Buying a new car £10k, best way to buy please?

Mildly_Miffed

CliveOfIndia said:

But (and sorry, going off on a slight tangent here), that's one reason why large supermarkets offer cashback when using a debit card to buy your shopping.  They need to keep some cash on the premises for people who want to use cash.  But if they can get rid of the majority of it by giving cashback to people that want it, it saves them a lot of hassle and expense.

People still pay with cash in supermarkets?

They surely give more out as cashback than they take in as payment, and have for years.

Ectophile

facade said:

With £10,000 most places won't accept cash. It is trouble for them to have hanging around, to pay into the bank, and they get charged a transaction fee to pay cash into a business account.

So either pay by bacs transfer the day before, or try and pay with a debit card on the day, but you will be hanging around for hours while the payment clears if you try and do it on the day.

Three of my last four cars were bought on debit card, and I have never had a problem paying on the day.  That's what Chip & Pin is meant to solve.  Once the machine says "authorised", it's done.

CliveOfIndia

Mildly_Miffed said:

People still pay with cash in supermarkets?

I still see plenty of people paying with cash every time I'm shopping.  Admittedly it's far less than it was many years ago, but there's still a fairly large number who use cash.

Mildly_Miffed said:

They surely give more out as cashback than they take in as payment, and have for years.

I'm guessing it tends to balance itself out.  The people who want cashback are likely to be the ones who use cash regularly, those who use cards of whatever type probably have less need for cash.

There's still a need for cash, though.  My local village shop (admittedly it's a very small shop in a very small village) won't accept card payments for less than £2.50.  So if you just want a newspaper or a pint of milk, you need cash.  And I still see a fair few shops where they say the minimum transaction for cards is £5.

born_again

Ectophile said:

facade said:

With £10,000 most places won't accept cash. It is trouble for them to have hanging around, to pay into the bank, and they get charged a transaction fee to pay cash into a business account.

So either pay by bacs transfer the day before, or try and pay with a debit card on the day, but you will be hanging around for hours while the payment clears if you try and do it on the day.

Three of my last four cars were bought on debit card, and I have never had a problem paying on the day.  That's what Chip & Pin is meant to solve.  Once the machine says "authorised", it's done.

More & more, especially the big groups are moving to bank transfers. Keeps their costs down.
Often wanted the day before, as accounts teams are not in each dealer. So dealer does not have access to accounts to check payment has arrived.

Latest one daughter has just bought. Does not even have a card terminal. Bank transfer for deposit & rest of payment.

400ixl

born_again said:

More & more, especially the big groups are moving to bank transfers. Keeps their costs down.
Often wanted the day before, as accounts teams are not in each dealer. So dealer does not have access to accounts to check payment has arrived.

Latest one daughter has just bought. Does not even have a card terminal. Bank transfer for deposit & rest of payment.

Not experienced that at all, especially main dealers. Debit card for balance payment, done in seconds onto the handover.

As for a dealer not even having a card terminal, how do customer pay for servicing and parts? Dealers would loose huge amounts of business if the did not allow buyers to pay a deposit on credit card when buying a car under £30k.

Ectophile

born_again said:

Ectophile said:

facade said:

With £10,000 most places won't accept cash. It is trouble for them to have hanging around, to pay into the bank, and they get charged a transaction fee to pay cash into a business account.

So either pay by bacs transfer the day before, or try and pay with a debit card on the day, but you will be hanging around for hours while the payment clears if you try and do it on the day.

Three of my last four cars were bought on debit card, and I have never had a problem paying on the day.  That's what Chip & Pin is meant to solve.  Once the machine says "authorised", it's done.

More & more, especially the big groups are moving to bank transfers. Keeps their costs down.
Often wanted the day before, as accounts teams are not in each dealer. So dealer does not have access to accounts to check payment has arrived.

Latest one daughter has just bought. Does not even have a card terminal. Bank transfer for deposit & rest of payment.

To me, a business that doesn't have card facilities and insists on payment in advance by bank transfer would be a red flag.  It suggests a company with credit and cash flow problems.

Stateofart

First £500 on a credit card to get Section 75 protection.  The rest on debit card.

born_again

Stateofart said:

First £500 on a credit card to get Section 75 protection.  The rest on debit card.

You mean 1st 1p....

Dealership daughter used is part of a large group & is only a new car sales outlet. That will be moving to new location soon. So may change. But could be the start of a trend for them to reduce charges. 

Bigphil1474

Surely it has to be over £100 to get the protection, and has to be under £30k in total, so they would be correct with first £500 as an option?

born_again

Bigphil1474 said:

Surely it has to be over £100 to get the protection, and has to be under £30k in total, so they would be correct with first £500 as an option?

It is the cost of the item that has to be over £100 up to £30K.
How much you pay on credit card makes no difference to the S75 cover.

A lot of garages will say a £500 deposit.