Buying a used car on credit card

IMPEX8

Hi
I have a basic question. I want to purchase a car for about 10K and to put the majority of this amount on a 0% credit card that I already have and defer the payment, and pay the minimum amount each month. All the companies I have tried to call who sell cars refuse me to put the car on a credit card. Is there anyone who knows of a way round this?
Thanks

NickX

There may be a way around this.

Which card is it that you have 0% on ? And is the 0% on Balance Transfers aswell ?

IMPEX8

Hi
It is a Halifax One credit card, a black one, and it is 0% on Balance transfers too.
Regards
Asgar

clio

Well i,d shop around coz i bought mine from a garage and part ex'd my card in with the deal as well, the only way around it if you have a word with them and tell them you,ll pay the merchants fees then they may do a deal. the fees are anything from 1.5 - 2.5%, if you do it that way make sure you haggle the price down to compensate for
the merchants fees. i even got them to pay the fees for me so i got the better of the deal then again remind them the customer is King and they pay your wages lol....

YorkshireBoy

IMPEX8 wrote: »

Is there anyone who knows of a way round this?

There is, but each method will cost you up to 3% of the debt placed on the card.

Option 1 is to find a dealer who will do the car on the credit card, but will charge you up to 3% for doing so.

Option 2 is described (in principle) here...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#trick

Take a read (at least twice, and even 3 times to be sure you understand it), and post back with any further questions. There's more to tell you but you need to grasp the basics first.

Dave_®f©

I almost bought a car from Arnold Clark on a credit card to get the cashback on the purchase. They would only do it by adding 1.5% transaction fee to the purchase so it wasn't worth it in the end.

I ended up buying at a car auction but can't remember if they added a fee.....I think they did.

I was helping someone else out and they paid off the credit card anyway, that's why I can't remember too much, although it was only last February.

NickX

IMPEX8 wrote: »

It is a Halifax One credit card, a black one, and it is 0% on Balance transfers too.

Sorry I was going to reply to you, but have been on the phone since my last post.

YorkshireBoy's links should help it all make sense.

Basically you will either need to pay a fee to the dealer to cover their Merchant Fee, then they are likely to take the card to make the purchase.

The other alternative is to get an Egg Money card which can be used as a mule to get the funds from Halifax One into your Bank Account from where you can pay the dealer cash. There will be a Balance Transfer fee of 3% for this.

So, you are probably going to have to pay a fee, but I suspect if you pay them cash you may be able to get the price down slightly.

Good Luck.

Any

HI,
I am also thinking about buying a second hand car on the credit card and I also had a problem with it.
I don't know whether this deal is still on, but last month I got MBNA credit card (it probably won't be on, but someone might know about different credit card??) which transfered cash with 0% for 12 months into my current account - on the same terms as BT. Then you could buy the car for cash and pay the credit card off just like you are planning to.

Edit: http://www.moneysupermarket.com/cards/cardsresults.asp
According to Moneysupermarket Virgin card has 15 months 0% on transfer to your current account. That would make sense, as they are part of MBNA family.