pay on wednesday after you have inspected the car. if they wont play ball i'd refuse to pay.
they have over 10k of your money and you have no goods
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I'm sure all will be well but why are you paying on Monday and not Wednesday when you collect the car by debit card?
Hi. I'm not sure, that is just what they have asked me to do (as it is my first purchase, I'm not really sure what is usual). The salesman said that I will be paying by debit card on Monday, and that I can have the car on Wednesday. The only comparison I have is that a VW dealer told me (when I was looking at a Passat) that they would need a bank transfer to be done 24 hours before handover of the vehicle.
Is it usual that you should be able to take the car straight after a debit card payment?
Thanks for your help.
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I'm probably overly concerned, and i believe that if you've paid for the car outright it becomes your property..but in that case why can't you have the car once you've paid, and is it a case of possession being 9/10ths of the law, i don't know but hopefully you'll have chapter and verse soon in this thread, which will be of interest to many i'd wager.
I've been in the horrible situation of collecting truckloads of cars from failed dealerships before, seeing an ordinary chap, just like any of us in tears as he's lost a large amount of money he paid to the dealer only a day or two before is not something i want to repeat.
Debit card doesn't have the same protections as a credit card, i would want to receive my goods once i've paid for them, not when it suits the dealer.
edit...i think BCC is a different scene re the VW dealer.
Edited by gordonbennet on 13/09/2009 at 15:17
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I'm probably overly concerned and i believe that if you've paid for the car outright it becomes your property
I'm not sure of the legalities, but until it's been handed over you may just be an unsecured creditor.
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I'm not sure of the legalities but until it's been handed over you may just be an unsecured creditor.
I'm inclined to think the same, no doubt it would cost an arm and a leg to sort it anyway.
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its only a franchise you say
why would you pay and then come back in two days time
if they go bust you will be just another creditor
dont do it
pay for the car ,take the car
its the only sensible thing to do
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gb me too seen dealers go in an afternoon all the cars vanished
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gb me too seen dealers go in an afternoon all the cars vanished
Something very wrong with the whole situation BB, sales staff taking huge deposits and payments in cash on Monday and the place goes boom on Tuesday... i don't like it and it makes one feel like putting a few lights out.
99.9% SS's situation is fine, but that .1% still worries me.
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just remembered i had a customer give me a deposit this week and they were concerned i was going to live in perpetual luxury on it and close my business
they were consoled with the words that i wasnt here today gone tommorrow but that i was here today gone at 5.30pm
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Thanks for all of the advice so far.
I am certainly inclined to make sure that I pay when I actually take the car, having read all of your comments.
I think I am right in saying that a debit card payment does not need to clear, so there is no need for a clearance waiting period.
Is there any other reason (apart from getting the money ASAP) that there would be a delay? Is there any paperwork that might be done on Monday that would actually give me legal ownership, even if I didn't take possession? Might they put my name in the log book on Monday, so that I would be the registered owner?
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pay at least 1k via credit card, thev you are protected for the whole lot should the dealer go under i believe.
'demo car' are usually loaned as well and thrashed
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A debit payment is taken from your account immediately;BTW a "Visa" debit has the same protection as one of their credit cards.I paid for my last car with both a credit and a debit card(some on each) and took the car away there & then.
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BTW a "Visa" debit has the sameprotection as one of their credit cards.
Thats interesting, i wasn't aware of that.
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Thanks again for all of this advice.
I decided to call another dealership in my area that is part of the same "chain", and ask them, if I paid a deposit on a specific car listed on their website, how long it would take to collect it and how long in advance of the collection I would have to pay. I wanted to do this to see what the policy of the chain was, in case there is some valid reason for the gap.
I was told that if I paid a deposit on Monday I could collect the car on Friday, and I could pay the balance on the day of collection (I explained that I would be paying on debit card).
Taking this, and all of your advice, into account, I will be telling the dealer that I am only going to pay when I collect it.
It is a bit annoying that they have asked me to pay in advance, especially as they know I would need to take time off work on both Monday and Wednesday (rather than just Wednesday).
I wanted to give them the benefit of the doubt in case it was standard industry policy and/or they were somehow exposed if they let me take the car straight after paying, but it seems that neither of things explanations applies.
From their point of view the worst that could happen is that they do any cleaning or other work they need to do, and then I pull out of the sale (which I have no intention of doing) - but then they do have my £250 deposit to cover any preparation costs.
Annoyance aside, I'm not happy to expose myself to £13,000 of risk in the unlikely case that they did go bust, just so that they get my money 2 days early.
Thanks again for all of your advice.
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... I'm not happy to expose myself to £13,000 of risk in the unlikely case that they did go bust, just so that they get my money 2 days early...
Exactly.
And if the garage moan, that is what you must tell them, in the nicest possible way.
The instant your debit card payment goes through, they have your money and they should be prepared to release the goods.
My last two new Fords - one earlier this year - were bought in this way.
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All good advice here. I have bought our last three cars with a few £00 credit card deposit, paid in advance, and debit card payment of the balance on collection.
In theory, if you have an invoice and you've paid, it'll be your car even if they go bust before you collect - but it might already have disappeared on a transporter and you could have a fight with the administrator/receiver.
The other reason for paying on collection is in case you find a defect when you go to collect it. You are in a much better position to refuse it, or get the solution you want, while you still have your money.
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BTW a "Visa" debit has the same >> protection as one of their credit cards. Thats interesting i wasn't aware of that.
ot always so visa cc first 1000
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Drove a brand new Volvo out the dealers on 25 July a half hour after paying the balance of 14500 by Visa Debit. This was a Saturday morning done with chip n pin not even a security phonecall was required.
Don't pay 'till on the day!
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Make sure you test drive it before paying the balance!
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