When buying a car overseas the method that you pay the seller can make a large difference to the cost of importing it back to the UK. Just a small fluctuation in interest rates can make your purchase much cheaper or much more expensive.
First you need to decide how to pay the seller of the car you are interested in. We always suggest ordering an inspection of the vehicle you are looking at (we can arrange this for you), if the seller is funny about having an inspection, this should set alarm bells ringing.
If you are buying a vehicle through eBay always complete the purchase through eBay and pay via PayPal if possible to safeguard you as much as possible. Anybody trying to get you to pay them outside of the eBay system may be a fraudster.
One way of safguarding your transaction is to use an Escrow service, this is where a third party hold the car until payment is clear with them, and then the vehicle is released to you. These are often more expensive but recommended for high value car purchases abroad.
The best way to pay for the vehicle whether you use an Escrow service or not is to use a Foreign Exchange Broker – they can set you up an account in minutes and will always beat the rate the banks offer you which will be a sure way to save a lot of money.
Our sister company SMCFX can manage the transfer of funds to the seller at the best possible rates, far better than a bank (save on average £200 on transferring $10,000 for example) – sign up quickly and easily and use our online portal here: www.smcfx.co.uk
When purchasing a car for shipping to the UK we recommend the following steps:
- Check out the seller as much as possible – Google their email, try and find them on Facebook, enter their zipcode into Google Maps, ask for copies of their ID, etc
- Order an inspection from ShipMyCar.co.uk to verify the seller and the vehicle
- Always use a currency broker to transfer money – Click Here for a quote or use the below form
- Use an Escrow service
If you would like any further advice on Car Shipping or paying for a vehicle overseas, please contact us at anytime