Paying for a car.

Merlecollins

Hi all,

I have agreed to buy a vehicle from an independent dealer.

The only thing is, due to logistics and other commitments, I cannot collect it for 3 weeks.

The dealer is happy with that but has asked me to pay a holding deposit of £1000, which to be honest I think is fair enough.

My question is this, what is the safest way to pay him that £1000 deposit? I don't suppose for one second he 'will' go bust in the interim, but is there any method of payment where I am covered to claim it back if he does?

Thanks in advance,

MC.

knightstyle

Credit card.

Ectophile

If they will take a credit card, then that is definitely the best option. That way you will have protection from the credit card company if the dealer goes bust. You will also have protection if the car is a lemon and the dealer refuses to fix it.

thenudeone

Merlecollins wrote: »

I don't suppose for one second he 'will' go bust in the interim,

I didn't think that either, but that's exactly what happened to me shortly after I bought a car, resulting in me having to pay for the 2 year warranty all over again (since the dealer hadn't paid the warranty company, it was void).

Car dealerships go under with surprising frequency.

Credit card is definitely the safest.Even if you pay a small amount by credit card and the rest by debit card you still get full protection. (i.e. you can sue the card company for the full deposit back if the dealer goes bust).