Cash buyer...is it safe?

Yes I'm wondering too.

Incidentally, you may not have £100 notes in England but the Bank of Scotland issues them, I've only got the one though  

Paulmold wrote:I was once given a 1000 dong note as a tip. I'll let you look that up!

I just have - slightly under 37p.

As for £100 notes, I cannot think of any possible use I would have for one.
Most of my transactions are done with cheque, debit card or electronic transfer of some kind, I only use cash for relatively small amounts.

Frank

I am the odd one out here, I get money out of the bank every week, not hole in the wall, I always have the amount in tens, I pay in tens, even when well  over £100,  I never use debit  card for shopping. credit card used on line through Paypal only. more security that way. if I haven`t the cash I don`t buy, just my way of doing things, 

Margaret

Same as you Margaret, the wife draws out an amount of cash from the local.P.O once a fortnight .
We pay for fuel cash, we had a problem with B****card VISA some years back as a result of our card details being stolen.
Fortunately B*****card refunded straight away .
Never seen a £100 note
Boaby

I am still sitting here in suspenders oops ! suspense desperate to know if it sold !

norgil

boxerman wrote:

Paulmold wrote:I was once given a 1000 dong note as a tip. I'll let you look that up!

I just have - slightly under 37p.

Shows how the pound has changed. It was worth 8p when I was given it.

Paulmold wrote:

boxerman wrote:

Paulmold wrote:I was once given a 1000 dong note as a tip. I'll let you look that up!

I just have - slightly under 37p.

Shows how the pound has changed. It was worth 8p when I was given it.

That's more interest than I got last year from my savings account.  
Boaby

Interest .................yes, I just about remember that from the old days 

Same as Margaret and Boaby, except when abroad I use the credit card for most things, mainly because it's not my money I'm spending and there's no access to my bank account.
 Otherwise I move in circles where cash is king. I buy and sell motorbikes as a hobby and it's surprising how a price can come down when a seller, even a dealer, is offered cash.
I recently had a new conservatory built, the 15k price went down to 9k when I offered to pay the various tradesmen involved in cash.
Al.

Problem is Al, a lot of motorhome dealerships don't want cash, in my experience anyway, even when trading in.
Boaby

Quite a few years ago, a friend was buying a used car from a dealer and asked how much they would knock off for cash - he was told that there would be no discount as the salesman would prefer him to take out a finance agreement.
The salesman was quite open about it and said that he was paid on commission. If he sold the car at a discount he would be cutting his own commission but if he sold it on a finance package, he would get commission on the full price of the car plus a commission from the finance company.

I can't remember if my mate bought the car or not

Frank

I was told that by the dealer when I bought my van, I stilled paid cash,  they make money on the finance, years ago cash was king, now they look gone out when I pay cash, how times have changed, no wonder some folk are up to their eyes in debt. At least if paying cash, know it is paid for. and not a bill coming in.

I don't move in such stratospheric areas. No main dealers, usually one man band outfits who always seem to have a cash flow crisis. I mostly buy and sell privately. My present van was bought from a private seller, price well negotiable..
But when I bought my new car two years ago, like you say, there was no reduction for cash, however I got £500 knocked off as I had no part exchange, having sold my old car privately. Short as it is long.
Al.

When buying our new car earlier this year after negotiating the price for a cash sale with a reasonable discount but still undecided, they said well buy it on finance for the same price, the finance company will contribute £1,400 towards the deposit. I then paid off the dept in a couple weeks when all the paper work had gone through costing a few quid in interest for the couple of weeks. So in that case cheaper on finance.

For General day to day spending I use credit cards, but they are automatically paid off every month and I keep a track of spending. Don't like carrying around a lot of cash. As others have said each to their own.

Mike

Well done.

Just a heads up to others check the small print (I know we  always do ) some agreements have a clause whereby if you pay the debt early, they still charge you all the interest.

If it is an HP agreement, and the outstanding amount is less than £8000, the lender is not allowed to make any charge if you pay off early. If more than £8000, the lender can charge the lesser of, 1% of the debt, 0.5% of the debt if less than 12 months remain, or the outstanding interest. These rules are set by law.

PLOUGHLIN wrote:If it is an HP agreement, and the outstanding amount is less than £8000, the lender is not allowed to make any charge if you pay off early. If more than £8000, the lender can charge the lesser of, 1% of the debt, 0.5% of the debt if less than 12 months remain, or the outstanding interest. These rules are set by law.

Well it was certainly a Hire Purchase agreement, with a "balloon payment" at the end of the agreement in order to reduce the monthly payments, and it was over £8,000. The small print was clear about rights to pay early. All done over the phone with no human contact, just pressing keys to get the settlement amount and sent them a cheque. Must be one of the good guys.

But as always read the small print.

Mike

Thanks Ploughlin (Peter) for some clarification.

You learn something every day.

Still stand by the 'read the small print'

All very interesting   ...   ...   but what happened to Momac's  sale of his Harmony

-mojo- wrote:

Bulletguy wrote:21st century and UK still doesn't have a £100 note. How backward is that?!!!  

I'm led to believe (by the BBC in a recent article on their website) that the quantity of high denomination notes is deliberately restricted, because the main uses of them are illegal - either for money laundering or for transporting money between countries. One of the biggest problems today (apparently) for criminals is converting traceable cash into non-traceable cash which "proceeds of crime" actions can't take off them.

IIRC someone did a study of the largest denomination Euro note recently and found that there was almost no honest reason for anyone having them in any quantity larger than single notes, and I ~think~ they are debating whether to withdraw them as a result.

We are just an archaic backwards thinking country stuck in a time warp with a fanatical obsession about "security" yet a group of pensioners were able to get into one of UK's most "secure" vaults and help themselves to £14 million quids worth of loot whilst the police went back to sleep after a security guard, alerted by the alarm, checked the front doors and found them locked so logged it as a false alarm. These guys even took their own workshop manual with them, "Forensics for Dummies"......you really couldn't make this stuff up!!! I think The Lavender Hill Mob has to come a close second!!

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Switzerland has large note currency of SFr 100 (£82.27), SFr 200 (£164.55), and SFr 1000 (£822.88). Whilst the 1000 note isn't common, 100s and 200s are regularly carried by Swiss and these notes have been issued for donkeys years. They are even listed in the Guinness book of records as the most secure against counterfeiting.

According to the 2008 edition of [You must be registered and logged in to see this link.] the current series of Swiss Franc notes is the most secure in the world with up to 18 security features including a tilting digit which can only be seen from an unusual angle, a UV digit that can only be seen under ultraviolet light and micro text. According to the [You must be registered and logged in to see this link.], the ratio of counterfeited bank notes is about 1 in 100,000 of real bank notes for the [You must be registered and logged in to see this link.], of 1 in 20,000 for the [You must be registered and logged in to see this link.], of 1 in 10,000 for the [You must be registered and logged in to see this link.] and of 1 in 3,333 for the [You must be registered and logged in to see this link.].

BobK wrote:All very interesting   ...   ...   but what happened to Momac's  sale of his Harmony

The buyer took it out for a road test. Last seen somewhere in Morocco where he plans to winter over then return to let Momac know he doesn't like the colour! 

Interested if this went well.

Strangely the original poster has not visited the forum since 20th October.