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Old 06-12-2013, 09:14 PM   #1
FalconXR6
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Default Dealers and direct bank transfers

Howdy,

Just wanted to know what the standard practice was with regards to buying a car from a dealer via a bank transfer.

For example would a dealer accept bank transfer and let you drive away same day ?

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Old 06-12-2013, 09:25 PM   #2
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Default Re: Dealers and direct bank transfers

No, because they take 24 hours minimum to show up in the receivers account........
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Old 06-12-2013, 09:41 PM   #3
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Default Re: Dealers and direct bank transfers

Get a bank cheque from the bank.

Cost $15.
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Old 07-12-2013, 07:12 AM   #4
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Default Re: Dealers and direct bank transfers

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Originally Posted by Hell Cat View Post
Get a bank cheque from the bank.

Cost $15.
bank cheques can bounce, be forged or altered and so should never be accepted as payment until cleared

cash talks, give the dealer cash
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Old 07-12-2013, 07:48 AM   #5
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Default Re: Dealers and direct bank transfers

I paid for my last car with bank cheque and drove it home that day.

I didn't just whip out the old cheque book in the dealership and scribble down $26k and chuck it on the table, it was a printed off cheque with receipt from the bank and using funds from my savings account.
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Old 07-12-2013, 08:46 AM   #6
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Default Re: Dealers and direct bank transfers

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Originally Posted by Hell Cat View Post
I paid for my last car with bank cheque and drove it home that day.

I didn't just whip out the old cheque book in the dealership and scribble down $26k and chuck it on the table, it was a printed off cheque with receipt from the bank and using funds from my savings account.
And the dealer accepted the risk probably because he was confident in your licence details and you may have had a trade in too

countless instances of bank cheques bouncing or otherwise being dishonoured
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Old 10-12-2013, 04:49 PM   #7
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Default Re: Dealers and direct bank transfers

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Originally Posted by xxx000 View Post
bank cheques can bounce, be forged or altered and so should never be accepted as payment until cleared

cash talks, give the dealer cash
But the risk is with the recipient, not the person who hands over the cheque. Safe enough if backed up with the receipt for withdrawal from the bank.
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Old 06-12-2013, 11:26 PM   #8
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Default

A bank cheque also takes time to process and show as available funds...

Just wondering if anyone has ever direct deposited to a dealer before ?

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Old 06-12-2013, 11:31 PM   #9
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Default Re: Dealers and direct bank transfers

You could probably arrange with your bank to provide the dealer with a remittance advice, which is basically the banks word that the money has been transferred. Other option is, if you know who they bank, go to an actual branch and deposit money there, it should either clear straight away, or they can provide the dealer with a receipt to say that it has been paid.
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Old 07-12-2013, 12:32 AM   #10
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Default Re: Dealers and direct bank transfers

I got a 15k car same day I saw it. Jumped on NetBank, did transfer and drove car home.
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Old 07-12-2013, 04:40 AM   #11
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Default Re: Dealers and direct bank transfers

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Originally Posted by Yellow_Festiva View Post
I got a 15k car same day I saw it. Jumped on NetBank, did transfer and drove car home.
Assuming you both were using the same bank on that one.
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Old 07-12-2013, 07:51 AM   #12
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Default Re: Dealers and direct bank transfers

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Originally Posted by uniacidz View Post
Assuming you both were using the same bank on that one.
To be honest I really can't remember!
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Old 10-12-2013, 04:51 PM   #13
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Default Re: Dealers and direct bank transfers

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Originally Posted by Yellow_Festiva View Post
I got a 15k car same day I saw it. Jumped on NetBank, did transfer and drove car home.
Commbank has real time transfers, withdraw fro your account now, instantaneous deposit to most other accounts.
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Old 10-12-2013, 08:56 AM   #14
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Default Re: Dealers and direct bank transfers

unless you look like a crook, dealer will be more than happy to accept a bank cheque.

bank cheque with photcopy of your ID = CASH for dealers

Bought plenty of cars from dealers and used bank cheques no problems what so ever.
Most dealers don't really like large sums in cash that much as it has its own risks, although no one will ever turn you down.

can't comment on transfer sorry.
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Old 10-12-2013, 09:05 AM   #15
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Default Re: Dealers and direct bank transfers

Paid for all my cars using a bank cheque. The last one didn't even pay for the cheque as I asked to get it waved due to the amount.
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Old 10-12-2013, 12:26 PM   #16
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Default

Well to answer my own question: one dealer would accept bank cheque only... the other dealer accepted direct deposit drive away same day ! So I drove away a beautiful BA XR8 6 speed manual ute same day on Saturday !

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