Buying cash - legal question

gilbert_and_sullivan

[QUOTE=Alter_ego;65495485

Anyway that being said as a cash buyer what realistically should I be haggling for? I would have thought its in our hands but have heard companies prefer finance. Anyone experience with cash buying/haggling? Any tips would be great, thanks.[/QUOTE]

Buy carefully privately, you and the seller both make and save money.

neilmcl

Alter_ego wrote: »

Hello, sorry I can't contribute to the original post

That's as far as I got.

Please start a thread of your own and preferably in a more suitable sub-forum. You'll likely get better responses to your query that way.

cajef

I bought a new Honda last year for cash, I was offered £500 pounds discount if I took finance or £1000 for cash from Honda, plus what other discount and extra's I negotiated with the dealer.

neilmcl

cajef wrote: »

I bought a new Honda last year for cash, I was offered £500 pounds discount if I took finance or £1000 for cash from Honda, plus what other discount and extra's I negotiated with the dealer.

That's generally the exception rather than the rule.

You tend to get more of a dealer/manufacturer contribution on finance, not because of the fallacy of kickbacks/commission etc from the finance cos, but mainly because this is how the majority of vehicle purchases are financed and the more units sold in this way leads to better discounts for the customer.

arcon5

Alter_ego wrote: »

Hello, sorry I can't contribute to the original post I just want to add on a query of my own.

I'm currently looking at a mortgage, first time buyer, and have been reading about the scrutiny in mortgage applications these days. For this reason I want to pay cash for a new(to me) car and not have extra finance. I know that credit scores/ratings can improve with credit/finance but I think it would be better if we could say to the mortgage lender, the outgoings are minimal. (Could be wrong, weigh in with opinions please)

Anyway that being said as a cash buyer what realistically should I be haggling for? I would have thought its in our hands but have heard companies prefer finance. Anyone experience with cash buying/haggling? Any tips would be great, thanks.

But if the loan is marked as satisfied it will proof this finance agreement is no longer an outgoing. And can only look good on the borrowers profile

RegWorts

Lord_Snooty wrote: »

I always have (and always will) purchase my new cars with cash.

As an aside to your main question, I recently purchased a car from a Main Dealer and he said that cash is not the best option as the banks have a "handling fee" for cash of several ££s per £1K...(Unbelievable but it is true )

If you have the available "cash" then perhaps the better option is £200 on a Credit Card ( for the added security of buying with a CC in case of any problems ) and the rest transferred from your bank with a Direct Debit card

MysteryMe

If you are talking cash as in bank notes there will also be anti money laundering paperwork to complete by the dealer, plus it's an added security risk for them.

arcon5

Well HSBC has a couple of tariffs for paying in cash... One 0.6% and one 1%. So per £1k, £6 and £10 respectively. Not quite £00s. Some salesman must really think Jo public are completely stupid