Q I’m trying to purchase a brand new household automobile. There appears to be significantly better worth obtainable from personal sellers – which is a draw for me as I’m working to a really tight funds. Nonetheless, a pal of mine had a nasty expertise with a non-public vendor not too long ago, which has made me hesitant. Do you’ve gotten any steerage on how finest to method this? Deirdre, Co Galway
Shopping for a automobile is a big buy – in addition to the associated fee, you want to remember that purchasing an unsafe automobile is harmful. Yearly, the Competitors and Client Safety Fee (CCPC) receives over a thousand calls from shoppers reporting points with second-hand automobiles – together with those that have unknowingly purchased crashed or ‘clocked’ automobiles.
Due to this fact, it’s necessary to contemplate quite a few various factors and to ensure you perform the important checks before you purchase.
The very first thing to pay attention to is that there are necessary variations between shopping for from a enterprise in comparison with shopping for from a person relating to your client rights and protections. You don’t have rights beneath client safety regulation in case you purchase from a non-public vendor and one thing was to go fallacious.
Though worth could also be a key consideration in case you are working to a funds, what could seem as a discount now might find yourself costing you extra if restore or substitute work is required after you purchase.
So earlier than shopping for a second-hand automobile (from both a enterprise or personal vendor), observe these easy steps and bear in mind to hold out the important automobile checks.
First, bear in mind that client rights don’t apply to personal gross sales and be careful for disguised merchants – professionals who illegally pose as personal sellers. Search on-line for details about the vendor – for instance, test what number of adverts the vendor has positioned on-line. If he’s promoting quite a few automobiles directly, this might point out that he’s a disguised dealer and never a non-public vendor.
Second, ask the vendor to fill out the CCPC’s automobile historical past guidelines (obtainable on ccpc.ie) to make sure you have all of the related car info and have carried out all important checks earlier than shopping for.
Third, test the mileage on the odometer matches the automobile’s paperwork. The automobile’s earlier mileage will probably be listed on its NCT paperwork.
Fourth, don’t be led by worth alone – as decrease value doesn’t at all times characterize worth for cash. Be certain to hold out the important automobile checks, whatever the worth.
Fifth, get a second opinion. When testing the automobile, deliver alongside a mechanic or somebody who’s skilled with automobiles or shopping for automobiles.
Sixth, store round. Verify automobile consumers’ web sites and magazines so you understand the common worth for the kind of automobile you need, based mostly on the specification, mileage and so forth. Bear in mind whether it is too good to be true, it often is.
Seventh, at all times attempt to pay by a traceable methodology – comparable to credit score or debit card or financial institution switch. Paying money is dangerous as you should have no document or hint of your cash if one thing goes fallacious.
Destiny of unused voucher following store closure
Q I obtained a present voucher – of a sizeable worth – for a neighborhood retailer final Christmas. Given the intervals of lockdown for the reason that begin of the 12 months, I didn’t have a lot alternative to spend the total quantity. I’ve simply heard that the retailer has introduced its closure. What does this imply for my voucher? I nonetheless have cash left and had supposed to spend it. Sam, Co Westmeath
A Sadly, you’ve gotten only a few protections when you’ve got a present voucher for a enterprise that subsequently goes out of enterprise.
Circumstances could range, relying on whether or not the corporate has closed down, gone into liquidation, examinership or receivership – so test on-line or on the enterprise’s web site for extra info.
Ought to the enterprise have gone into liquidation and you’ve got an unused present voucher, you’ll be handled as an unsecured creditor.
This implies that there’s a sturdy risk you could lose your cash.
Look on-line or on the enterprise’s social media accounts for particulars of the closure – as it could have a closing down sale, wherein you could possibly use the remaining stability of your present voucher – however make sure you accomplish that as shortly as attainable.
Are on-line buying and selling platforms a great residence for my financial savings?
Q I’ve managed to save lots of a small sum of cash over the previous 12 months or so. It’s at present in my financial savings account however given the low curiosity on saving, I’m contemplating investing it for a greater return.
I’ve by no means invested earlier than however I’ve heard of quite a few folks utilizing on-line buying and selling platforms and it sounds actually easy. Are there any downsides to this or ought to I simply go for it? James, Co Waterford
A Earlier than making any type of funding, take into account quite a few various factors. For instance, you have to to resolve what stage of funding threat you’re snug with. Often, the larger return you need out of your investments, the larger the danger you need to take. You additionally have to resolve how a lot of your financial savings you’re prepared to speculate and for the way lengthy; the prices and charges related to investing – and the tax you could have to pay on any progress or returns.
Relating to on-line buying and selling platforms, one of many fundamental sights is that they usually supply decrease prices – when it comes to accessing the inventory market.
Nonetheless, nearly all of these on-line buying and selling platforms function on an execution-only foundation. This implies no skilled recommendation will probably be supplied to you earlier than you buy shares and shares.
Additionally, some funding merchandise obtainable by on-line buying and selling purposes could be fairly complicated. This implies you could possibly run the danger of investing in shares which can be fully unsuitable to your wants and will end in losses that you could be not be ready for.
There are tax obligations linked with the sale of investments by these platforms. The kind and fee of tax payable depends upon the kind of revenue you obtain from the sale. Due to this fact, if contemplating utilizing a web-based buying and selling platform, it could be helpful to hunt tax recommendation.
Usually, earlier than investing in any sort of funding product, take into account the extent of threat you’re prepared and comfy to tackle.
Ask your self in case you can afford to lose cash – and if that’s the case, how a lot are you able to afford to lose and what’s going to occur in case you lose some or all your cash after investing? Additionally, resolve how lengthy you wish to make investments your cash for.
Typically, the longer you make investments for, the larger the potential is to earn the next return. Nonetheless, it is advisable to take into account if you have to entry to the cash throughout the funding time period and the way shortly you’d have the ability to entry your cash if wanted.
Verify if the monetary adviser or funding agency you’re contemplating is regulated by the Central Financial institution – if not regulated and issues go fallacious, you could not have entry to public complaints procedures and compensation schemes.
Lastly, take into account knowledgeable monetary recommendation – significantly when you’ve got restricted data of the monetary product or the place the product is extra complicated in nature.
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