How did you pay for your Cali?

[Amarillo]

We paid by debit card. At about the same time we took out an £11,500 cash advance on a creditcard: 3% fee and zero interest for 21 months, so that works out at 1.71% APR. That cash remained in a Santander 123 account at 1.5% interest so the marginal rate we paid was 0.21%. It gave us a greater emergency cash reserve while travelling than we would have otherwise had.

 

[B J G]

Second hand: cash. Lots of cash.

Can't pay cash in UK, comes under money laundering regulations.

 

[Volkywagen]

Can't pay cash in UK, comes under money laundering regulations.

yes you can. not all at once but certain amounts over time is allowed

 

[B J G]

yes you can. not all at once but certain amounts over time is allowed

Have bought at least 5 cars, over time and different makes, where the dealer categorically stated that cash or even cheque could not be accepted. Direct Debit and Bank transfers OK. The money has to be traceable, paper trail required apparently.
My experience on the issue.

 

[Andyclockwise]

Never had a problem paying for a car in cash myself, I suspect the dealer just did not want the hassle of counting it and paying into the bank.

 

[Amarillo]

Have bought at least 5 cars, over time and different makes, where the dealer categorically stated that cash or even cheque could not be accepted. Direct Debit and Bank transfers OK. The money has to be traceable, paper trail required apparently.
My experience on the issue.

I find this mistrust in society disturbing. What happened to innocent until proven guilty. I cannot even take my son out of school 30 minutes early without proof of appointment! Why did society become so distrustful?


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[jts46]

We paid cash for ours all of £34,000

 

[Mr & Mrs B]

We had VW finance arranged so we could get the extra dealer discount and then paid the finance company with a bank transfer a month later.

 

[Velma's Dad]

Depending on which bank you are with, the limit is now £25k for an online transfer as I found out when I purchased mine from a private seller.

Yes it will vary from bank to bank, but also between customers and circumstances, as I have found out (eg) when making stage payments on a building project. Certainly, online payments well above £25k are entirely possible but the actual amounts that will trigger "Computer says No" depend on the bank's fraud prevention algorithms. Unfortunately the bank will not disclose to you over the phone what the actual limit will be, you have to try it and see.

 

[kave]

Wired total amount 1.5 week before pickup to a austrian vw reseller. I was happy to see my car existed when I picked it up.

 

[WelshGas]

I find this mistrust in society disturbing. What happened to innocent until proven guilty. I cannot even take my son out of school 30 minutes early without proof of appointment! Why did society become so distrustful?


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I think the reason is fairly obvious. There are sections of society who will not accept the rules and regulations that the majority have agreed to via the Democratic process that elects local and national representatives to agree and action these rules and regulations for the common good.
Hence the need to provide evidence to take your son out of school early. Obviously there are some parents who do not value their childs education highly and see the time spent in school an imposition on their own activities.
The only way this will change is if society has a majority that wishes to change these rules.

 

[gvick]

I work in finance and it’s only credit cards under the consumer credit act that offer protection in the form of if goods are not fit for purpose or if they are not received etc.
When buying over the net for anything always uses a credit card for this reason and an extra layer of fraud protection.

Personally if it was my money I would pay by chaps (electronic payment same as house purchase) BUT I would get the dealers banks details in person. Never use details supplied by email - we have had fraud cases where fraudsters hack your email and give you false account details (about 6-12 cases a year).
Then finally ensure your sure - because once the money is sent there is no way of getting it back.

 

[Velma's Dad]

Never use details supplied by email - we have had fraud cases where fraudsters hack your email and give you false account details (about 6-12 cases a year).
Then finally ensure your sure - because once the money is sent there is no way of getting it back.

Good and extremely important point - always need to authenticate the recipient bank details for any large payment mandate. Unfortunately it seems a lot of people regard it as the bank's responsibility to ensure that they don't get scammed, and then get a big shock when the bank (quite reasonably) says "well, you instructed us to pay money to that bank account, so it's not our fault".

I think I read somewhere that bank payment systems are soon going to be changed to include a matching check on the payee name, although I assume that won't be perfect.

 

[WelshGas]

Paying the Dealer, I just informed the Bank that I would be paying £55,000 to the Dealer on such a date using my Debit card. They said that there might be a phone check at the time. In fact there was nothing. The transaction just went through.

Paying a person was a little more involved. I’ve used my banks internet banking app direct to the sellers account, with them present, and notifying the bank beforehand.

 

[Bellcrew]

I work in finance and it’s only credit cards under the consumer credit act that offer protection in the form of if goods are not fit for purpose or if they are not received etc.
When buying over the net for anything always uses a credit card for this reason and an extra layer of fraud protection.

Personally if it was my money I would pay by chaps (electronic payment same as house purchase) BUT I would get the dealers banks details in person. Never use details supplied by email - we have had fraud cases where fraudsters hack your email and give you false account details (about 6-12 cases a year).
Then finally ensure your sure - because once the money is sent there is no way of getting it back.

When I bought my van it was through CHAPS all OK except I had to ask and then demand the garage issued a proof of purchase receipt.
The garage insisted that the bank records were sufficient, I pointed out that I get a receipt in the pound shop so proof of purchase/VAT payment was hardly an imposition.

 

[john mar]

I paid with a debit card and I was wondering would there be a query by nationwide .No the money went through
no charge just as if you were buying a loaf of bread.A bit scary to think how easy it is.

 

[Borris]

Paying the Dealer, I just informed the Bank that I would be paying £55,000 to the Dealer on such a date using my Debit card. They said that there might be a phone check at the time. In fact there was nothing. The transaction just went through.

Paying a person was a little more involved. I’ve used my banks internet banking app direct to the sellers account, with them present, and notifying the bank beforehand.

Same here. I've used this method on numerous occasions and there's never ever been an issue. The key point as WG has mentioned is to inform your bank first.

In the case of our present Cali I paid the vast bulk using this method but had a small amount on VW finance in order to qualify for the very cheap 2 x service package (£99 if I recall correctly). I then paid off the finance immediately after the first months payment had cleared.