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Yet another UK Import Thread

  • 23-02-2007 8:02pm
    #1
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭


    As some of ye are aware im off soon to get a UK Import but im looking for some tips here.

    Exchange Rate. Who offers the best rate for this. I heard BOI are really bad while Ulster Bank are good.

    Cash or Draft. Obviously if one pays in cash they get a bit of a discount of the seller (5% or a bit more). However carrying £10k Sterling to England with you seems a bit frightning to me. Is there any good way to do this. What are peoples experience with drafts? Are dealers wary of bank drafts.

    eh thats about it really i have all my homework done thanks to the info on here.


Comments

  • #2
    Wishbone Ash
    Registered Users, Registered Users 2 Posts: 25,000 ✭✭✭✭Wishbone Ash


    jank wrote:
    Obviously if one pays in cash they get a bit of a discount of the seller (5% or a bit more)
    Not necessarily. Many dealers turn their nose up at cash as it costs them to lodge it and they don't need the hassle of protecting it.


  • #3
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭jank


    Thats a strange one? Usually they like cash because they can keep it off the books.


  • #4
    Anan1
    Registered Users, Registered Users 2 Posts: 22,815 ✭✭✭✭Anan1


    jank wrote:
    Thats a strange one? Usually they like cash because they can keep it off the books.
    This is a very common misunderstanding. A "cash discount" doesn't actually refer to a discount for paying cash, it's a discount often given if you don't have a trade-in. The price will be the same whatever your method of payment, except perhaps for credit cards or PayPal.


  • #5
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭jank


    OK thanks for clearing that up for me.

    Its a win win situation for me then.

    How about the exchange rate. Where is the best buy here?


  • #6
    Anan1
    Registered Users, Registered Users 2 Posts: 22,815 ✭✭✭✭Anan1


    That I don't know, I use BOI because a friend can get me a staff discount. It's further complicated by the fact that each bank will have different rates depending on the amount. A draft will always be cheaper than cash, though. I'd ring the main banks, see who'll give you a STG£10k draft the cheapest.


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  • #7
    Moanin
    Registered Users, Registered Users 2 Posts: 2,134 ✭✭✭Moanin


    I bought my A4 from a main dealer.Firstly I paid a £1000 deposit fully refundable and then transfered the balance into the garages account.Apparently this is the norm for this garage he told me but never believe a car sales man!


  • #8
    zilog_jones
    Registered Users, Registered Users 2 Posts: 6,638 ✭✭✭zilog_jones


    I paid for my car with a bank draft with no trouble - they don't trust us students with cheque books or anything fancy :) - however this was in this country.


  • #9
    69sparkie69
    Closed Accounts Posts: 46 ✭69sparkie69


    hi..i`m thinking of buying a car in the UK too..talking to a sales guy today,and they wont accept any cash over £9k. because of tax and corruption reasons.. have you declared it, where did it come from..etc.etc. when i explained it to him that it was different over here, he was amazed..maybe that's why we have such a black and corrupted economy here, tribunals etc.
    as for bank draft's can wait up too a week to clear them (5 working days) so make sure you buy the car on the Monday..or you will be there for the weekend... as for money transfers, they are about the best, but can take a day to complete,as some banks require more security clearance than others.. find from the dealer , who you are dealing with, and get his banking details for the money transfer, sort code etc.., and see if your bank deals with them or not. and by doing a money transfer,you are supposed to get a better rate as well. ha ha.( see the f**k**g profits the banks are making..)!!!!
    sparkie.


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