Best way to pay £8k for car

T

thos

Registered User
Messages
150
Hi all,
Buying a car, £8k dealer in the North.

What are best options to pay cheaply and conveniently?

For convenience I'd really like to be able to do a card transaction. I have an N26 Mastercard. N26 say they pass on MasterCard rates without markup, but seems like they have a €5k daily limit. AIB seem to have a daily limit of €7,100, and transaction limit of €5k, but they also want 1.75% of transaction value for the foreign exchange.

I'd rather not do online transfer as I have found it a little unpredictable and needs some planning.

Bank transfer, this is my fallback, hoping to get AIB to match some of the online prices and see if this works.

Am I missing any new fandangled methods here?

Thanks,
Tom
 
thos said:
Hi all,


I'd rather not do online transfer as I have found it a little unpredictable and needs some planning.
Click to expand...

Bank transfer takes a few days but is simplest.

Just agree with the dealer if you can that they take the currency risk. EUR/GBP is going to be choppy over the next little while
 
noproblem said:
Why not cash?
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Good point. I've generally ruled it out myself recently, have found a number of places more reluctant to take it, £8k seems a little on large side for carrying around. I need to get train up.

NoRegretsCoyote said:
Bank transfer takes a few days but is simplest.

Just agree with the dealer if you can that they take the currency risk. EUR/GBP is going to be choppy over the next little while
Click to expand...
So agree a rate, or just agree EUR amount that you will transfer out? This still needs to be done via bank right? I can't do sterling transfer out of a euro account (with AIB)?
RedOnion said:
Yes, most large dealers in the north will happily accept Euro.


There is a maximum charge of 11.00 per transaction
Click to expand...
Max is good to know, thanks.

Same question as above, at an agreed rate or euro amount I'm assuming?
 
There's an awful lot of people going North every day of the week with a hell of a lot more than £8k in cash. It really isn't a big amount at all. Good job you didn't see the cash amounts on ferries going to Cheltenham.
 
thos said:
Rang AIB Visa, they say no max on this
It is listed on their website, but they seemed confused about it.
Click to expand...
There is a limit on debit card, but not on credit card.
Sorry, I assumed you meant debit when you said there was a limit.

They shouldn't be getting confused so easily!
 
You're right - and I got myself confused also, I found the €11 on debit not credit.
But overall value is too big to go all on debit. Round in circles a bit.
 
Why not use both cards?
Your N26 for its limit and top up remainder with your AIB card.

I recently bought a car "up north" for £7500 using Revolut without any problem.

Topped up my Revolut account with €, waited for an acceptable exchange rate, bought £, informed Revolut about
pending transaction, they replied "No problem" and checked with retailer that he would accept a debit card for
the full amount. Only too happy to.
 
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