Buying car in the UK - payment options?

zilog_jones

I'm thinking about buying a car in the UK, but wondering what options I have for payment. Looking at a 2012-2013 Toyota Prius, and most are at main dealers.

I was planning on going over there and staying with some relatives for a few days, so I could look at a few cars in the area. This would mean I wouldn't have the option of having a bank draft ready before I leave Ireland like the method listed in the FAQ.

I assume if I did a SEPA transfer, it will have to clear before I can take the car? Ulster Bank lists 2-4 days for a SEPA transfer to the UK, and gives me no faster option (at least on their online banking). Or would a deposit be good enough? My bank also suggested transferring the money to a relative's bank account in the UK beforehand - would this make things easier?

What other options do I have?

theminstrel

I used currencyfair recently. Set up an account. Transfer euro to their Irish account. Exchange that to sterling and then transfer to dealers account from there. All done online and very straightforward. You'll get a much better rate than the bank will give you.
Transferring to the dealers UK account took 1 business day for me anyway.

blueser

If your bank account is with one of the major banks, wouldn't you be able to withdraw a draft from a local branch over there? Bring proper forms of photo ID, and maybe some sort of letter of authorisation for your branch over here, and I wouldn't have thought there should be a problem.

zilog_jones

I'm not sure what you mean - none of the major banks in Ireland operate in England. I do not believe RBS are any use to me as an Ulster Bank ROI customer, even though it is the same parent company.

blueser

zilog_jones wrote: »

I'm not sure what you mean - none of the major banks in Ireland operate in England. I do not believe RBS are any use to me as an Ulster Bank ROI customer, even though it is the same parent company.

I thought AIB and/or BOI had branches over there? They certainly used to anyay. Perhaps I need to get out more!

s14driftking

Don't know if possible but couldn't u pay for it with a laser card if u had the cash in it.

Car99

Bank transfer is safest. Although what I usually do is take cash and lodge it in to the seller's account in branch . Much faster .then I drive home.

Shefwedfan

If buying up North is it any easier? does anyone know?

Esel

Shefwedfan wrote: »

If buying up North is it any easier? does anyone know?

Handier, yes. Less choice though.

Personally, I would be very wary if buying a diesel there, due to the possibility of washed diesel having been used regularly in it.

zilog_jones

blueser wrote: »

I thought AIB and/or BOI had branches over there? They certainly used to anyay. Perhaps I need to get out more!

I see AIB have a small amount but they seem to be for business customers only. Not sure about the others. I'm with Ulster Bank anyway.

s14driftking wrote: »

Don't know if possible but couldn't u pay for it with a laser card if u had the cash in it.

Foreign transaction fees can be significant on debit cards. Isn't there a limit on them too? I can see a limit for withdrawals on Ulster Bank's website but not for purchases.

Car99 wrote: »

Bank transfer is safest. Although what I usually do is take cash and lodge it in to the seller's account in branch . Much faster .then I drive home.

Did you withdraw the cash over there or in Ireland? Not sure I'd feel safe carrying that much cash around (looking at around £16k)...

And yeah, the last time I checked there was nothing up North that suited me.

bazz26

Transfermate or Currencyfare.

Carlosd

Transfermate do same day for free. Ask for anmarie, very helpful with car buying . When I mentioned boards.ie i got a better rate also

Carlosd

OSI wrote: »

Limit of €1500

Plus you get hammered on exchange rates

millington

Esel wrote: »

Handier, yes. Less choice though.

Personally, I would be very wary if buying a diesel there, due to the possibility of washed diesel having been used regularly in it.

Why would it be used more in the north than the south?

Shefwedfan

Esel wrote: »

Handier, yes. Less choice though.

Personally, I would be very wary if buying a diesel there, due to the possibility of washed diesel having been used regularly in it.

Why? most of the washed diesel was been sent to the south and not up north, you have more chance of getting washed diesel down south

PukkaStukka

Shefwedfan wrote: »

Why? most of the washed diesel was been sent to the south and not up north, you have more chance of getting washed diesel down south

Plus new measures taken to combat diesel laundering by using an isotope that couldn't be washed out like the dye means its much easier to spot washed stuff.

The launderers also tried stretching petrol and that too ended with disastrous results. Clearly their director of chemistry didn't get his formula correct either. :rolleyes:

If anything though, laundering seems to be dead now.

http://www.independent.ie/irish-news/provo-gangs-run-petrol-stretching-fuel-scam-30674899.html

http://www.irishtimes.com/news/consumer/new-marker-to-be-used-to-combat-fuel-laundering-1.1690224

zilog_jones

Uhh that went a bit off topic, but I'm going with TransferMate anyway - they can do transfers faster and cheaper than Ulster Bank. Thanks for the suggestions.