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     Get in touch with us:
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Mon to Fri 9am - 8pm
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To maximise the saving of buying a car abroad, it is essential to get the best possible exchange rate and secure it. By doing this you know exactly how much the vehicle costs without the price fluctuating against the Pound. It is sometimes better to be safe than sorry and it also saves you considerable time, as you do not have to look everyday to see what the Pound is doing! SELECT AUTOMOTIVE always advises clients to use one of the methods listed below. There are two frequently used instruments which clients use to protect themselves against exchange rate movements. The first is used by people who have the £ Sterling amount readily available. Before placement of an order the client will convert over the necessary Pound Sterling in one lump sum to fulfil the total foreign currency price of the vehicle. By doing this not only will you achieve a better exchange rate, but you have also effectively frozen the rate of exchange. The second method is a forward exchange contract. This allows you to guarantee a fixed value of the foreign currency for each £ Sterling at a set or varying date in the future. Any bank or building society is able to write one of these contracts. SELECT AUTOMOTIVE offers a service that covers against the fluctuations in the exchange rate. SELECT AUTOMOTIVE will fix the exchange rate for the final balance payment to that at the time of order confirmation.
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