NEW CAR PURCHASE VIA CREDIT CARD

MR2_3

Anybody recently purchased a brand new car and used a credit card to pay a significant part or all of the bill?
Early responses appreciated please.

zcaprd7

Try a forum search?

Smartasss

The only problem encountered was the garage wanted to add a handling fee for the transaction to recoup their costs.

Luckily this was discussed prior to the sale order being signed, so there was still some 'leverage' available.

SmartRRRR

Hi MR2

Could I guess what car you want to buy with a credit card?

I bought a secondhand RAV4 with a part credit card payment, technically. The garage wanted to charge 2% of the £7k for me to use it, so I rang MBNA and talked nicely to them, they gave me a cash advance at 0% for 6 months and no fee. I then Switched the cash to the garage and then spent 2 years moving balances around. It took a bit of tracking but I paid about £60 interest in total (when I hadn't arranged a 0% BT and paid 3.9% for a month or two) before trading up.

I did the same thing again for my next car, but the story for my current one is slightly different.

It was bought new, and the deal was acceptable but involved finance. I negotiated a couple of hundred pounds towards the fixed finance costs (set up and 'transfer' fees - total £215) for a HP loan. Then, after getting a better price because the finance company pay the garage a commission (out of my payments!) I paid the finance company off straight away with a cash advance (again with MBNA at no fee - it's amazing what they are prepared to offer if you keep your accounts clean) and now I've got the Barclaycard 0% to next August. Because the finance was repaid before the first months payment was due the deal was cancelled with no interest or penalty, save the £215 which I had got back from the garage anyway.

Sorry it's a long post but there's a lot of explaining.

I've just cancelled a couple of MBNA cards, only to be told that a Bank of Scotland card I have is being transferred to them!

It could be worth a chat with the garage over fees and finance. My finance was through Capital Bank, part of the HBoS group.

MR2_3

Many thanks for most comprehensive reply. Greatly appreciated.
I will use your experience in finalising my purchase of the vehicle.
You could very well be correct as to its make and model!!!!!!!
Thanks again.

sicker

I bought a new Toyota Yaris 3 years ago. After much haggling a price was agreed for my trade in and I pruduced my credit card to pay the balance. When they said they would have to add a surcharge I said no thanks, we shall go for a citreon. The chance of loosing the sale changed the manager's mind and the cc was accepted. Do not assume their last offer really is their last offer if you know what I mean.

John

MR2_3

Will bear in mind. Cheers.

DiggingOut

Do not assume their last offer really is their last offer if you know what I mean.

Unless you use an auction approach like is mentioned here.
http://forum.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=fiddly;action=display;num=1091164393;start=0#16

If you do that, their last offer may really be their last offer, and they may be unable to pay the credit card company a fee. ;D