Buying a car from a Seat Dealer - How did you pay?

[Richmondo]

Hi guys,

I know it's a bit random but how did you all pay for your car if you purchased it from a main dealer? I left a deposit for mine and want to pick it up on Saturday/Sunday this week but the dealer won't allow me to pay cash or by debit card. They say that in order to pick up the car, the funds need to be sent via bank transfer and cleared 48 hours before collection - does that sound round?

I won't talk about specific numbers but the outstanding balance is over £20,000.

Interested to see if anyone else has come across this in the past or if they are just being difficult. Money is money at the end of the day

Thanks

 

[Jay280]

I picked mine up about 2 weeks ago and payed the outstanding amount by debit card! I had part ex'd though so about half the amount you are talking about.

Sent from my HTC One_M8 using Tapatalk

 

[LillianJacks]

The best advice for buying a used car is preparation. Know what car you want and know what a fair price is. Use websites like Edmunds, NADA, and KBB to get an idea as to the value of a used car and use websites like autotrader and cargurus to get an idea of what other dealerships in the area are charging for the same or similar vehicles. Also if you have a trade-in do the same research on your current car as you're doing on the car you want to purchase. Too many people I know rely on their "I know a guy" car dealer to give them a fair deal. Well how do you know unless you do some research?

 

[BJM]

Money laundering rules mean they don't allow you to pay in cash - which is fair enough. I don't understand why they don't accept debit card - it will clearly show the funds in your account being paid into the dealers account.

Bank transfer is easy enough - just set it up online or through your banks phone app.

 

[Pops848]

Money laundering rules mean they don't allow you to pay in cash - which is fair enough. I don't understand why they don't accept debit card - it will clearly show the funds in your account being paid into the dealers account.

Bank transfer is easy enough - just set it up online or through your banks phone app.

Same thing, money laundering.

I don't know the ins and outs, but had a friend who worked for a motor home place, and they always has this problem with retired folk, they would walk in with £60k cash and ask to walk away with it, couldn't be done!

As mentioned, best to be prepared but the dealer should really highlight this prior to taking a deposit.

 

[SwinDan]

Recently picked up my new seat Ibiza payed the outstanding balance of £15,000 on my debit card on the day I picked it up it is effectively a bank transfer so don't see why they won't except it

 

[csx]

Bought my new Leon for £21500 , swiped on my bank debit card - no problems - I called the bank first to check as it worried me that transactions for this amount could be done instantly , they reassured me that only bonafide motor dealerships have this function in place. As long as you have cleared funds in your account - and the motor dealer is 'legit' and registered - its a straight forward chip and pin transaction.
In my case -All went through instantly without any issues . If the dealer cant do this for you - Id ask your bank first if the dealership you are dealing with are properly registered and cleared for this type of transaction and if not - why not ? ( are they about to go bust ? ) ( something else going on ? )

For me -Given the above was so easy - Im off to see if I can buy a Ferrari ! ( oh to dream ....) but the bank balance says ....00000. Doh !

 

[YorkshirePud]

paid a 4k deposit by debit card and took the rest on finance which has a bad apr BUT im going to pay that off before they get a chance to milk the interest.

Some dealers are just weird.

 

[mehrdadmalekz]

hi, i bought mine in turkey, but it was the similar thing.

they didn't accept my debit card and said it has to be a bank transfer, so i had the salesperson do it via my phone bank account so that if anything goes wrong it won't be my fault such as bank details.

theres a 1 week waiting period to get the car keys due to the paper works, which starts as soon as the transfer is made and they see it (transfer was instantaneous since my bank account was same as theirs)

I had also paid a small deposit fee which was cut off from the original price.

 

[Coxy8329]

My understanding is the merchants can get charged a percentage of the total value of the transaction by the card services provider. This is why some dealerships don't accept large payments by card.

 

[lil3520]

Paid deposit with bank debit card
Paid balance with bank debit card on day of collection.
Would not accept cash from my briefcase

Andy

 

[csx]

Paid deposit with bank debit card
Paid balance with bank debit card on day of collection.
Would not accept cash from my briefcase

Andy

Hmmm - doesnt like pikeys or drug dealers then ! good Man !!

 

[lil3520]

Hmmm - doesnt like pikeys or drug dealers then ! good Man !!

Or pimps !!!!!!

 

[csx]

Or pimps !!!!!!

doesn't come into the equation - you have to go to Mercedes for that kind of cash !

 

[martin j.]

Dealers won't/can't accept cash due to money laundering laws and also loss of profit from bank charges, we now charge a percentage if payment is to be made by any card but if I recall right bank transfer is free and can be done at the time of delivery, away on a parts course so unable to confirm right away.

 

[cupra14]

Bank transfer. A complete pain. In the "old" days I would've paid by bank draft or building society counter cheque. Easy, quick, safe, guaranteed.

 

[Deleted member 103408]

I paid via debit card, called the bank first to warn them I was going to make a payment so it did not get picked up by security but the dealer told me this was normal (eg security check)..

Trouble with any form of cheque even if it is guaranteed is that it can be a forgery so they let the car go and find out the next day its not real.

Personal cheques are even worse as the money can be taken back if there is a problem. My understanding is that the only way they get final payment real time is via debit card or bank transfer (faster payment).

AML is a pain but i am afraid the car business is a prime place that criminals can launder money in volume easily and quickly.