Car on credit card

haras_nosirrah

Hello

My partner wants to buy a new car. Have been looking at 0% finance but this is only available for new cars. Would it be possible to pay for a 2nd hand car using a long 0% purchase credit card? Has anyone had any experience of any dealers accepting credit cards to pay for cars?

Hope someone responds

Thanks.

lisyloo

Generally dealers are not keen to accept cards because of the charges.
If you are desperately kken then you could offer to pay the charges, alternatively you could SBT and balance transfer to a currrent account.
We have bought a 2nd hand car this way before and did an SBT for about £18K altogether (3 cards).
Right now limits and options are fewer, but depending on how much you need it may be possible.

Try looking at

https://www.stoozing.com
which has tables of which cards offer 0%, the fees and which do SBT.

hotcookie101

I was going to do this a couple of years ago-simply for the cash back, but all the dealers I spoke to charged about 3-4% extra for credit card payment, so I used my debit card instead. So they will accept cards but you have to pay a premium.hth

haras_nosirrah

so if it is 3% fee then it would be worth it because looking at the sbt fees they are all about 3% but if they charge more then should do the SBT - is that correct?

YorkshireBoy

haras_nosirrah wrote: »

so if it is 3% fee then it would be worth it because looking at the sbt fees they are all about 3% but if they charge more then should do the SBT - is that correct?

Think about 'duration' as well.

ie, longest purchases card is 12 months (Tesco in-store), whereas longest SBT card is 16 months (Virgin Money).

Also, going the SBT route doesn't restrict you to dealerships.

ic

When I bought my car a year ago, I managed to pay £2500 without any charges at the garage - I told them it was a deal breaker so they dropped them.

BenL

I bought a 2nd hand car on a credit card at a Mazda dealer in Bradford.

It was about £3000 and they charged an extra 2%.

Ben

lisyloo

Everything is negotiable.
The dealer has a bottom line below which they cannot afford to sell.
You could make it a "deal breaker" and threaten to walk away.
Obviously they still need to stay in business so there is a point at which they will say no.

NickX

ic wrote: »

When I bought my car a year ago, I managed to pay £2500 without any charges at the garage - I told them it was a deal breaker so they dropped them.

Yes I have also paid £7000 on a credit card to a car dealer and they agreed to waive the fee.

I think I probably hadn't quite beaten them down to their best price during the prior negotiations

haras_nosirrah

Hello

Thanks for the responses. It just seemed a shame to have to go for an expensive new car that would instantly devalue in order to get finance. Will speak to my partner tonight