Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
Fisker has officially filed for bankruptcy
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Fisker ocean - UK forum
- Thread starter spdpsba
- Start date
Would be interesting to see if actually the Oceans will become collectibles and will depreciate less than Teslas at this point...
I suppose if you bought outright you're out of luck (Consumer law but who would you claim against?), but if you scroll up this thread, there are plenty of provisions on a leasing contract that you could use to wiggle out.
It won't have been purchased with cash (as in, paper money or even coins) because high value cash transactions over €10k are subject to anti money laundering regulations and dealers don't want to be involved so won't accept it. The chances are that some or all of the transaction has therefore been done on a credit card and so Section 75 protection or Section 75a (but some of the purchase would have needed to be financed) might be relevant for the consumer.
goRt
Active Member
Credit Card? I've never used one to purchase a car, only bank transfers tbh...
Not true really. I’ve bought several cars in cash many times over the 10£k limit. Just ask for proof of source.
I would personally always put deposit down with credit card so covered if anything goes wrong and then balance by bank transfer, appreciate that’s still no good for anything over £30k, even section 75a wouldn’t work in that scenario. Good luck to anyone who has one in getting out
pdk42
Active Member
I assume the mothership servers will be turned off soon. I wonder what will happen with the cars. I’ve heard stories of people’s fobs not working causing lock-outs that needed remote intervention from service staff. With the servers gone, cars really could end up bricked.
I've never tried - and other than for reasons of tax avoidance or some sort of paranoia I'm not sure why it would be a sensible method to purchase a high value item personally, however YMMV. But in conversations I've had with dealers where I've (hypothetically) suggested turning up with a bag of cash they've always said that they won't accept it.
I thought there also had to be a linked credit agreement to be relevant on purchases over £30k, but it is a mine field
To get Section 75a protection (if the item is over £30k but under £60,260), then part of the transaction needs to be financed - so you could for example buy a £60k car, finance £20k of it and pay the rest as a deposit but using a credit card for some or all of the deposit transaction and it would be covered as a linked credit agreement.
MrBadger
Badger out
Well that's not cash then...
A cash purchase is a general widely used term for a purchase that does not use finance.
So buying something with funds from a bank is still deemed a cash purchase even if it does not get paid in £ notes and penny coins.
Say you were a cash purchaser for a house, a solicitor would still want proof that you had the funds and potentially where it came from, but that would involve things like looking at bank statements rather than physically counting the cash. But it’s still a cash purchase.
This is quite different to going to a trade person and offering to pay cash, off the books, maybe to save VAT and paperwork.
Yes that’s what I had thought as well, you then go after the finance company if can’t resolve with who you purchased from or they’ve gone out of business, what I had meant is if you put a deposit on credit card and then pay balance in cash (by cash I mean a bank transfer) it won’t apply
