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Down payment - interbank transfer?


radiant00
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Hi guys,

 

I am getting a car from a local AD, and I am about to make the payment tomorrow. I was told that I could do an inter-bank transfer instead of cheque/cashier's order, is this a standard practice?

 

Just want to avoid any possible traps.

 

Thanks,

00

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i have done IB transfer before, but not for downpayment, for which i used a cheque. btw my dealer was a PI. should not be a problem. 

 

however if you are not comfortable with it, can always go back to using cheque/cashier's order. 

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IB got record and trace-able but problem is how you know that's AD account not salesperson's?

 

This was exactly what I worried about yesterday. But I eventually decided to go with IB before I personally going down to sign the final Sales Agreement. It appeared to go well right now.

 

It is more about trust of your sales person I think.

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Hi guys,

 

I am getting a car from a local AD, and I am about to make the payment tomorrow. I was told that I could do an inter-bank transfer instead of cheque/cashier's order, is this a standard practice?

 

Just want to avoid any possible traps.

 

Thanks,

00

use credit card. In turn, the points can be converted to air miles and petrol voucher 

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use credit card. In turn, the points can be converted to air miles and petrol voucher 

 

Thanks, maybe I should have put myself more clearly in first place.

 

I have already made a $10k deposit with my credit card and that is the maximum amount allowed. I subsequently made another XXk for the balance payment, via IB transfer. It is so far so good as I already got my final sales agreement with the official receipt number for both 10K and xxK payment.

 

I think it is considered as mostly safe when you are dealing with AD. Not sure about PI though.

 

Anyway, thank you for the advice. And thanks to all.

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Just to draw a conclusion to this topic :) I already got my car, everything's good.

 

Thanks all for the advice, and I agree with you that cheque/cashier's order is better/safer option, especially when dealing with someone you don't have 100%% trust.

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I usually use cheque for downpayment. Some of my friends they said some companies allow credit card. Dunno real or not.

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