buying £10k car from a dealer

pimento

Ask for the price without trading in your car. You'd almost certainly be better off selling it yourself (which is what I did).

Inactive

pimento wrote: »

Ask for the price without trading in your car. You'd almost certainly be better off selling it yourself (which is what I did).

Good advice, ask for both prices, with/without trade in, you will then find out just how much the dealer is going to " beg " your car for.;)

Pincher

You seem to be saying you have a £10k+ credit limit.

MBNA does balance transfer to your current account.
They seem to be doing a ten month 0% deal with 2% Balance Transfer Fee. If the dealer is charging a 2% handling fee for using a credit card, it costs the same, but you don't have to pay the £10k back for ten months with the Balance Transfer.

Obviously you should not have other debt on it attracting higher interest, and you need to make ~3% minimum monthly payment.
The repayment history should enhance your credit score, which is a nice side effect.

I think there is an upper limit for the consumer credit protection,
probably £5,000, so a car worth £10,000+ would not be covered.

longwalks1

thanks people

pincher

sorry confused over the 10 month 2% bit, MBNA do a cash transfer to my current account but with only 10 months interest free (after the 2% fee)?
Or if i bought it on a credit card with 0% on purchases (think virgin do 13 or 14 months, but thats an example), id still pay back the same but have longer to pay it back?

was hoping to pay back £600 a month and anthing left, BT it to a 0% card a month before the card i buy the car on expires

TheRock

Take an auto trader, pen and paper with you, walk around the car take some notes about what you like and dont like about the car. it'll show the dealer your serious and when it comes to the price you can say i like it but its scratch here/due for service/another one close by cheaper etc. even if they say they will correct any problems still use them as barter a price, dont ask you dont get! Good Luck.

haveibeendone

Pincher wrote: »

I think there is an upper limit for the consumer credit protection,
probably £5,000, so a car worth £10,000+ would not be covered.

The limits for S75 CCA are abover £100 and less than £30,000. There is an article about it on another part of this site.

When I had a problem with a dealer the local Trading Standards dept said that they would not help over £5,000 as this was the limit on the so called small claims court.

The bank were as always reluctant to pay out money but were looking at it. However when the dealer was was contacted by VISA he rapidly took the car back and repaid the money (£10,400).