Hi all,

A good friend is picking up his new Civic Type R at the end of the month and he wants to pay cash for the £8K deposit. Are dealers ok with this, i.e. him turning up with a suitcase of used readies!?

Any experience/comments much appreciated!

Cheers,

Mossman

 

when i bought my evo 6 last march i payed a 5k deposit cash , they had no problems taking it off me

 

Official guidelines for money laundering is to be alert for amounts of more than 15000 Euro, so that's about 10 grand.

Different countries interpret this differently - some are alert for any amount that is suspicious, others simply don't bother.

Depends if your mate turns up wearing lots of tacky gold jewellery and two dogs in mini skirts I suppose

BJH

 

Too funny to edit previous message - I meant to say "and accompanied by two dogs in mini skirts"

 

I paid CASH for my scooby Didn't want to wait for a cheque to clear, and my bank are very accomodating about such requests!

Amusingly I just had a new boiler fitted, and paid the guy cash for the job - he said the bank took about 15 minutes checking the notes as they were consecutive serial numbers - I just got them from a cash machine - Honest Guv

 

Cash is not a good idea as you have no insurance. Best thing to do is pay £250 on a credit card and the rest can be cash. This way the credit card company are responsible for any problems with the car.

 

Why not just keep the money in his account and use switch? thats how I paid the £5K deposit for my Impreza.

 

sillysi -- I don't get that. In the event of something going wrong (e.g. car dealer goes bankrupt or does a runner with the money) the CC company will only be liable for 250 quid.

 

He could be really flash, and do it on the Gold Card

 

Most dealers will allow you to switch as much as you want, but limit they amount that you pay on VISA as a switch fee is typically a fixed amount regardless of transaction size, and VISA charge a percentage (1-5% usually).

I've also done Credit Card payment and Switch payment for cars (much better than cash for auctions )

Jon

 

My mate went to buy a £20k BMW in cash (he carried it in a plastic bag )and he got arrested by the old bill. they accussed for robbing a bank.

 

I bought my Scooby with Switch - £15k. That was after a deposit. No problems.

It better than getting mugged on the way to the dealers...

Lunchie

 

Once turned up with 10k in cash to by a Scoob. When I put it down you'd think I'd dropped me pants!
Turned white, ushered me into a back office and then insisted I paid it into the bank and gave him a cheque!
Handed me the keys to a motor but wouldn't step out of the showroom with me, and I thought was paranoid

 

One of my mates sold his subaru cash and went to by a lexus is200 with it and the garage would not take more than 5 grand as a deposit wanted a cheque!

 

I always buy cash - even if its a bank load. Negotiate until the dealer wont go any further. Say would you do whatever less 2 or 3 or 5% for cash. They say no. You plonk appropriate amount of cash on his desk and say - final offer. Never fails. I did get investigated by anti racketeering squad for a 20k purchase, but fortunately 19.5k was a bank loan so I had appropriate paperwork

 

Carl -

What I mean is that if there are problems with the car i.e mechanical and he gets no joy with the garage then the cc company are responsible for getting it sorted. It does not matter how much you pay on the credit card they are responsible for any goods you purchase using the cc either payed in full or part payment such as a deposit.

 

Not sure about that, sillysi. The CC insurance only lasts for 90 days anwyay, and there's a warranty for those things.

 

Whats the UK dealer waiting time - I've been told anything from 8-24 weeks depending on dealer! - would have thought thye all got from same place - subject to allocated numbers

See you can get it about 2.5k-3k cheaper abroad

 

SillySi's right - here's a good example. You turn up with 19,000 in used readies, pay your dealer. The dealer goes bust. You're f***ed.
You part pay by credit card - credit card is liable.

 

I remember a sales manager moaning about one of his salesmen - customer had come in and bought a car for his wife and the salesman had let him pay for it with his Amex card. There wasn't much profit left once the dealer paid the commission to them

 

I just turned up with £17.5k in cash at a Subaru dealer to pay and pick up my new scooby, I was given the cash the night before when I sold my 2 previous cars to a friend. Nice and simple, no problems whatsoever. So what if the dealer went bust, I had my car, the paperwork and a receipt. £17.5k hardly looks anything at all. Best way for men to do business is what I say!!!

 

I've bought my last two cars using a debit card.

£18.5k Scooby
£6k Xsara (for the wife)

No problems, I wasn't even asked to prove my identity or speak to the person at the card authorisation centre. Just swipe and go. Kind of scary really.

I got a letter about 6 weeks later saying "We notice a large transaction (18.5k) was completed on your debit card......can you confirm this was you". er... no

[Edited by davidw - 2/8/2002 3:51:20 PM]