?to pay Broker who will THEN pay Dealer for NewCar

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Tue 2 Jul 2019 15:04
?to pay Broker who will THEN pay Dealer for NewCar - Anthony Ditri

i bought a new car through a broker, but i'm hesitant about transferring the balance (not an insignificant sum!) to the broker. I'd rather pay the Dealer. The Dealer has my car and says they've done business with this broker before.

I'm worried in case the broker goes broke and i lose my money.

I"m unsure if brokers have to have a ring fenced bank account for client monies which is insured.

Can anyone reassure me?

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Tue 2 Jul 2019 17:02
?to pay Broker who will THEN pay Dealer for NewCar - Bromptonaut

Can anyone reassure me?

No. Rather the opposite.

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Tue 2 Jul 2019 18:06
?to pay Broker who will THEN pay Dealer for NewCar - FP

If you are buying the car through the broker you will in effect have a contract with the broker, not the dealer. If you back out you will lose the purchase.

If you don't like the idea of a broker, don't use one.

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Tue 2 Jul 2019 18:08
?to pay Broker who will THEN pay Dealer for NewCar - groaver

Pay some of the amount (>£100) by credit card for protection.

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Tue 2 Jul 2019 18:37
?to pay Broker who will THEN pay Dealer for NewCar - skidpan

We have bought 3 cars through a broker now and all 3 have been via Carfile.net.

They are simply an introduction agency who pass your details to one of their dealers who then do all the business with you. All monies (including deposit) are paid to the dealer.

Its a first class service with zero risk. We have saved approx £8000 on the 3 purchases, more if you include the manufacturer contributions.

Some other brokers operate the same way as carfile.net, drivethedeal is one of them.

Its simply too risky to pay money to what is possibly just a man with a fancy website and a laptop. Their discounts may appear bigger but so are the risks.

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