Dealer insists on Bank Transfer

EmmyLou30

No reason not to pay on debit card. I paid for my car on the day I picked it up, about £13.5k, no problems at all. I wouldn't be willing to do an unprotected bank transfer and any garage that insisted would lose my business. BACS and debit card are the same thing - money is cleared funds, so nothing like a credit card and no risk to the garage with you paying on a debit card.

neilmcl

Deleted_User wrote: »

Putting a debit card into the slot and pressing 4 numbers is easier than logging into online banking, setting up a new payee, probably with the use of one those dreadful keypad things, double and triple checking you have typed the correct account number... nah.

Not for the dealer it isn't.

Oakdene

Deleted_User wrote: »

Putting a debit card into the slot and pressing 4 numbers is easier than logging into online banking, setting up a new payee, probably with the use of one those dreadful keypad things, double and triple checking you have typed the correct account number... nah.

Until your bank requires you to authenticate the transaction by having the dealer call the telephone line to manually process the transaction, which could lead to the customer having to call their bank before they give the authentication code & then the transaction has to be processed again on the card machine.

[Deleted User]

neilmcl wrote: »

Not for the dealer it isn't.

In retail it's all about making it easier for the customer though.

motorguy

Deleted_User wrote: »

In retail it's all about making it easier for the customer though.

Is it?

When its £10K or £20K transactions i'd say many dealers would be risk averse.

Typically from purchase to pickup could be a matter of some days. Theres plenty of time for the customer to get the transfer done.

It sounds like the dealer has been caught out at some point - perhaps had a transaction not go through / problems with it so they've opted not to.

I'd rather let the 1 in 100 customers flounce out because they refuse to do it than take any sort of a chance with a £10K or £20K transaction.

motorguy

EmmyLou30 wrote: »

No reason not to pay on debit card. I paid for my car on the day I picked it up, about £13.5k, no problems at all. I wouldn't be willing to do an unprotected bank transfer and any garage that insisted would lose my business. BACS and debit card are the same thing - money is cleared funds, so nothing like a credit card and no risk to the garage with you paying on a debit card.

What do you mean "unprotected"?

And if they are the same thing, why does it matter if you do a bank transfer?

If the dealer has those processes in place whereby they wont accept debit / credit card payment for the balance then they have done so for a reason and i would say they will be quite happy for someone to walk who refused to comply for whatever reason

SouthLondonUser

Also double check what the threshold for faster payments is for your bank. For many banks, it's £10k, so a £12k transfer would get there in 2 days, but two separate £6k transfers would reach the recipient immediately.

unholyangel

motorguy wrote: »

It sounds like the dealer has been caught out at some point - perhaps had a transaction not go through / problems with it so they've opted not to.

I'd rather let the 1 in 100 customers flounce out because they refuse to do it than take any sort of a chance with a £10K or £20K transaction.

Or it could also sound like they're selling lemons and want to make sure the customer has as little redress as possible when they discover they've been had.

What chance would a reputable dealer who was confident in his motors be taking by accepting the payment by card rather than bank transfer?

Car_54

motorguy wrote: »

Is it?

When its £10K or £20K transactions i'd say many dealers would be risk averse.

Typically from purchase to pickup could be a matter of some days. Theres plenty of time for the customer to get the transfer done.

Why would the customer agree to transfer the cash days in advance? He then has no protection if the dealer goes bust/burns down/whetever before pickup.

motorguy

unholyangel wrote: »

Or it could also sound like they're selling lemons and want to make sure the customer has as little redress as possible when they discover they've been had.

And paying by debit card or cash would change that..... how?

unholyangel wrote: »

What chance would a reputable dealer who was confident in his motors be taking by accepting the payment by card rather than bank transfer?

Why should he take any chances at all? I've known car dealers - reputable ones - done over by fraudster customers. If this particular dealer is risk averse, thats his perrogative.

The last car i bought i paid the dealer in advance. Bank transfer.

Made for a very pleasant, hassle free handover.