any - collecting new car from brokers | Motoring discussion | Back Room Forum

Mon 7 May 2012 00:51

any - collecting new car from brokers - motorprop

sometime in the next few days, I shall be collecting and paying for a new Teutonic motor from a broker , on the other side of the country.

He will have paid for it by then from the main dealer, and I will pay him in full - no finance involved - not far off £40 k and drive away after calling the insurers whose quote I have.

I have met the guy and he seems straight - but it's a large enough sum to tempt some people.

My question is - what if any checks should I be undertaking apart from the usual document check - the log book will follow as its ' Trade reg ' so I might not have anything apart from the broker's invoice. Will an HPi type check reveal if any finance is outstanding on a car fresh off the boat, does finance get registered immediately ? This is my main worry.

Car will be a 12 Reg

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Mon 7 May 2012 14:14

any - collecting new car from brokers - tony g

Hi,
If the car is already registered ,make sure you get a copy of the reg doc from the supplier,then ring the DVLA ,to confirm the cars registered to who it says on the V5.
Do a full HPI check on the day you pick up the car ,make sure its an online check ,the text version doesn't cover finance .Remember that finance companies are not legally required to register their Interest with HPI although the usually do .Even if they don't ,and they have financed it ,they still retain title to the car .Finally do keep a print out of the HPI check .The length of time it takes a finance company to register their interest ,is usually the same day,but it can vary .

When it comes to collecting the car ,can I suggest that you pay as you collect it .If you pay by BACS transfer it will show within an hour in the dealers account .its a system that I use all the time without a problem .Check that's possible with your bank and the dealers bank ,my bank the nat west doesn't charge for the service .
Regards

Tony g

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Mon 7 May 2012 15:50

any - collecting new car from brokers - SlidingPillar

Tell your bank. My HSBC account is limited to £10 000 per day on a normal internet controlled BACS transfer. I think they claim money laundering regs are the reason, but you may be able to do more if they know in advance.

Less than £10 000 my brother paid and drove away in a second hand car from a dealer and used his bank card having first checked the amount was in his account.

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Mon 7 May 2012 15:56

any - collecting new car from brokers - Bobbin Threadbare

Tell your bank. My HSBC account is limited to £10 000 per day on a normal internet controlled BACS transfer. I think they claim money laundering regs are the reason, but you may be able to do more if they know in advance.

Less than £10 000 my brother paid and drove away in a second hand car from a dealer and used his bank card having first checked the amount was in his account.

Yes - I have bought a car with my debit card because it was way under £10k. However, paying a deposit on a house needed two separate transactions and a call from the bank each time. I don't think there are many banks that would charge but it's worth checking!

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Mon 7 May 2012 22:18

any - collecting new car from brokers - motorprop

yes, my plan is to BACS once I have physical sight of the vehicle and docs. There might not be a V5 at this early stage - this being ' Trade Reg ' and the car will have come off the transporter 48 hrs beforehand.

Will DVLA divulge details to a 3rd party ? I will try, good suggestions

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Mon 7 May 2012 22:50

any - collecting new car from brokers - daveyjp

Too late now, but these are questions to ask before ordering. There are plenty of brokers who don't leave you wondering if they are legit.

I would only pay final amount to a dealer and would expect to be the first keeper, not be part of a trade sale set up to secure a discount and possibly have to wait 3-6 mnths for a V5.

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Tue 8 May 2012 01:35

any - collecting new car from brokers - motorprop

Too late now, but these are questions to ask before ordering

Not really, these are to be asked before paying. Haven't risked a penny yet , car ordered

' on trust ' without a deposit. I figure about £4k is sufficient compensation to be 2nd on log book but still Ist owner . It won't matter in 5-6 years.

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Thu 21 Jun 2012 13:25

any - collecting new car from brokers - mikem004

So how did this go?

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Thu 21 Jun 2012 18:37

any - collecting new car from brokers - motorprop

Car in our possession just over a month, everything perfect , docs due any day

The only surprise was finding out there's no spare and the runs flats on it cost £250 a pop .. so hoping they won't pop

Thanks for asking

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