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  • FIRST POST
    • max...
    • By max... 10th Oct 16, 5:14 PM
    • 10Posts
    • 1Thanks
    max...
    Buying car with 0% card but avoiding 2.5% dealer admin?
    • #1
    • 10th Oct 16, 5:14 PM
    Buying car with 0% card but avoiding 2.5% dealer admin? 10th Oct 16 at 5:14 PM
    Funding a new car purchase and I would prefer to take advantage of 0% credit cards for two years of which I am eligable therby leaving the cash invested - across a varied portfolio but making around 4% net.

    Dealer will cover cost of £5k on card but additional payment of £15k will incur a 2.5% handling fee.

    Any suggestions for other means of working this?
Page 1
    • bris
    • By bris 10th Oct 16, 5:29 PM
    • 6,147 Posts
    • 5,106 Thanks
    bris
    • #2
    • 10th Oct 16, 5:29 PM
    • #2
    • 10th Oct 16, 5:29 PM
    You can try to negotiate it away but the merchant services charge them to process the transaction.


    The cost to them will be about 1% 1.5 at most because as a small business I was 1.5% with Streamline, cant see a large car dealership being that as the more you turn over the less it is.
    • YorkshireBoy
    • By YorkshireBoy 10th Oct 16, 6:48 PM
    • 28,320 Posts
    • 16,128 Thanks
    YorkshireBoy
    • #3
    • 10th Oct 16, 6:48 PM
    • #3
    • 10th Oct 16, 6:48 PM
    Do you have the card(s) and sufficient limit(s) already in place, or are you still at the planning stage?
    • Heng Leng
    • By Heng Leng 10th Oct 16, 7:01 PM
    • 3,501 Posts
    • 1,047 Thanks
    Heng Leng
    • #4
    • 10th Oct 16, 7:01 PM
    • #4
    • 10th Oct 16, 7:01 PM
    Negotiate it away (fully/partially), take the hit or pay with a free method.
    • max...
    • By max... 10th Oct 16, 7:05 PM
    • 10 Posts
    • 1 Thanks
    max...
    • #5
    • 10th Oct 16, 7:05 PM
    • #5
    • 10th Oct 16, 7:05 PM
    Do you have the card(s) and sufficient limit(s) already in place, or are you still at the planning stage?
    Originally posted by YorkshireBoy
    Yes, cards assigned and limit no issue.

    No more scope for negotiation with dealer on fee.
    • YorkshireBoy
    • By YorkshireBoy 10th Oct 16, 7:16 PM
    • 28,320 Posts
    • 16,128 Thanks
    YorkshireBoy
    • #6
    • 10th Oct 16, 7:16 PM
    • #6
    • 10th Oct 16, 7:16 PM
    Yes, cards assigned and limit no issue.

    No more scope for negotiation with dealer on fee.
    Originally posted by max...
    If your credit rating and income will stand it, maybe try for a Virgin Money MT card (0% for 32 months for a 1.69% fee). The problem is, though, with savings rates on the way down, will you continue to enjoy 4% on your savings for the duration of the deal?...or at least until you've recovered the 1.69% fee on £15K.

    Or failing that, which other cards do you have?...and any intro BT rates on them?
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