Refund protection?Which card?

hollydays

Ah,yes ok,thanks.He is buying a car for £5000,so I wanted to make sure it was ok.
The comments I read about Amex apparently relate more to paypal problems,which isn't relevant here.Thanks again.I am going to pay then with my Amex Nectar card because that will earn £ 113 in nectar points,which I am going to let him have.Presumably it won't cause a problem if I purchase it on my card,even though he will be the owner? Or will it?

exel1966

BEWARE, the majority of car dealers will charge a handling fee to the customer when using a card to purchase a car. It could be anywhere between 1.75% and 3.00% if AMEX as they charge higher fees to the dealer.
Hopefully you'll be able to take this into account in your negotiations.

hollydays

We have already agreed the price subject to a friend looking over the car next week.I tried to pay for the deposit in cash but they said they couldn't take it.He used his visa debit card then.

hollydays

That would be £153 if 3 percent,I think? No way am i going to let him pay that-they will have to knock it off the price!!

exel1966

AMEX have higher handling rates than VISA/MASTERCARD. This is why many retailers will not accept AMEX.

As I say, MOST will charge, but yours may not, though your dealer may have already incorporated this into the price, but you could use it as a bargaining tool. It will all depend on how much of a 'mark up' the dealer has already added to his costs. I suspect If you said you'd pay cash you'd get it slightly cheaper, but then you'd lose that valuable protection which is especially important when purchasing as 2nd hand car.

hollydays

No,They said they were not allowed take cash for the deposit,so i assumed they meant they couldn't take cash at all.

exel1966

Hmmm seems a little odd, but they of course set their own policies. Maybe the owner just doesn't want the staff handling cash OR maybe they have nowhere to store cash OR are not insured if keeping it on the premises.

As long as your friend is happy with the deal that's all that matters really.

hollydays

They are a main dealership. I found it a bit odd too.Yes,he is very happy as he has found a great car with a years guarentee through them too.I think i am going to check out that this eally is their policy through another dealership.

hollydays

NickX wrote: »

This is true, however you do not need to spend over £100 on the Credit Card.

Provided the total spend is at least £100, you could in theory put just £1 on the Credit Card and pay cash \ debit card for the rest and still benefit from Section 75 protection.

I agree with the advice given that paying by Credit Card is the safest option.[/quote%

Can anyone else confirm this thing about £1?
I have asked and credit card charges are 1.75 percent

exel1966

hollydays wrote: »

NickX wrote: »

This is true, however you do not need to spend over £100 on the Credit Card.

Provided the total spend is at least £100, you could in theory put just £1 on the Credit Card and pay cash \ debit card for the rest and still benefit from Section 75 protection.

I agree with the advice given that paying by Credit Card is the safest option.[/quote%

Can anyone else confirm this thing about £1?
I have asked and credit card charges ae 1.75 percent

The FULL amount does NOT have to paid on the card, only a partial amount does to give you the protection of the CCA.

Cases of claims where payments are split could possibly take longer to resolve as the c/card company are not going to be happy about paying out £5K (if a problem arises) when you've only spent £1 on the card and £4999 by some other means.

Personally I would pay in FULL using the card.