Cash sales query

[Aquila]

I'm paying for my car with cash bank transfer, The dealer could be requesting payment this Monday 31st October (he needs to clarify with manager), I have my registration number and the car should be ready to collect next week but should I be paying before I actually get my hands on the car?

 

[siteguru]

I wouldn't - and I'm not. I'm paying cash on collection (will do debit card or bank transfer - whichever the dealer wishes). I paid my deposit using a credit card so I feel quite safe.

I suspect they're being cautious regarding the transfer of funds going through OK - they want to see the balance clear before they release the car.

 

[AndyL61]

I agree , not paying until I collect. Will use debit card. Only paid £100 deposit.

 

[the briggie]

Depends on dealership requirements. Frasers of Falkirk, debit card under £3k. BACS over £3k cleared into their account at least 24 hours before collection.

Alan

 

[Aquila]

Depends on dealership requirements. Frasers of Falkirk, debit card under £3k. BACS over £3k cleared into their account at least 24 hours before collection.

Alan

I've just sold my old car to motorpoint money was in my account in minutes and when I bought that car I paid with my debit card on the day of collection....I'm a bit perplexed how a dealer can't do this? maybe extra security or something I honestly don't know, I also suspect it has something to do with end of the month sale's figures too.

 

[the briggie]

I suppose at the end of the day it is their goods to sell so they can ask for payment anyway they want

Alan

 

[JCFlippen]

when a large payment has to be made I send a small amount to the nominated account by BACS. When the payment is received and confirmed I can then send the large amount after checking the car out without fear of mis direction.

 

[Tight Git]

I'm paying by BACS on collection - Nationwide say you can only do £10k max in one go but I can do multiple ones of £10k without any issues.

 

[Ian Key]

I think for money laundering purposes dealers will only accept bank transfers