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Buying a car in the UK

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  • 04-03-2017 7:00pm
    #1
    Sandy67
    Registered Users Posts: 39 ✭


    Hi Everyone,

    I have recently placed a deposit on a 2012 BMW 525D M Sport in the UK from a main Bmw dealership.

    This is the first time I have decided to import a car. Therefore, the dealership informed me I can pay the balance by either a bank transfer or debit card.

    If I decide to do a bank transfer, does a hefty charge apply and would I have to do the transfer from my bank two days prior to collecting it?

    Thanks.
    Tagged:


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    #2
    CalamariFritti
    Registered Users Posts: 5,470 ✭✭✭CalamariFritti


    Considering the car and the year we're talking around or just above 15k sterling?

    Beware debit card transaction limits in this case. They differ from bank to bank, call your bank. I paid my 1000 pound deposit with my VISA debit and the exchange rate was really good. Would have loved to pay the lot using VISA debit but not possible due to €2,500 transaction limit with my bank. Online bank transfers also have limits. So for amounts like the above you have to walk into a branch to do the transfer or buy a bank draft. For those transaction types the fees are decent but the rates you get from the regular banks are really bad. Like 2, 3 or more cents off the daily rate.

    You need to do your homework here. Both on limits and rates. Call your bank, check out services like transfermate. If you don't this could easily cost you €500+.


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    #3
    Sandy67
    Registered Users Posts: 39 ✭Sandy67


    Hi CalmariFritti.

    Thanks for your feedback.

    The car is 18k sterling. I will pop into the bank and ask them how I could process the transfer over.

    I will also have a look at transfermate..


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    #4
    CalamariFritti
    Registered Users Posts: 5,470 ✭✭✭CalamariFritti


    Sandy67 wrote: »
    Hi CalmariFritti.

    Thanks for your feedback.

    The car is 18k sterling. I will pop into the bank and ask them how I could process the transfer over.

    I will also have a look at transfermate..

    They will tell you to do a transfer or buy a draft. Nothing wrong with that as such. But make sure to ask them about the rates they will give you. Then get a quote from transfermate or similar. In my case there was a 3 cent difference nearly. Which is quite a lot of money at 18k.

    Good luck with it all. Some buzz picking up that car.


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    #5
    Sandy67
    Registered Users Posts: 39 ✭Sandy67


    Cheers Calamari, I'm looking forward to it now.

    Luckily I found the right one because they are extremely rare here in Ireland especially the spec and mileage I was after.
    It's a twin turbo 2.0 diesel with 218bhp rather than the 520d with 184bhp, so hopefully it will drive much better.


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