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Buying car with debit card

nadger
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Registered: 13-04-2007

Buying car with debit card

Decided to change car this week - nothing too posh just 2008 Kia Rio.
Current car is 2002 Rio that I bought in 2006, on eBay, for a whole £1650  Smiley
Was pleasantly surprised to find that, when I collect on Friday, I can pay in full by debit card so no need to wait for cheque to clear or get bankers draft.
Like most I've used debit card for shopping but never thought of using it for larger purchases.
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Re: Buying car with debit card

Paid for my last two cars with debit card, as you say much easier Smiley
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nadger
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Re: Buying car with debit card

Salesman was telling me that last Friday a lady was trying to pay £10,000 balance and transaction kept failing despite money being in her account.
I imagine she got quite flustered.
hmarshy
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Registered: 09-08-2010

Re: Buying car with debit card

I did it to buy my current car in 2007 for the outstanding sum of about £14,000!
I can't remember the exact process but I had a telephone call with the bank and they gave me authority to do the transaction within the next 30 minutes.
The salesman said this was common practice.
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Howard
itsme
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Re: Buying car with debit card

Surprising they except card payments, other than for the deposit, as main dealers are operating on a 2% margin so processing fees will bit into this.
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Re: Buying car with debit card

credit cards they won't let you because of the fees, they don't seem to levy fees on debit cards in the same way.
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acr
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Re: Buying car with debit card

Debit cards (like cheques) are always charged the same price for the transaction irrespective of the transaction value.  So a transaction of £1.50  would be charged the same as £15,000.
Credit cards are always charged as a percentage of the transaction value.


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Re: Buying car with debit card

Possibly best way to pay using a card.
I Purchased my current car for £2000 from a private buyer but they only took cash, quite a worry (at least for me) carrying around that much in cash as most I normally have in my pocket is £50. (on a good day)
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Re: Buying car with debit card

Don't think the same protection is available for purchases using debit as with credit card such as the company going bust before delivery, etc.
But if you pay a deposit of at least £100 with a credit card then you are covered for the full amount. See here.

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Re: Buying car with debit card

One of these days I'll (try to) buy a new car with a small leather purse of gold sovereigns. I look forward to seeing the look of horror on the salesman's face as he mentally debates turning a customer away. The trouble is I'm too thrifty, my 12 year old Sintra must have at least another 70,000 miles left in her.
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Re: Buying car with debit card

You will be well out of pocket, I think a sovereign was 21 shillings in old money or one pound ten pence in today's money.
Of course it's worth a lot more these days due to the price of gold which changes many times in one day.
? What's a Sintra
nadger
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Re: Buying car with debit card

Googling found this http://en.wikipedia.org/wiki/Opel_Sintra
This time I bought from Kia dealer - one thing that worried me was stories I've heard about people getting loans against car log book that don't show on HPI check.
pierre_pierre
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Registered: 30-07-2007

Re: Buying car with debit card

its a palace near Lisbon, been there, seen it done it

The Sintra National Palace (Portuguese: Palácio Nacional de Sintra), also called Town Palace (Palácio da Vila Vila=Town) is located in the town of Sintra, in Portugal near Lisbon. It is the best preserved mediaeval Royal Palace in Portugal, having been inhabited more or less continuously at least from the early 15th up to the late 19th century. It is an important tourist attraction
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Re: Buying car with debit card

The ole Sintra is pretty reliable, except for the horrible side terminal battery which lasts about 18 months (ker-ching £180!), and is very comfortable to drive long distances. The thought that front end collision crush resistance is just slightly more than a chinese aluminium take-away container is a bit of a niggle.
Coincidentally I bought it almost new (57 miles on clock) using the debit  card, though I'd warned the bank first.
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kmilburn
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Re: Buying car with debit card

Quote from: dvorak
credit cards they won't let you because of the fees

Not necessarily true,  I purchased a new Motorbike, and a used Car from a main dealer,  and they both accepted credit cards for  the full amount,  and I didn't pay extra for the privilege.  Nice and handy with the 0.5% cash back Smiley
However,  I know of other dealers who would only take a deposit on credit card and a debit card for the rest.