Financial advice please

Discussion in 'The Beginner' started by lifeson, Sep 28, 2010.

  1. lifeson

    lifeson Read Only Funster

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    Just wondering if there is any advice for paying for a large purchase that would give us some sort of protection in the event of ithe deal or van going pear shaped.
    I believe paying part by credit card gives protection under section 75 for purchases upto £30,000, but what about purchases over £30,000?
    I have already paid £2,000 deposit on a credit card, and the balance is due to be paid on a debit card (dealer request - bankers drafts not accepted).

    Also,
    Is there an account which we can move the balance into for approx 2 months where we would gain any interest but still have instant access - or is not worth the effort? (money is in a standard account at the moment)

    TIA :thumb:
     
  2. rainbow chasers

    rainbow chasers Read Only Funster

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    There is not alot of interest to be had anywhere, and in a couple of months, you would gain very little.

    You should be able to pay as you wish, apart from cash as that would be scrutinised under money laundering regulations. Any purchase over 10k will be questioned. To avoid this, dealers ask for a tracable payment to prove you are a genuine customer.

    Bankers drafts along with cheques are often faked nowadays by criminals, who will spend the money on large cost goods - such as motorhomes and boats. So the dealer needs to be wary...it takes up to 6 months for a cheque to bounce! Just because it is clear in the account, doesn't mean it is clear. They can claw it back anytime - which leaves a dealer a little exposed.

    Paying by debit, or bacs is therefore the preferred method - though people dislike handing over bank details, as much as the dealer does - so debit card is prefferred. Credit cards should only be used if you are paying a small amount that will be cleared at the end of the month, or the interest on that will strip you of a fortune.

    If you want to be dead smart - you could pick up one a year or so old, which will come under 30k (depending on what you are buying) Put that on the credit card, and then pay the card off with the cash.

    Card has made the payment, under 30k - so protected!
     
  3. Johns_Cross_Motorhomes

    Johns_Cross_Motorhomes Trader - Motorhome & Accessory Sales

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    No dealer will accept a credit card in payment unless the buyer pays the merchants fees which could be over 2% of the amount paid.

    If you don't trust the dealer, don't buy from them is the real answer.

    Peter
     
  4. atakd

    atakd Read Only Funster

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    What do you mean by the deal going pearshaped. Are you not collecting the van when you pay the balance? If you are then the deal is done. If the van fails afterwards then I assume the warranty (or in extreme circumstances the sale of goods act) will sort it out. I can't see you being able to reclaim money from any payment method if a secondhand van has problems.
    Andy
     
  5. Mixter

    Mixter Read Only Funster

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    Just dont pay up in full BEFORE youve checked the van over (on collection day #) and the keys are in your pocket.

    # i say collection day, as my own van ended up with faults, and was 'worse' on collection day due to being 'serviced' (my ar$e), than when i test drove it at the outset of the deal! I hadnt paid 'up front', but it would have been all th same if i had.
     
  6. Jim

    Jim Ringleader

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    It really is "buyer beware" Even with the very best dealers, once they have the money, the relationship changes and it can sometimes be very difficult to get the things you want.

    The best insurance you can buy is due diligence, pay someone to check it over before you buy, go through the the paperwork with fine tooth comb, (many people never see paperwork till the deals done, ask to see it before you pay) These measures along with a thorough test drive and a demonstration that everything works as it should will give you peace of mind when you hand over the do$h.

    Only when you are 100% happy, should you pay, even if this means delaying the pickup. DONT fall for the old "pay now , take it away and we will book you in next week to get that fixed"

    Best of luck:thumb:
     
  7. Terry

    Terry Funster

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    Hi best to check everything before paying :thumb:print off and check everything on the attached lists if applicable :thumb: Do not be tempted to cut short your introduction on how things work and make sure the water heater and fridge work so take a small thermometer to stick in the ice box for 20 / 30 mins to make sure it is working :Eeek::Rofl1:
    terry
     

    Attached Files:

  8. Terry

    Terry Funster

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    Forgot to say buying is a 2 way thing :thumb: if you do not feel comfortable that the dealer is not going to rectify any faults , then find another dealer :thumb:
    see another att list
    terry
    Tick off when Checked


    External check

    Check external of vehicle for damage, side panels, bumpers, roof, lights.

    Condition of locks, hinges, sliding external beeny boxes, hatches etc.

    Check all external vents.

    Check any “extras” fitted are working, i.e., leisure batteries, steadies, sat dish, solar panels etc (Operating manuals supplied).

    Check gas bottles/tank/regulator/straps/condition/locker.

    Base Vehicle

    Engine service history. Cam Belt??

    Jack, wheel brace and spare fitted/good condition

    Check all lights and electrics working (wipers, heater, horn, windows)

    Check mileage.

    Full set of keys inc any spares + RED KEY?

    Spare alarm fob.

    Road tax?

    MOT & does it tally with speedometer/registration number?

    Vehicle handbooks.

    Vehicle Logbook, check vin plate.

    Check plated weight.

    Check condition of all tyres.

    Check condition of engine oil and filter for recent service. Check for drips.

    Air filter clean?

    Engine coolant is it clean and smells ok?

    Brake fluid (is it clean)?

    Power steering fluid (is it clean)?

    Check operation of wind-out awning.

    All other external trim/decals.

    Internal Check

    1st impression, overall smell of MH, is it clean & tidy??

    Check all water system to include toilet flush and condition of ALL taps.

    Damp/habitation test /cert?

    Check corners/inside cupboards for damp.

    Check gas systems (heater, fridge, oven/hob) +electric ignition on hob.

    Gas test Certificate?

    Check operation of hot water/gas boiler/blown air heating??

    Check all 240v operation/sockets (using 240v plug tester)

    Check operation of all cupboards and doors/catches.

    All windows open/close properly.

    Check bathroom fittings for cracks, check shower door/cupboard doors etc.

    Seat swivel, operates ok?

    Check operation of control panel.

    Removable carpets supplied?

    Check all handbooks supplied.

    Check 12v sockets/circuits (TV outlet, fridge 12v, electric step, etc).

    Check all internal lights.

    Check free operation of blinds and curtains .

    Sliding furniture (beds, under seat baskets, kitchen shelves, TV shelf etc)

    Check the pull down bed struts and other bed/beds.

    Check condition of mattresses/seat cussions.

    Check the Toilet operation/flush and cassette (SOG Fitted??).

    Check the condition of windows for scratches.

    Check any inside trims and base boxes/seat storage areas.

    Check the table for repairs or dents.

    How many belted seats?

    HPI Check.

    Check vendors ID using his driving licence to match vehicle registration doc.

    NOTES


    Base vehicle …………………………………………………………………………

    Model ………………………………………………………………………..

    Year ………………………………………………………………………..

    Mileage ………………………………………………………………………..

    Tax till ………………………………………………………………………..

    MOT till ………………………………………………………………………..

    No. of owners ………………………………………………………………………..



    All other notes……
     
  9. lifeson

    lifeson Read Only Funster

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    I dont know really, just worried as this will be the most expensive thing we have ever bought (yes more than we paid for our house :Eek!:)
    Not that I dont trust the dealer but one of the good/bad things about the internet is the wealth of information available.
    I have read as many good reports about the dealer as bad reports, same with the van makers people who love em, people who would never buy another, even apparent claims under warranty not honoured but its probably the same with anything you can buy nowadays.
    My own experience so far has been fine and the van looks top notch.

    Its a brand new van so hopefully nothing to worry about and they are providing a night stopover point on the collection day so we can try everything out and get its orted next day if needed. Couldn't see them saying "yeah its OK pay the balance after you have had a night in it" :Rofl1:
    My concern is with the PX deal they have given me - *subject to appraisal*
    I have fears they will try and pull something out of the hat and devalue the PX thus pushing up the balance
     
  10. rainbow chasers

    rainbow chasers Read Only Funster

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    You may pick up some gremlins as ANY new van owner will tell you. That is the way it goes. If you want something time-proven, and where someone else has gone through the gremlin stage, pick one up a year or two old. You will save quite a bit, and not have the teething problems, nor the initial depreciation to worry about.
     
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