To pay by bank transfer the day before I collect a car?

[fuckingcovid]

The car I want is 2 hours drive away from me. It looks a legitimate small dealership but they want payment 1 working day before the car is collected by bank transfer. Even if I was happy it wasn't a scam site I would worry they could go bankrupt on the day and I lose everything.

OP you do know you will need to tax and insure the car before you drive it home?

So make sure you have information and a payment method available to do this with you.

My concern is that the part exchange
Figure the dealership has quoted for your car will be reduced when they see your vehicle. Most prices quoted are just a guide and subject to viewing.

Dealerships are no longer able to charge a fee for accepting a credit card hence their reluctance to accept them. The cost to the dealer is about 3%.

I would not have parted with any money until I had viewed the vehicle I wanted to purchase and the dealer had viewed my part exchange.

What about insurance and tax?

I paid for my last car by bank transfer but it was a local dealer that our family have been using for 40+ years, and I'd already seen and test driven the car. No way would I pay 7k for a car is not even seen in person - that way madness lies!

You won't be able to drive the car away until you have insurance etc. in place for it.

If you haven't even seen the car I wouldn't pay in advance.
Go, see the car, pay if satisfied, return and collect it next day.

I've done this op. It was a main dealer though. I bought and paid for the car without seeing it (just a video tour) as it was a few hundred miles away. They then delivered the car to me the next day. I may not have felt so comfortable if it wasn't a main dealer.

I knew what the car was like as I was replacing my old one. It was a year old so still under warrantee and low mileage. They had sorted out the free week of insurance and there was a bit left on the tax. Hope all goes well today.

@whitepebblecactus This is a similar deal and it's a long term dealer with good reviews, not a single car and unless it goes out of business overnight I will be ok I think. I've only paid a deposit which is refundable. I've had a video tour and seen all the pictures and will collect it today. It's 2 years old and still has 3 years warranty so it's as good as it can be. The dealer also offers 6 months warranty.

Of course I've sorted the insurance! It will change over at 12 midday when I go to inspect and collect the car.

I can't tax it without the number on the paperwork as I need the long number. I can do it on my phone as soon as I get the V5.

They explained the bank transfer was for people who had already inspected and reserved the car. Could do with that clarifying on the website.

They have guaranteed the trade in price provided it's in the condition I said it was. In fact it's better than I said, so I have no worries there. If they did get funny I would stand my ground.

Debit card on the day - I bought a new (to me) car for about £13k a year or so ago; I double checked with the bank that no restrictions on paying that sort of amount by card in advance, which also gave them notice of an "unusual transaction" coming up.
I think the dealership had requested bank transfer.
Worked in my favour because they undercharged me sleazy patronising sales guy that should of been paying more attention to what he was doing, so I didn't point it out.

Surprisingly enough, it didn't work when I absent-mindedly waved my card at the terminal, I had to enter the pin!

Now way! If they're asking you to I'd be even more suspicious of their reputation. I would take my laptop and card reader with me and do it there after the test drive.

@Everyday made a good point - phone the bank first to speed things up.

The 6 month warranty may not be much use if you have to take it back to the dealer (2 hour journey) and then they might want to keep it overnight. See if the warranty can be extended to any Toyota dealer.

for someone who is so sure about everything to do with this car as you say you are 'telling the dealer what's what' etc not really sure why you are asking if paying in full upfront was a good idea to start with but it's good that you'renot doing that. good luck with it today.

It's a scam, the car doesn't exist.

I pay a deposit by bank transfer for my brand new Tiguan but obviously that's through a very dealership. No chance would I have even payed the £1500 for my husbands old banger by bank transfer the day before collecting it! That gets paid when I get there, view the car and am happy. I would however compromise and offer to pay a deposit of £100+ on my credit card as that can be charged back in the even of any issues and THEN pay for the car in person by bank transfer.

You don't have to pay all of it on a credit card, as i said above

Right, you still get the protection if you pay only part of it on the card. But you do still have to pay all of it somehow, and if they won't take cards for more than £500, and you don't want to do a transfer, then you're stuffed.

So how's your new car @fuckingcovid?

Another NO
I lost £745 last year to a scam
I’ve learnt the hard way x

@LittleMissRedHat

It's a little beauty. Sale went of perfectly. Bank put through payment immediately. Dealer sorted out tax (gone up from zero to £150!)

Done and dusted in 35 minutes.

Looks great @fuckingcovid, glad it worked out in the end.

@Choochoose Thank you. And thanks for all the great advice here.

It's so easy to scam people, but most people are honest, thank goodness. You do need to be on your toes 😀

🎉

👍

Hooray! Glad it all worked out and everything was legit. Happy driving!