Bank transfer before for car?

Liz08000

Hi. Any advice welcome.
I’m due to part exchange my car in 48 hours. So far all has gone well with the company.
I’m travelling 5 hours to get there…hand mine in and collect new one.
Ive got the new car registration plate number but the dealer hasn’t registered it yet to DVLA. Say doing tomorrow. I have been asked to collect my new car mid morning in 2 days when I will hand mine over. They haven’t seen my car but I’ve been told what they are giving me. £8 k and say no quibble. I then owe £7 in cash. The dealer wants me to pay by bank transfer tomorrow. I’ve rung my bank and they said I can pay at the time with no issue. I feel really uncomfortable about not paying on the day at the time. I gently challenged this last week but was told pay and we will register it then to DVLA. I’ve had new cars for many years and always laid at the time. 

What should, I do?

Thanks.

J

Liz08000

Paid at time I mean

Lorian

First question is, is this a reputable company, and can you be 100% certain you are not speaking to someone pretending to be the dealer and sharing their own scam bank account number with you.

What sort of car can be bought brand new for this price?

I would continue to be cautious 

Devongardener

This sounds very risky! Have you visited the seller and seen the car?   There’s every possibility that even if the seller is genuine they will find some reason to reduce the trade in value of your car.

Absolutely do not transfer any money in advance.  If it’s a second hand vehicle the registration will already be recorded at DVLA and all the seller has to is complete the transfer form.

If it’s a new unregistered vehicle, what is it for £15K?

If the seller is a genuine trader they will allow you to pay the balance when you collect the car.

Please be careful!

Car_54

As above - don't do it.

Also, we regularly read on here of the huge problems that arise when a car is bought from a remote dealer.

Have you given any thought to what will happen if (when!) a fault arises, and you have to return the car to the seller five hours away?

If I were you, I'd cancel.

subjecttocontract

I did a similar thing many years ago. I live in Essex, I bought a car from a main Ford dealer in Somerset with a part exchange. All done over the phone. Took a days holiday, drove to Somerset, they didn't even look a my part ex'. The change over took 20 minutes and I was on my way home. So, it can work very well but I wouldn't do the same unless it was a big dealership from a major manufacturer.

born_again

Liz08000 said:

Hi. Any advice welcome.
I’m due to part exchange my car in 48 hours. So far all has gone well with the company.
I’m travelling 5 hours to get there…hand mine in and collect new one.
Ive got the new car registration plate number but the dealer hasn’t registered it yet to DVLA. Say doing tomorrow. I have been asked to collect my new car mid morning in 2 days when I will hand mine over. They haven’t seen my car but I’ve been told what they are giving me. £8 k and say no quibble. I then owe £7 in cash. The dealer wants me to pay by bank transfer tomorrow. I’ve rung my bank and they said I can pay at the time with no issue. I feel really uncomfortable about not paying on the day at the time. I gently challenged this last week but was told pay and we will register it then to DVLA. I’ve had new cars for many years and always laid at the time. 

What should, I do?

Thanks.

J

New car, main dealer?

Daughter had to pay for her new mini 48 hours before pick up, but this was  local dealer which had been into several times.

Alanp

Why can’t you pay by bank card on the day?, I bought a brand new car last July ( albeit from my local Toyota dealer) they asked me to check with my bank regarding payment, as I wasn’t taking any finance or pcp, the bank told me there’d be no problem just using chip and pin which I did, I didn’t even have to get a verification code even though it was for 13k, as others have pointed out, be careful before handing over any money before hand, if I remember rightly, they had to do something with dvla or someone before I could drive away, but this was done in a matter of minutes…

user1977

I paid by bank transfer the day before my (Saturday) collection, because their finance dept only worked weekdays. Would have been more cautious if it hadn't been one of the biggest dealerships around.

searchlight123

If this is not a main dealer showroom I would definitely not be doing this. There is no reason at all that you cannot pay by bank transfer or card whilst at the dealer. May take a few minutes longer to sort out the paperwork but so what if you have already travelled 5 hours (!) to get there.

I would seriously reconsider buying from a dealer so far away. What is so rare about this car that cannot be sourced more locally? What will you do when (if) an issue arises after purchase that needs attending to by the seller? It will be your responsibility to get the car to them.

Just don't do it.

EnPointe

Alanp said:

Why can’t you pay by bank card on the day?, I bought a brand new car last July ( albeit from my local Toyota dealer) they asked me to check with my bank regarding payment, as I wasn’t taking any finance or pcp, the bank told me there’d be no problem just using chip and pin which I did, I didn’t even have to get a verification code even though it was for 13k, as others have pointed out, be careful before handing over any money before hand, if I remember rightly, they had to do something with dvla or someone before I could drive away, but this was done in a matter of minutes…

that;s very much as YMMV even  informing the bank in advance 

when i  last purchased a  vehicle (a reasonably expensive  good used ,  even warning the bank lead to the  card being refused by the merchant, fortunately  BACSing it  from the  banking app worked fine