers with that.

Anan1

alfreg wrote: »

Why not put the money in your bank account and pay in the dealers with your debit card or put the money on your credit card and pay in the dealers with that.

You could do, but the exchange rate wouldn't be great.

Stallingrad

Follow up on this, they changed their mind when I indicated it was getting awkward. Anyway, found the same model here for much the same as importing, so happy to keep the money here.

Robertr

Stallingrad wrote: »

Looking to buy a car in the UK but the dealer (Main dealer Renault) is not happy to accept a bank draft. This is the first time that has happened, four previous UK purchases a Draft was fine. EFT is not an option, limit of €5000 a day and I obviously don't want to send all the money over, have it clear, then find the car is not right when I go over. 2 visits over are not an option.

Any have any ideas what to do here, can the dealer be convinced or do I find another dealer who will take a Bank Draft?

Don't think there is a limit of €5000 a day. I have done much more in the past.

Some dealers don't like taking drafts that are not from a UK bank as they can't validate them on the spot. Makes sense.

Some don't mind. Its hit and miss but they don't have to take them.

If your not willing to pay electronically then you'll have to go somewhere else.

I wouldn't bring that much cash over, not because I'd be worried about it being confiscated (once you delare it on the way you'd be fine), more worried about anything else that might happen walking around with that much on me.


Edit: Whoops..missed the second page. See this is not relavent