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First time buyer - Payment?

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  • 10-06-2024 11:43am
    #1
    wanderingaround
    Registered Users Posts: 24 ✭


    Hi everybody,

    This might be a stupid question, but this is my fist time ever buying a (new) car and I'm not Irish so no idea how this works here. In terms of payment, I've decided to get a loan from the credit union sa they offer nice conditions for hybrid cars, but they are taking their sweet time to give me a final answer and I would like to get the car as soon as possible.

    My question is, once I pay the deposit to the car dealership, when would I pay the rest? Would that be when the car is delivered? Does it depend on each car dealership terms and conditions or is there like a general norm? I'm trying to foresee when I could count on having the car, as the dealership gave me an approx idea of delivery times, but I obviously will wait for the CU to approve the loan before taking any further steps.

    If someone can shine some light on this, I would really appreciate it 😊

    Thanks!



Comments

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    #2
    User1998
    Registered Users Posts: 6,389 ✭✭✭User1998


    Thats a question for the dealership you’re purchasing the car from. Each dealership will be different.



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    #3
    wanderingaround
    Registered Users Posts: 24 ✭wanderingaround


    thank you for your reply! I’m waiting to hear back from them, but in the meantime I wanted to know other people’s experiences



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    #4
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,183 CMod ✭✭✭✭spurious


    Remember your credit union may have a limit on transfers from your account to newly added payees (often €1000) so you may have to do a number of transfers over a number of days.



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    #5
    wanderingaround
    Registered Users Posts: 24 ✭wanderingaround


    https://www.boards.ie/discussion/comment/122242094#Comment_122242094

    that’s a good point that I hadn’t thought about, thanks a lot!



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    #6
    Del2005
    Registered Users Posts: 18,984 ✭✭✭✭Del2005


    Get a draft from your credit union(CU) made out to the garage, ask for their trading name to be put on the draft. As you're going to be picking it up during business hours they can call you CU to verify if they want, when I got my new car the dealer just had a quick look at the draft and handed me the keys.



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    #7
    wanderingaround
    Registered Users Posts: 24 ✭wanderingaround


    https://www.boards.ie/discussion/comment/122253206#Comment_122253206

    that's really handy, thanks a lot for the tip!



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    #8
    cr-07
    Registered Users Posts: 178 ✭✭cr-07


    I recently purchased using a CU loan (€29,000). Instead of getting the funds into your CU account, you can directly send it to the dealer. Just get dealers IBAN etc and give it to the CU.



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