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Comment by ur-whale | Hacker News Reader

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ur-whale·

>We generally use bank transfers to buy cars.

It's actually the only possible way to buy a new car.

If you don't believe me, go try and buy a car with a credit card in the EU, see what happens.

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You may technically be correct, as the UK is no longer in the EU. You can buy cars with a debit card in the UK, haven't tried using a credit card.

Debit card works fine to buy a car all over Europe and generally everyone here has a debit card. Creditcard usually doesn't work due to the much higher fees (2 to 3% for credit vs 0.2% for debit).

Is it possible to buy with cash?

It's probably not possible in most of EU because there is a limit for cash transaction which is I think 15 000 Euro (not sure if EU wide, but definitely here in Slovakia), over that you need to do a bank-wire transfer. All new cars are paid this way - or you purchase it with a loan / lease and don't need to put down this amount of money at once. Most new car dealers don't even have a cash register and would not take such an amount of money from you in cash. This is due to prevent money-laundering.

Not sure about other countries, but in Spain you can't pay anything above three thousand euros (IIRC) in cash.

People downvoting others in disbelief should try to find a source by themselves before.

2500 EUR if you live in Spain

https://www.agenciatributaria.es/AEAT.internet/Inicio/_Segme...

Depends on the country and the amount of cash [0]

[0] https://www.europe-consommateurs.eu/fileadmin/user_upload/eu...

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