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Money still in my account! [after buying a car]

  • 14-01-2013 10:33am
    #1
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,827 ✭✭✭


    Bought a car this day last week. Paid the deposit by cash and the balance using my Visa Debit card from BoI. They said something about amounts over €1500 having to go through clearance so after they made a lenghty phonecall to someone, they said everything was ok and away I drove.

    I would have thought the money would be debited straight away but just checked my balance this morning and the money's still there!

    Have I got a free car? :D


Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    No, it just means that the retailer hasn't submitted all their transactions for payment yet. Not uncommon for smaller/low-volume retailers not to do them daily


  • #3
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,827 ✭✭✭Gloomtastic!


    Ah well, it was a nice thought.:rolleyes:

    I would have thought low volume but high value retailers would process them daily.

    Thanks anyways.


  • #4
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,827 ✭✭✭Gloomtastic!


    It's still there two weeks later!


  • #5
    locustfurnace
    Registered Users, Registered Users 2 Posts: 209 ✭✭locustfurnace


    Gloomtastic! wrote: »
    It's still there two weeks later!

    A few years ago when in the US of A I paid for the hotel ($400+) via visa card and it was just over 2 months later when they finally took it off the card.


  • #6
    shockwave
    Registered Users, Registered Users 2 Posts: 1,770 ✭✭✭shockwave


    They're probably waiting until the end of the month.


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  • #7
    ted1
    Registered Users, Registered Users 2 Posts: 23,899 ✭✭✭✭ted1


    Have you checked your available balance?


  • #8
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,827 ✭✭✭Gloomtastic!


    ted1 wrote: »
    Have you checked your available balance?

    Yep. It's included.


  • #9
    The Big Red Button
    Closed Accounts Posts: 8,390 ✭✭✭The Big Red Button


    If I were you, I'd be on the phone to them, asking them when it's going to be processed.

    Even if it was some sort of error, it'll show up in the month-end rec's (on either the seller's side, or on the card processing company's side.) Better to get it out of the way now, than in a few weeks/months time.

    I'd also be concerned about where this would leave you if any faults developed with the car? You can hardly go back to the seller, when you haven't even paid for the car yet!

    Also, say if you were involved in a crash tomorrow, are you even legally insured? As the car isn't yours, if you haven't paid for it ... would there be an argument for lack of valid legal consideration being exchanged?

    You had the cash put aside for this car, if I were you, I'd be asking them to process it asap. It's not like you're losing out in any way, because that was what that money was intended for in the first place, anyways.


  • #10
    coylemj
    Registered Users, Registered Users 2 Posts: 25,620 ✭✭✭✭coylemj


    chatterpillar wrote: »
    I'd also be concerned about where this would leave you if any faults developed with the car? You can hardly go back to the seller, when you haven't even paid for the car yet!

    You can't be serious!
    chatterpillar wrote: »
    Also, say if you were involved in a crash tomorrow, are you even legally insured? As the car isn't yours, if you haven't paid for it ... would there be an argument for lack of valid legal consideration being exchanged?

    Are you sure you're not just looking for problems where there isn't one?

    The fact that the vendor hasn't presented the transaction for payment has no effect whatsoever on the legal status of the OP and the car.

    The OP tendered a form of payment which was accepted by the vendor who handed him the keys, the ownership legally transferred there and then, he owns the car.


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