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Main dealership insisting on bank transfer
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Nearly_Old wrote: »Couldn't you go to the dealer on the day, have a good test drive and if everything is ok do an immediate BACS transfer (our dealer had free wifi) then go and have a coffee whilst the payment clears?
Internet banking on unsecured public networks is amazing isn't it? The convenience...
The reason they want it two days in advance is probably for their own security. A bank transfer can be reversed at any time as long as the money is still in the recipient's account and the sender can convince the bank that their account was hacked and the money therefore stolen.
It may not be that common but if it's happened to them before then they'll take measures to avoid it happening again. Of course they're probably losing more by people backing out than they would be by being ripped off again, which is why they didn't tell you about it until after.
The good news is that as long as you paid the £200 by credit card then the card company are on the hook for the entire purchase, affording you all the protections therewith (up to a certain max purchase amount). You did didn't you?
If not just tell the dealership that you aren't paying by bank transfer and if they want the sale to go through you shall be arriving with 1000 of Her Majesty's crispest £10 notes, which they are required by law to take.
They won't want that because forged banknotes have rinsed more car dealers than dodgy bank transfers so you'll either get your deposit back or they'll suddenly see reason about the card.
Either that or suggest they meet you at their branch where they can pay a bankers draught in and then hand you the keys, like a private sale.
Fwiw I transferred £2300 the day before to a car dealer dealing from his house once and I hated it. My heart was in my mouth the entire time and I 99% thought he wouldn't open the door but it was all fine.
I did actually drive the car before that though.0 -
Nearly_Old wrote: »Yes you are correct - I was probably still thinking of BACS vs CHAPS rather than the new Faster Payments.
So much easier to say bacs. Faster payments is a mouthful!0 -
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If they are merely trying to protect themselves tell them you will drive it, if you like pay on the day, then collect two days later....
Makes no odds to them Right?
Payment two days in advance. Criteria met?0 -
Why do so many people come on these forums and say they’ve paid a deposit on a car they haven’t either seen or driven?
It is utterly BONKERS!!
Have you tried buying a car recently? I enquired about lots of cars and being restricted to weekends I would find cars would be sold before I could go and view them.
One car I was really keen on was being sold as we turned up for our appointment.
The only way you can prevent this is putting a holding deposit down and I don't want to put a holding deposit down on every car I'm interested in.
So when I view a low mileage car which is only a few years old that simply has a flat battery. It doesn't seem a big issue to put a deposit down.
The car has a 12 month warranty so I'm probably being over cautious
It just feels like I'm doing a large transaction on trust and after a couple of recent bad experiences that doesn't seem the best position to be in.
The dealership is only 20 miles away so I can go up and test it tomorrow and then pay or try faster payments and go back a couple of days later.
If there is an issue I would have thought not being able to test drive it on the first visit would be a fair argument for getting the deposit back.0 -
Enough already! BACS can take up to 3 days for funds to clear, CHAPS will clear same day if actioned before 2pm.
The main reason that dealers ask for bank transfers is so that there are cleared funds and the vehicle is paid for, before being released, more commonly for a distance sale and the vehicle is being delivered. If you try and BACS a payment on handover, best to come armed with a tent,as you will have a long wait.
If you are local to the dealer whose vehicle you have put the deposit on, ask to test drive the car , before arranging collection. You say it is a Nissan main dealer,so if you are getting push back, contact the Dealer Principle who will be very interested in the way your transaction has gone so far!0 -
If not just tell the dealership that you aren't paying by bank transfer and if they want the sale to go through you shall be arriving with 1000 of Her Majesty's crispest £10 notes, which they are required by law to take.
No. No. No.
No one us required by law to take any promise of payment be it cash, giro, cheque or credit card. No such legality exists. They can refuse to complete the contract and refuse to take the cash. Just because something is legal tender does not make it illegal for the seller to not take the tender. That a seller has to accept legal tender is a myth. Just as anyone can refuse to take Scottish notes. Just because it is legal tender does not mean that the seller has to complete the contract by law.0 -
To the OP. On no account make ANY further payment until you have test driven the car and are happy with it. Any other course of action will end up with you being sent around the houses.0
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I'd go back to say you'll pay after a successful test drive...0
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Enough already! BACS can take up to 3 days for funds to clear, CHAPS will clear same day if actioned before 2pm.
The main reason that dealers ask for bank transfers is so that there are cleared funds and the vehicle is paid for, before being released, more commonly for a distance sale and the vehicle is being delivered. If you try and BACS a payment on handover, best to come armed with a tent,as you will have a long wait.
If you are local to the dealer whose vehicle you have put the deposit on, ask to test drive the car , before arranging collection. You say it is a Nissan main dealer,so if you are getting push back, contact the Dealer Principle who will be very interested in the way your transaction has gone so far!
Correct. But you would struggle to make a bacs payment unless you bank with some obscure bank that doesnt use faster payments.0
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