Paying Deposit
Author: Adeel
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1) Be carefull and think again because if you change your mind after paying deposit then you may loose all your deposit money.
2) Deposit amounts vary from dealer to dealer, they can start from a nominal payment to very high percentage for a factory ordered one.
3) When buying privately make a sensible, and don’t go beyond 100 quid.
4) At a garage you can pay a deposit by cash,cheque or debit/credit cards.We recommend you to use credit cards as they enjoy max protection under Consumer Credit Act.
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5) Only pay balance when you pick up car personal cheques and bankers draft are easier.But remember cheques take time to clear but banker drafts take less then 10 minutes.
6) Don’t try to pay sums in cash.Sellers can refuse as it is illegal to pay more then 10,000 pounds as per new money laundering regulations introduced in 2003.
7) Though credit cards are safe method to pay but sellers may charge you for handling fee.
8) Always get a sales contract or receipt if paying privately.It will save in case of any contingency.
9) Ensure that all details are written on contract like name,address and complete details of car.
10) Make sure car price and deposit paid is clearly mentioned.
11) Always read terms and conditions if buying from a garage. Its your right to check them before signing.
12) Get signatures of other party.
Tags: car buying tips
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