Paying for a car

getcarter

Hi

I'm due to pick up a new (to me) car on Tuesday, my question is how do people pay for their cars?

I'm with Citroen Finance at the moment, I've got enough money after part exing my car to pay cash but does the finance give more protection? i suppose I can also start the finance then pay off the balance but that leaves the admin charges to pay.

Also can i pay the whole thing with my debit card?

(sorry to ask such basic questions:o)

davidjwest

How much is it? You can pay by debit car assuming it's not a private sale, but make sure you tell your bank before doing so or they may block it if it's a large amount as being suspicious. The dealer may make a charge if you pay by debit card, say 1% or so but I think that it's usually only credit cards that they charge for. Ask the dealer first to make sure.

Pew_Pew_Pew_Lasers!

Is this from a dealer? Just pay in full. They won't like it though, salesmen earn commission from finance.

getcarter

It's from a dealer and £7 k.

cyclonebri1

Might seem patronising but it doesn't matter, it's what I do.

Pay for the car in cash.
Never borrow for a car.
If you don't think you can afford it, you probably can't
Owing money on a car is the worst poss debt you can have.

Sorry but it is a moneysaving forum:money::money::money:

getcarter

You're right, getting finance and my last car was a big mistake - we live and learn and I've now decided that a brand new car is not for me!

I can pay for the car by cash, not struggle and sort out the old debt.

My plan is to save the money I would have paid out monthly as this money I'm using the to pay for this car is from my Dad's death and was specifically to do stuff to the house with! (does that make sense?)

I was just wondering if carrying on paying finance was easier so I can get the car then pay off the next week!

cyclonebri1

Good luck Carter, the secret is to get in front of your car finance, IE, pay for a car and when it's knackered you have saved for the next. No, not possible for all, but should be the target, again, good luck,:money:;)

Bella198421

cyclonebri1 wrote: »

Might seem patronising but it doesn't matter, it's what I do.

Pay for the car in cash.
Never borrow for a car.
If you don't think you can afford it, you probably can't
Owing money on a car is the worst poss debt you can have.

Sorry but it is a moneysaving forum:money::money::money:

I'm glad that I saved up the money for my car even though it was only around £600. My car isn't the best but it's what I can afford and it's all mine and I don't owe a penny to anyone.

vaio

If you pay some of it by credit (rather than debit) card the credit card company will also be liable if something goes wrong. Doesn’t have to be any particular amount, could be only £10.

Ask the dealer how he’d like to be paid the rest, normally debit card will be free, credit card will probably be 2 or 3% or you could do a cheque or even a wad of cash.

456789

suitcase full of cash always goes down well

Petree

try credit card with cashback the dealer might be silly and forget to charge 2-3% fee so you're quids in :money:

If not just use your Debit card, sometimes it says on the PDQ (c/card machine) to call the bank, they talk to you and ask your mothers maiden/dob/branch you last visited sometimes it works just like at tesco (bit dissapointing tbh few £k the same as your spuds )

Cash is a nice feeling but most dealers don't like taking more than £5k (insurance/money laundering)

Finance can be good, e.g. real 0% finance with no fees means you have cash sitting earning interest and cash to hand if the boiler blows up, I came in as a 20 year old looking at £12k car so the guy was rubbing his hands about the 20% 5 year finance deal I would get, so we haggled, and i haggled some more down to £9k and options fitted and then pulled out my switch card :rotfl:

More importantly, what car are you getting?