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Car buying finance

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By *aptiveAudience OP   Man
over a year ago

Nottingham

Just wondered if anyone could let me know the way that the deposit and payment for a used car is done when buying from a main dealer please? The purchase will be cash with no Part Exchange.

I’m viewing a car tomorrow and, if everything works out ok, what is expected when paying for the car in cash? Deposit, balance, road tax etc etc?

Thanks.

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By *aptiveAudience OP   Man
over a year ago

Nottingham

Just to clarify… I don’t need finance I’m just trying to work out how to hand the money over to a dealership? Best to pay some on credit card? Is a deposit needed etc? Thanks.

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By *arkandlovelyWoman
over a year ago

South Derbyshire

If the car is ready to drive away there and then you'd pay the full amount, sort your road tax and insurance out, then drive it away. Assuming it's not low value because it's from a dealership, you could pay by online bank transfer or by card if they have a card reader.

Otherwise it'd be a deposit then pay the balance when you go to collect it a few days later. Varies by place in mt experience.

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By *arkandlovelyWoman
over a year ago

South Derbyshire

I would assume main dealers had moved away from cash handling but I could be wrong.

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By *den-Valley-coupleCouple
over a year ago

Cumbria

Would never use my money to buy a car even if it's the cheapest way I borrow from the bank then put money somewhere it will make money, like high-interest saves if you look long and hard you may even offset your car with interest rates going up.

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By *ubmissiveman2uMan
over a year ago

Cheshire

Pay a couple of k by credit card to get some extra protection.

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By *aptiveAudience OP   Man
over a year ago

Nottingham

Thanks. Sounds like the deposit can be credit card (to get the payment protection) and then on collection, the rest paid by bank transfer. Their everyone.

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By *aptiveAudience OP   Man
over a year ago

Nottingham

Do you think there’s much ability for haggling over price these days or is that not really achievable due to the shortage of used cars etc? Thanks.

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By *0shadesOfFilthMan
over a year ago

nearby

91 per cent of private car sales are on finance / pcp so your in the minority

Good advice above about using a credit / visa gives extra consumer protection.

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By *aptiveAudience OP   Man
over a year ago

Nottingham


"91 per cent of private car sales are on finance / pcp so your in the minority

Good advice above about using a credit / visa gives extra consumer protection. "

91 percentage? As high as that?! Wow!

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By *0shadesOfFilthMan
over a year ago

nearby


"91 per cent of private car sales are on finance / pcp so your in the minority

Good advice above about using a credit / visa gives extra consumer protection.

91 percentage? As high as that?! Wow!"

Figures from the Finance and Leasing Association (FLA) showed that 91 percent of new private cars were financed by its members in the 12 months to the end of April. That's despite the fourth month of 2019 heralding a slight drop in new business compared with the same period in 2018.13 Jun 2019

https://uk.motor1.com › news › 91-...

91 percent of new car buyers paid on finance over last 12 months - Motor1.com

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By *ed and WolfieCouple
over a year ago

Gravesend

Many dealers will not take cash as its expensive and an admin nightmare.

Many will not take credit card due to the cost other than for maybe a deposit.

Assuming this is a main dealer of course.

High interest deposit account offsetting debt interest.....Good luck with that. Unless you can get an interest free finance deal from the dealer.

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