Buying from car dealer with credit card??

thescouselander

iamana1ias wrote: »

((sigh))

Shall we start again?

Pete.g said that he had to transfer money from his credit card into his current account.

There are only a couple of cards (egg money being one of them) that don't charge to do that. Others consider it to be a balance transfer and will charge 3-4% for the privilege.

That's why I said that there is usually a charge, just in case the OP thought it was a fee-free alternative.

In your case you did it the other way, and were probably just lucky that your dealer didn't charge you for the transaction.

My point is that there may be no need to transfer any money from the 0% card if the dealer doesn't charge for using it - the OP might just be able to pay on the card directly - he needs to find out if there will be a charge for this or not.

peter2511

hi i am looking to buy a used car for about £2000. i have a bed credit score so the rate i got for the fiance was 24.9% apr

so i was thinking about getting this on my credit card as it is only 15.9% apr

am i right in thinking this would be the best thing to do

thescouselander

peter2511 wrote: »

hi i am looking to buy a used car for about £2000. i have a bed credit score so the rate i got for the fiance was 24.9% apr

so i was thinking about getting this on my credit card as it is only 15.9% apr

am i right in thinking this would be the best thing to do

If you really must use credit have you checked what sort of rate you'll get on a unsecured personal loan?

Tim_Deegan

It is usually cheapest to get a bank loan rather than pay the credit card interest rates.

harveybobbles

Most dealers, me included will charge someone 2.5% if a credit card is used for a transaction, as this is what the bank will charge us.

david39

If the dealer doesn't charge you a credit card charge (of around 2.5%, as stated above) then you have not got the best deal out of him on the price you are paying for the car - otherwise he would need to charge you for the cc transaction.

vikingaero

david39 wrote: »

If the dealer doesn't charge you a credit card charge (of around 2.5%, as stated above) then you have not got the best deal out of him on the price you are paying for the car - otherwise he would need to charge you for the cc transaction.

Agreed. Most dealers will take credit cards for the deposit but not the final balance. If they do accept CC's on the final balance then it's likely that they are desperate to shift the stock or it's overpriced enough to absorb the % costs.

harveybobbles

We don't charge for the deposits, as we only ask for £100. But if they use their CC for the balance then we charge them 2.5%.

asandwhen

Im using my credit card tomorrow to pay for a car at a Nissan dealer.

They told me it could only be a max of £1000 but can put that on 3 different cards to make £3000