Buying a £40,000 classic car
Discussion
Without going into too many details, I'm currently looking buying a classic sports car around the £40k mark.
I'm viewing two this weekend, one is at a fairly large dealer which sells a few specialist brands plus a range of classics, the other at a smaller dealer but still with a good selection of classics.
If I buy I'll be asking to have it delivered as both are quite far from home and I don't want to drive it miles on motorways through winter weather. The larger dealer have their own covered delivery service, the smaller one can arrange it with a third party.
What I'm worried about, given a couple of recent high profile collapses of specialist dealers, is transferring them a significant amount of money and trusting that the car will be delivered.
How can I protect myself?
At what stage of the deal should I release the money?
Am I better arranging my own delivery service and only transferring the balance once my guy has the car ready to load up?
I'm viewing two this weekend, one is at a fairly large dealer which sells a few specialist brands plus a range of classics, the other at a smaller dealer but still with a good selection of classics.
If I buy I'll be asking to have it delivered as both are quite far from home and I don't want to drive it miles on motorways through winter weather. The larger dealer have their own covered delivery service, the smaller one can arrange it with a third party.
What I'm worried about, given a couple of recent high profile collapses of specialist dealers, is transferring them a significant amount of money and trusting that the car will be delivered.
How can I protect myself?
At what stage of the deal should I release the money?
Am I better arranging my own delivery service and only transferring the balance once my guy has the car ready to load up?
I'm not sure if this is a thing but it could be in the UK.
Some sites like BAT and Ebay now use escrow services for payment where you make the payment to a provider but they only release the payment to the seller when the car is delivered. If that's not an option, pay on pick up and arrange your own delivery or put a good deposit down and pay the rest on delivery.
Some sites like BAT and Ebay now use escrow services for payment where you make the payment to a provider but they only release the payment to the seller when the car is delivered. If that's not an option, pay on pick up and arrange your own delivery or put a good deposit down and pay the rest on delivery.
Edited by alabbasi on Wednesday 21st January 03:27
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