Best ways to pay for new motorhome. (1 Viewer)

Nigel&Debbie

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Hi, We have just purchased our 1st new motorhome, and take delivery on March 5th (new number plates).

When we purchased it at the begiunning of December, we put £2000 deposit via credit card.

The company is asking that we pay balance (£48,000) on or around the 7th January. The balance will be paid from savings as opposed to a specific bank loan.

Section 75 of the Consumer Credit Act 1974 only covers purchases with credit cards costing bewteen £100 and £30,000 .

Advice please - what is the best way to pay the balance so that I have some protection should the company go bust between now and the 5th March.
 
Nov 21, 2012
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iam a newbie
Hi, We have just purchased our 1st new motorhome, and take delivery on March 5th (new number plates).

When we purchased it at the begiunning of December, we put £2000 deposit via credit card.

The company is asking that we pay balance (£48,000) on or around the 7th January. The balance will be paid from savings as opposed to a specific bank loan.

Section 75 of the Consumer Credit Act 1974 only covers purchases with credit cards costing bewteen £100 and £30,000 .

Advice please - what is the best way to pay the balance so that I have some protection should the company go bust between now and the 5th March.

Could you not pay the balance in 2 transactions that's what i did , that way you have cover on 2 separate , payments ???? . just a thought !!!

Regards Paul
 
Nov 21, 2012
22
12
essex
Funster No
23,752
MH
c class
Exp
iam a newbie
Hi, We have just purchased our 1st new motorhome, and take delivery on March 5th (new number plates).

When we purchased it at the begiunning of December, we put £2000 deposit via credit card.

The company is asking that we pay balance (£48,000) on or around the 7th January. The balance will be paid from savings as opposed to a specific bank loan.

Section 75 of the Consumer Credit Act 1974 only covers purchases with credit cards costing bewteen £100 and £30,000 .

Advice please - what is the best way to pay the balance so that I have some protection should the company go bust between now and the 5th March.

Could you not pay the balance in 2 transactions that's what i did , that way you have cover on 2 separate , payments ???? . just a thought !!!

Regards Paul

Also forgot to mention , Good luck with the new m/h , hope you enjoy like we have ....

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jhorsf

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May 15, 2009
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This is not the practice I am use to I would not pay until I had inspected on collection as you say they could go bust burn down anything why should you pay before delivery
 

tonka

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You pay the balance when you collect the vehicle. When you are there and have checked its all ok..
Debit card, simple.... Costs the dealer about 25p for the transaction. All you have to do is arrange funds into current account on that day, perhaps let the bank know as well that you will be making a big transaction. Worst thing that will happen is a security check on the phone while you are at the dealers..
Bought many cars and vans this way.

Why would they want the balance before you pick up ??
No way would I do that !!!!! Be wary !!!!

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Last edited:
Aug 27, 2009
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You are a braver man than me, you have already given a substantial deposit dont give them another penny untill you have checked the van thoroughly then as already said use a debit card or CHAPS same day money transfer.
 

keith

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If a dealer said that to me I would more than suspicious, I would refuse to pay anything until I had inspected the MH and was satisfied with it.

Too many times we hear of dealers saying one thing then not doing it, and once they have your money ...................... anything could happen.
 

lorger

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Hi and welcome

Like the others I wouldn't pay a penny more until the pick up day, if they can transfer founds for houses on the day then they can do it for this amount with no problems.

If you pay the dealer has no incentive to get your van to you as he already has his money.

Good luck

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Nov 6, 2008
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I would go along with the rest on this one. Pay the balance when you are satisfied the vehicle is to your expectations.

Craig
 
Jul 2, 2011
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As they have £2000 of your money and you no doubt signed something on the day agreeing to their terms, you may be stuck now with paying the balance early.

Paid ours on the day, checked with the bank and got different stories, one person said there was a £30000 limit per transaction, another said no limit. I didn`t want to take the risk of having all the money in one account only to find that after the first transaction of £30000 it was a limit `per day`(just really expecting something to go wrong). So I transferred part of the money to a different bank a few days before and paid with two separate debit cards.
 
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I would go along with the rest on this one. Pay the balance when you are satisfied the vehicle is to your expectations.

Craig
Also, take a gas bottle,fill up the the water tank and give EVERYTHING a test before you pay up.
Too late on your first trip to find something is faulty and you will be angry about it.
I seen threads on here about new motorhomes that play up.

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Terry

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I agree with Joner ::bigsmile: I would be interested in Peters (JCM)reply to this ::bigsmile:
If I were paying 50k for a van I would be all over it like a rash checking EVERYTHING :thumb: give them a call a couple of weeks before you pick thevan up and let them know you are going to check everything is Ok with the van before you pay :winky:
The only reason I can think of for paying for the van months before you take delivery is they want to use your money to pay winter's overheads :Smile::Doh:
Terry
 
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We have always paid for our vans by bankers draft on the day we pick up the van.
The only way the dealer can justify early payment is if the van is already in stock and you are delaying the delivery date.
You could overcome this if you have somewhere of road to store the vehicle by getting the dealer to deliver it to you on trade plates and then register it yourself in March.
Check first if your insurance company will cover you on the chassis no.
Whatever happens don't pay before inspection and collection/delivery.
 
7

7735

Deleted User
Definately do not pay the balance until you collect the vehicle. Motorhome delivery dates are renowned for getting extended sometimes by a couple of months or more. Dealers also fail quite frequently and although you may be covered for compensation on your visa card it will be a long and drawn out claim. I would,nt want several months sleepless nights.

spongy
 

Peter JohnsCross MH

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My policy is that payment is due on the day when the van is handed over to the customer unless there are specific reasons for payment beforehand.

Peter

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Mar 21, 2009
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Why do they require early payement? Pay on pick up if possible.
What happens if you pay in full and then they go broke:Sad:
 

voyagerstan

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as everyone says keep hold of the dosh better in your bank than theirs anything can go wrong . do not pay up till completley satified .if they dont want it that way there are plenty more reputable dealers about .:rain::rain::restmycase::restmycase:
 

Terry

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My policy is that payment is due on the day when the van is handed over to the customer unless there are specific reasons for payment beforehand.

Peter

Hi Peter, what would be the reasons behind wanting payment? I always thought the dealer paid after the sale :Smile: unless the dealer gets a bigger discount for paying with order?
Terry

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philk

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Early payments

Good call Peter, ethical as usual. Several things come to mind: when Hymer UK were floundering, Hymer AG withdrew credit facilities and Hymer UK had to pay in advance, maybe the company are outside banking covenant and the net result is similar. Although we have never needed it we have always taken a small amount on HP. Normally for the term we intend to keep the motorhome and if you borrow a really low amount you will get credit. The finance act makes the funder responible for the whole purchase, no matter what your percentage borrowed, great in case you have any future disputes such as merchantable quality etc. Borrow a little and this will only be signed on day of purchase, your risk is thereby reduced.

Phil
 

rainbow chasers

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I wouldn't pay for anything up front unless the van is there, and you at least have the V5 & receipt to send off in your name. That way if they do go up the khyber, you can get your van back from the liquidators!

Reasons may be cashflow related - buying the next vehicle.


As for paying for the van - bank loans are cheaper than finance, or if you think smart - put it on two credit cards - THEN TRANSFER to two new cards on 0% balance transfer......bit of a faf, but you won't find an interest free loan of that amount - which is effectively what you would have - just DO NOT use them after- as soon as you do, the interest activates.
 

teddybard

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Hi, We have just purchased our 1st new motorhome, and take delivery on March 5th (new number plates).

When we purchased it at the beginning of December, we put £2000 deposit via credit card.

The company is asking that we pay balance (£48,000) on or around the 7th January. The balance will be paid from savings as opposed to a specific bank loan.

Section 75 of the Consumer Credit Act 1974 only covers purchases with credit cards costing bewteen £100 and £30,000 .


Advice please - what is the best way to pay the balance so that I have some protection should the company go bust between now and the 5th March.


Dont pay a penny more till you collect it
and
Take someone who knows motor homes with you to do an inspection
before you pay::bigsmile:

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Peter JohnsCross MH

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As for paying for the van - bank loans are cheaper than finance, or if you think smart - put it on two credit cards - THEN TRANSFER to two new cards on 0% balance transfer......bit of a faf, but you won't find an interest free loan of that amount - which is effectively what you would have - just DO NOT use them after- as soon as you do, the interest activates.

Don't think that will work as it will not be the originall transaction and it also involves two lenders, minefield for the legal profession!

As to reasons why, I cannot comment on how others run their business for obvious reasons.

Peter
 
Jun 17, 2012
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Hi, We have just purchased our 1st new motorhome, and take delivery on March 5th (new number plates).

When we purchased it at the begiunning of December, we put £2000 deposit via credit card.

The company is asking that we pay balance (£48,000) on or around the 7th January. The balance will be paid from savings as opposed to a specific bank loan.

Section 75 of the Consumer Credit Act 1974 only covers purchases with credit cards costing bewteen £100 and £30,000 .




Advice please - what is the best way to pay the balance so that I have some protection should the company go bust between now and the 5th March.

I think there is no doubt you have been advised to pay on day of handover.


I bought my MH privately. I handed over a deposit but arranged to pay by bank transfer. Not CHAPS or Online or whatever but person to person in the bank, ( I first checked that they also banked with same bank as me).
No charge, no hassle and instant transfer of funds to them and keys to me.
As it's business then pay with a debit card, any amount but as previously stated, the bank may ask the vendor to ring them to confirm transfer with yourself.
You can contact your bank in advance to warn them of forthcoming large transfer to take place. NO RISK AND NO COST.
All the best and enjoy.
 

callumwa

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Pay nothing more until you collect the van, have inspected it VERY THOROUGHLY, tested everything works as it should and the keys are in hand....

:thumb:
 

lindyloot

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When we brought our van we paid deposit then nothing untill the day of collection , by bankers draft:thumb:
 
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Nigel&Debbie

Nigel&Debbie

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Thanks for all the advice.
As a direct result of this advice and quoting the web site, the dealer has changed his tune. The initial reason for wanting payment on 7th January is that we bought a 'stock' vehicle and it was our decision to wait until March to get latest registration plate.
The latest compromise is that I take delivery of vehicle mid January, as an unregistered vehicle, and keep on driveway until 1st March (approx 6 weeks). At which point they will register vehicle for me. I pay for vehicle when I get it in January.
Seems fair compromise to me - what do others think?
Will I be able to insure an unregistered vehicle?
Thanks for all your help so far. Joining site has been well worth it :thumb:

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