Buying a car with mastercard

Angela100_2

Planning to buy a car from a dealer with cash. Can I pay with my mastercard and then pay off with my cash? Do car dealers accept Mastercard? Planning to spend £5000.

PNPSUKNET

Most of them will accept credit card, although some will charge you. Depends on the dealer.

cash-magnet

Just think if you were paying for this with a cashback card? I got a friend to check the dealer he wanted to use accepted AMEX card, he then applied for and got their card that paid 5% cashback. The cash he was going to use to buy the car sat in a high interest savings account earning him interest, and by timing his purchase, he got almost the maximum interest free period (50 days?). He now agrees it's good to plan these big purchases in advance. Not sure how much he did save, but he was spending £9000 on his car.

lisyloo

Amex cashback limit is £100 but still worthwhile.

Normally dealers would want to make a charge of something like 1% - 3%.
If they don't then you potentially lose bargaining power because it costs them in charges so it might reduce the max discount you can get.

Redbedhead

I have done this before although they did charge a fee that was a % of the amount paid. However as I was getting cashback on the card it worked out ok.

One thing to consider is that most of them will take a certain amount on the card before they charge you, i.e. the deposit. So I made sure they took the max deposit they could so it minimised the % they charged me for the rest.

I did get a call from the credit card people to make sure it was me doing the transaction though!