Best way to pay for a car

jesus_thats_gre

Hi Lads,

Am prob gonna buy a car this week with the help of a wee bank loan. The money is obviously gonna be in my band account. What is the best way to pay for the car at a garage say?

Tiriel

when I got a loan for my car I had to bring in the invoice for the car to get the loan.. well it was a car loan.. and the cheque/draft thingie was made out directly to the garage then.. good luck with the motoring

20 Times 20 Times

If you are buying from a garage , having money there is your biggest barging power , they will not want to lose the sale. pay cash and dont be afraid to say , that you will walk away from the deal if it does not suit you . or if you think you can get a few more euros off it , personally i think you are mad buying from a garage you get a lot more for your money privately

kluivert

The best way to buy a car or is it to finance a car. Is that your question.

If your on about financing its got to be a car loan. Hire Purchase and Leasing is not an option i would fancy too much to be honest.

HelterSkelter

Go to the garage, tell them you are paying cash, you should get a decent reduction for that. If not walk. When you agree a price put a deposit down. Then go to the bank, get a bank draft for the balance made out to the garage. This way if someone robs you on the way to the garage the draft is useless to them, only the garage can cash it.

I'd agree with the other poster that you should buy privately, you will get a much better deal. The car I bought 1 year ago privately is still going for the same price in garages today. So effectively I got €1,000 off by buying privately.

Chris P Duck

I think the best way to pay for a car is to get a loan from the credit union. I know interest rates maybe slighlty higher but, they are very resonable and flexible in the credit union. If you miss a payment or need to adjust your payment amounts it is no hassle and you will not get bad credit.

When paying try to pay half cheque/ half cash. That way, if the deal goes smooth and you are dealing with a good sales man, he may give you some cash back to fill the car up with petrol/diesel

If you are buying privately make sure to get the car looked over before you buy it, because when you hand over the cash you have no come back

jesus_thats_gre

Lads to clarify.. I have a few grand in my account to buy a car.. If you were buying in a garage, would you pay by cheque (dont have a cheque book ), credit/debit card or bank draft. Basically trying to figure out the easiest way to give em the money

Seth Brundle

Sarge wrote:

personally i think you are mad buying from a garage you get a lot more for your money privately

you get no warranty though

HelterSkelter

kbannon wrote:

you get no warranty though

Good point.

Ann Elk

a bankers draft will be the easiest for you - but it has to be pre-filled by the bank so it means you can't haggle. Get a draft made out for a deposit, haggle the price and once it's agreed, hand over the deposit and then go back to the bank to get the balance made out on a draft. Some dealers won't accept cash - I know that for a fact.

On a side note, if you haven'y already sorted the price etc, ask which will put you in a better position to negotiate a price, as a straight cash buyer, or if you take finance through the dealers - sometimes if you do the latter they will do you a better deal on the car as they get a commission. If you got approved by the bank, you'll get approved by a finance company. f you do go this way it's useful to note that the interest rate they quote isn't written in stone - the business managers have discretion to waive the rate a bit. Also look at the overall cost of the loan - it's not much use knocking an extra €500 off the price of the car if the loan is going to cost an extra €1,000 in repayments.

Good luck

bazz26

jesus_thats_gre wrote:

Lads to clarify.. I have a few grand in my account to buy a car.. If you were buying in a garage, would you pay by cheque (dont have a cheque book ), credit/debit card or bank draft. Basically trying to figure out the easiest way to give em the money

The easiest way I think is by bank draft, once you have agreed a good price with the garage go to the bank and get the draft made out to the garage. Might be a good idea to have the draft made out for €100 less than the agreed price and bring the rest in cash. When handing over the draft and €100 in cash ask for €20 or so back for fuel. Always worked for me.

eth0_

Surely you have no more bargaining power buying with a bank draft than with your credit card?
I'll be paying with my credit card for the extra peace of mind..

shagman

Pay with credit card, get a new credit card, transfer debt and get 6 months interest free.Pay off loan in 6 months ,cancel card. The gov't does stick you for €40 on the new card though.