Dealer wants me to pay in full before handover

[Larbor]

Hi,

On Friday I’ll be taking delivery of my Honda E,
The dealer asked me to transfer the funds before then. In the past transfers could take days, but in the UK a transfer is now a matter of seconds. I do it several times a month with my own accounts, so I know it works.

I am a bit reluctant to transfer any money before I’ve seen the car. My preference is to make the transfer there and then.

What do you think?

[RAL7004]

This is the way it works in Germany, too.
The vehicle is then also already registered on the buyer...

[Patte]

In Sweden its a matter of seconds, as you say.
All is taking care of when you come to pick up the car, not before.

But if it's a matter of money transfer from your bank, then it could be as the dealers says.
The transfer may take one day if its another bank.
And, you can always redraw the transfer before midnight the same day the transfer was done.

[iHansz]

This is the way it works in Germany, too.
The vehicle is then also already registered on the buyer...

Exactly as usual here!

[Isow]

Inspect the car the day before handover.
If you are happy, then transfer the money.

[Jaws]

Have you checked your bank will allow a transfer of nearly £30k in a single online transaction? Mine doesn't unless you are a high net worth customer.

[Larbor]

Have you checked your bank will allow a transfer of nearly £30k in a single online transaction? Mine doesn't unless you are a high net worth customer.

From my bank:

Transfers in British Pounds (GBP) to UK beneficiaries are limited to £250k per transaction, £500k per day, and £1m per week. You cannot make more than 50 transfers in 24 hours, or more than 200 transfers in 7 days.

Should be ok.

I think I just like to make sure everything is in order before transferring money. Once it's transferred I have no more stick to slap them with in case something isn't right.

[keithr]

Should be ok.

In my case (paying £10,860 because I was part-exchanging my current car) the bank stopped the transfer just in case I was being scammed. So be prepared for a call from your bank so you can confirm it's a valid transfer. I had to wait in a call-queue for 30 minutes before I could sort it out - such a time waster.

[Larbor]

Should be ok.

In my case (paying £10,860 because I was part-exchanging my current car) the bank stopped the transfer just in case I was being scammed. So be prepared for a call from your bank so you can confirm it's a valid transfer. I had to wait in a call-queue for 30 minutes before I could sort it out - such a time waster.

That's good to know, thanks.
I am doing this from Revolut, and I can usually sort things out really quickly using the app.

[Malcs]

I planned to do an online transfer for the whole amount on the day of collection. Dealer was not happy because as mentioned we can claw the money back. I borrowed one of their loan cars to scoot home to collect a bank card in order to use pin and chip. Went through straight away with Santander without pre-warning the high ticket purchase. Dealer was surprised as I was