Market confidence will be crucial for Sterling as a lack of economic data leaves the currency vulnerable to wider market movements. EU Industrial production is scheduled to be released at 10:00 (BST) with a fall in activity begin expected for July. US weekly jobless claims data will be released this afternoon, weaker data may see the Dollar struggle to maintain strength. Weaker Australian employment data weighed heavily on the Australian Dollar as fears of further interest cuts have emerged.

The Pound rallied nearly half a percent on Wednesday after UK unemployment data showed improvement to the British jobs market. The rate of unemployment fell to 7.7% (forecast 7.8%) in July and heightened expectations that the Bank of England would have to consider monetary tightening sooner than forecast in the bank’s forward guidance.

How this helps Car Shipping

A strong pound can greatly lower the cost of buying and shipping cars from abroad, take for example the case of purchasing a new Ford Mustang and shipping it back to the UK, the savings of a $1.5/£ compared to say a $1.7$/£ can be seen as such:

The saving of over £5,000 is considerable and does not even take into account that we pay for shipping in USD($) and so our service charge will likely be lower plus the fact that economies of scale with more containers moving to the UK will further lower shipping rates

How you can lower foreign exchange exposure

Our sister company SMCFX can manage the transfer of funds to the seller at the best possible rates, far better than a bank (save on average £200 on transferring $10,000 for example) – sign up quickly and easily and use our online portal here: www.smcfx.co.uk

The post Strong pound helping car importers appeared first on Car Shipping and UK Import Specialists.

First you need to decide how to pay the seller of the car you are interested in. We always suggest ordering an inspection of the vehicle you are looking at (we can arrange this for you), if the seller is funny about having an inspection, this should set alarm bells ringing.

If you are buying a vehicle through eBay always complete the purchase through eBay and pay via PayPal if possible to safeguard you as much as possible. Anybody trying to get you to pay them outside of the eBay system may be a fraudster.

One way of safeguarding your transaction is to use an Escrow service, this is where a third party hold the car until payment is clear with them, and then the vehicle is released to you. These are often more expensive but recommended for high value car purchases abroad.

The best way to pay for the vehicle whether you use an Escrow service or not is to use a Foreign Exchange Broker – they can set you up an account in minutes and will always beat the rate the banks offer you which will be a sure way to save a lot of money.

Our sister company SMCFX can manage the transfer of funds to the seller at the best possible rates, far better than a bank (save on average £200 on transferring $10,000 for example) – sign up quickly and easily and use our online portal here: www.smcfx.co.uk

When purchasing a car for shipping to the UK we recommend the following steps:

• Check out the seller as much as possible – Google their email, try and find them on Facebook, enter their zipcode into Google Maps, ask for copies of their ID, etc
• Order an inspection from ShipMyCar.co.uk to verify the seller and the vehicle
• Always use a currency broker to transfer money – Click here to sign up
• Use an Escrow service

If you would like any further advice on Car Shipping or paying for a vehicle overseas, please contact us at anytime .

The post Paying for a car overseas appeared first on Car Shipping and UK Import Specialists.