Dealer wants funds 24hrs before collection

[TVRBRZ]

Just a quick sanity check for me please, as I've never come across this in 40 odd years of car buying...

Bought a 5 Yr old Honda Civic from a Honda Main Dealer. Deposit paid, car being prepped for sale, cash purchase, no p/ex. Dealer has sent the invoice through and wants full balance payment 24hrs before car collection.

I'm thinking stuff that - I'll do an online funds transfer when we are at the car and I'm happy it has been prepped properly.

I can only assume as it is a large dealership chain that there is a delay between their accounts team and the sales team. In this day and age of instant funds transfer I'm loathe to hand over full funds before seeing the prepared car.

Thoughts? Is this typical these days? (Lotus dealer I bought an Evora from 3 weeks ago was happy to accept funds transfer at handover- but that was a small independent and the salesman phoned hus bank in front of me to check payment)

[Caddyshack]

TVRBRZ said:

Just a quick sanity check for me please, as I've never come across this in 40 odd years of car buying...

Bought a 5 Yr old Honda Civic from a Honda Main Dealer. Deposit paid, car being prepped for sale, cash purchase, no p/ex. Dealer has sent the invoice through and wants full balance payment 24hrs before car collection.

I'm thinking stuff that - I'll do an online funds transfer when we are at the car and I'm happy it has been prepped properly.

I can only assume as it is a large dealership chain that there is a delay between their accounts team and the sales team. In this day and age of instant funds transfer I'm loathe to hand over full funds before seeing the prepared car.

Thoughts? Is this typical these days? (Lotus dealer I bought an Evora from 3 weeks ago was happy to accept funds transfer at handover- but that was a small independent and the salesman phoned hus bank in front of me to check payment)

I wonder if it is to do with fraud protection for them?

I would have no problem sending clear funds as long as they seem legit. Ideally pay an amount by credit card to get their protection included.

[mikebradford]

I don't buy that often. However I've always transfered funds whilst sat in the dealership with the car sat outside ready to be driven away

[The Rotrex Kid]

We ask the same, basically to ensure that the money clears.

Normally what happens when someone wants to do it on collection is that it goes wrong, the bank stops the payment, security checks or something, then the buyer gets all narky and it sours what should be a good time for all involved.

I would suggest you arrange to view the car the day before, then pay for it, then collect the next day to ensure that the money is in.

No dealer is going to let anyone drive off in a car that’s not paid for…… so mitigate any issues by planning in advance.

[Crafty_]

TVRBRZ said:

In this day and age of instant funds transfer I'm loathe to hand over full funds before seeing the prepared car.

Its going to get a wash and be wiped down, if you're lucky they might even get the hoover out. Is it a show stopper if they miss a bit ?

[TVRBRZ]

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

[Deep Thought]

TVRBRZ said:

Just a quick sanity check for me please, as I've never come across this in 40 odd years of car buying...

Bought a 5 Yr old Honda Civic from a Honda Main Dealer. Deposit paid, car being prepped for sale, cash purchase, no p/ex. Dealer has sent the invoice through and wants full balance payment 24hrs before car collection.

I'm thinking stuff that - I'll do an online funds transfer when we are at the car and I'm happy it has been prepped properly.

I can only assume as it is a large dealership chain that there is a delay between their accounts team and the sales team. In this day and age of instant funds transfer I'm loathe to hand over full funds before seeing the prepared car.

Thoughts? Is this typical these days? (Lotus dealer I bought an Evora from 3 weeks ago was happy to accept funds transfer at handover- but that was a small independent and the salesman phoned hus bank in front of me to check payment)

Sometimes there are delays in funds transferring - bank checks or just taking longer than expected - so asking for it to be in their account the day before handover ensures theres no disappointment on the day. Even if it happened to take 30 minutes or an hour, it'd be a long time sitting in a car dealers twiddling your thumbs.

Also makes handover a much more positive experience rather than a "well, lets hope this goes through instantly".

I'd to do it for my car. All monies moved over the day before. Big dealership so happy enough.

Edited by Deep Thought on Sunday 27th October 18:56

[22]

Wife's new car they rang and asked for full payment when the car arrived. I didn't see an issue with it, obviously would be different if not a main dealer.

[TVRBRZ]

22 said:

Wife's new car they rang and asked for full payment when the car arrived. I didn't see an issue with it, obviously would be different if not a main dealer.

Ack. Consensus seems to be I shouldn't be to precious. Cheers all

[mikeiow]

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

[vindaloo79]

mikeiow said:

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

Agree with this. I had one place saying same over £1k deposit so I agreed they could put a made up charge to cover their loss - would have been negligible on £200.

[TVRBRZ]

At the time I thought refusing the credit card was a bit off. That and paying 24hrs before were just little niggles that are only just filtering down through the subconscious. In all other areas the car, the deal and the dealer are good

[AmazingGrace]

I bought and fully paid for a car from vw main dealer, completely unseen. Signed finance docs online (then paid off a few days later - i just wanted the £500 off and 2yrs foc services)
Absolutely nothing to worry about - anything wrong with the car would get put right (car was spot on) and the deal was as agreed.

[mikeiow]

TVRBRZ said:

At the time I thought refusing the credit card was a bit off. That and paying 24hrs before were just little niggles that are only just filtering down through the subconscious. In all other areas the car, the deal and the dealer are good

I wouldn't mind transferring the cash in advance, with some proviso it is subject to my being happy on collection....but the refusal to allow you to protect your money by paying even £1 on credit card is very simply unacceptable to me.

[FMOB]

You having the money is the only leverage you have so I wouldn't give it away until you have seen the car.

The not accepting a credit card is bizarre and lame at the same time, should offered to pay the processing fee and see them squirm.

Plenty of other dealers and cars out there so don't be afraid to walk away.

Out of curiosity, you can make quite a large payment by debit card without needing the marker business with the bank that delays things. Worth a quick question to the bank about it.

Edited by FMOB on Sunday 27th October 20:13

[Louis Balfour]

mikeiow said:

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

Assuming the car is less than £30k.

[peterfield781]

mikeiow said:

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

Very good point.

[peterfield781]

Louis Balfour said:

Assuming the car is less than £30k.

It’s a Honda… ?

[mikeiow]

Louis Balfour said:

mikeiow said:

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

Assuming the car is less than £30k.

True. & more than £100

& AFAIK, you can pay any amount on the card to get protection - even £1.
I'd ask to pay a tenner on credit card. If they refuse that, what kind of a business are they?!

[Louis Balfour]

mikeiow said:

Louis Balfour said:

mikeiow said:

TVRBRZ said:

Caddyshack said:

Ideally pay an amount by credit card to get their protection included.

They wouldn't accept a credit card for the £200 deposit, insisted on a debit card as "credit card fees are too expensive ".

I get the worry about fraud checks, but I'm still not happy with full funds without seeing the finished article (some chips, lightbulbs and a broken indicator need fixing). So I think I'll run the risk of the fraud checks delaying the sale but be philosophical and not be arsy if that happens.

Cheers for all the responses

Not taking credit card for £200 is a big red flag to me.
That is gonna cost them a tiny amount, but give you FULL protection.
Insist on at least some going on credit card. Point out that is for YOUR protection.
Or walk away.

Assuming the car is less than £30k.

True. & more than £100

I did a S.75 claim for £10k (a watch) a while ago. Trying to get Barclaycard to pay out was like trying to invite the pope for a game of naked Twister.