My job used to take me to Scotland quite frequently. On one occasion I had to get some cash out of a cashpoint. Needless to say, it was all in Scottish notes. Back in London, I foresaw difficulties with these notes to took them to the Royal Bank of Scotland (some of them were issued by said bank) to get them changed into English dosh. "Do you have an account with us?" they asked me. "No." "Then I'm afraid we can't change them." "You mean you won't change them?". "No." So I took them over the road to Nat West who changed them without a quibble. I don't have an account with them either. In the UK, I'm with Lloyds.
The only one I have first hand experience of is an Audi dealer who is a customer of mine (this is something we have discussed before). most days a few hundred pounds goes over the spares counter (at most), service and sales normally don't take a penny in cash. It's all usually finance / card or account sales. To be fair the Audi dealer in question is about 80% fleet sales, though is imagine that's true of most Audi dealers. While not a car dealership, in the plant industry I work in cash is generally not accepted - we have no facility to deal with it.(group turns over around £200m per year)
I've never met anyone who won't take cash,no matter how large the amount. Paid for a truck with £26k plus the old Vodka And Tonic,in readies 2 years ago,dealer went straight to the bank with it. (I wanted to take the lorry there and then,no messing). Theres an old saying,"cash is king",it still holds true in many circles. I'd be very surprised if a Dealer knocked back a sale because you were holding pound notes
Why all the conversation re cash as pound notes etc. Surely paying with a switch / debit card is also cash? I paid for my last three cars and two bikes using my bank debit card. I too do not like debt and prefer to save for what I want, or go without if I cannot afford it.
I don't understand why would anyone want to pay cash (notes)? What's the point of bringing a pile of money to the dealer? How is that any better, more convenient, safer(?!?!) etc... seems like a completely pointless exercise to me Slightly different situation if it's a private sale but surely all dealers accept cards?
You know where you are with cash,at least you do if you take it straight to the bank with the buyer in tow... Cards can be stolen,cloned,misused,etc,etc. As long as the notes are genuine,(I'll only take large amounts if the banks are open),I prefer a cash sale every time. If a buyer has the cash in his hand,you know theres a deal to be done:and no excuses
Ok, factor this in, awful credit rating. I defaulted on a stupid amount (low amount) on a forgotten credit card which was only used to build credit rating a few years back. Sad story, blah blah. My own fault. Went out of the country for a bit, came back to bills and a 'oh shit, you prick' moment lol. None the less, it has hindered those 0% chance, well, outright stopped the chance of getting them. Apparently you can contact the company directly and ask for it to be removed (the default) as I do have a new account with them. But I have yet to try this. Which is another reason that I just don't want finance. As for the legal tender, very interesting stuff! Guy who bought my old 1098S paid in cash, large wad. I went right to the bank. Obviously I'm no dealer, just a private sale. If I were a dealer, I would prefer a cash transfer but can understand, no commission for them... Seems I'm in a worst position by having a bad credit rating even though I am able to save £10k in half a year without worry... Silly system.
I have always had cash and loan for my bikes, but when I saw the Panigale I decided to wait and save enough to get a minimum loan, however thinking back to last year and people I have lost (not through biking i hasten to add), I decided to get finance and live now!! I can afford the payments, I also know what the finance will cost me in the long run, and so be it. I love my new bike! It`s awesome, looks the Bo##ocks and makes me smile every time I open the garage, If the number 69 knocks me over crossing the road tomorrow..fine! I have owned and ridden the bike of my dreams....rather than not.
Good way of looking at it. But I wouldn't want to leave my family with a chunk of money owed. That's How I have always tackled that approach to lending for something entertaining/fun. Not saying it's wrong, just a difference of opinion. For me, I would rather have items they can keep/sell on to benefit them. Not dread the money pit to be filled once I'm gone.
Er... bit of a morbid way of looking at life, isn't it? I mean it may be wise, but surely these are odd considerations unless you are in your 80s.
Common misconception.. away from secured debt such as a mortgage personal debt cannot be passed on upon death. The credit agreement is between you and the lender, not your family, not your estate. Even a mortgage is only secured with the property. If you die with negative equity only the value of the property returns to the bank, your family don't owe a penny of your debt. As for cash? When I sold my Lexus the guy wanted a discount for cash. I explained that far from a discount I'd need an extra £20 as I have to drive into the city, and park, then go into the bank to pay it in. It's going to cost me money to process it as well as the time. When a bank transfer is free and instant its the only way to go. When I sold my mustang the buyer did a bank transfer, its secure (cash is easily forged) free and instant. Pictures of the queen belong in galleries.
