Spending cash on a private car ?

DavidBrown1980

I'm looking to spend £2000 on a car from a private individual.

But the truth be told i'd rather put it on credit than give cash straight out. Is that possible?

I've got cash and £2000 of credit on my new Barclays Visa platinum account with 3 months interest free credit.

My question is what is the best way to spend my money on the car?

how could i get money into someones bank account from my Barclays Platinum card? I called the platinum number which got me through to an indian guy who said i can just take the recipients sort code and account number into a branch and they will transfer it, i phoned barclays main customer service tel (0875) in the UK they said it's not possible, but i'm sure there's a way.

Hope you can help

David.

Ebe_Scrooge

Some credit cards allow you to do a "balance transfer" direct into a bank account - i.e. they depost funds into the bank account and debit your card with the same amount. I don't think many cards do this, though, and you'll need to be careful about how much fees & interest you'll pay. Also, you won't be getting the credit card purchase protection by doing this, if that's your reason for asking :-) But hope this is of some help.

LandyAndy

DavidBrown1980 wrote: »

I'm looking to spend £2000 on a car from a private individual.

But the truth be told i'd rather put it on credit than give cash straight out. Is that possible?

I've got cash and £2000 of credit on my new Barclays Visa platinum account with 3 months interest free credit.

My question is what is the best way to spend my money on the car?

how could i get money into someones bank account from my Barclays Platinum card? I called the platinum number which got me through to an indian guy who said i can just take the recipients sort code and account number into a branch and they will transfer it, i phoned barclays main customer service tel (0875) in the UK they said it's not possible, but i'm sure there's a way.

Hope you can help

David.

If you can do it, which I doubt, I think it will count as a cash withdrawal and will not qualify for the 3 months interest free period. I presume the interest free excludes cash withdrawals otherwise you could just go into a Barclays and take the cash.

Inactive

The OP may get a wider audience if he/she posts this in the Credit Card Section at the top of the Forum listings.

LandyAndy

Inactive wrote: »

The OP may get a wider audience if he/she posts this in the Credit Card Section at the top of the Forum listings.

How many times do they need to hear 'no'?:D

Jackinbox99

also credit card cheques could work here. You either write yourself a cheque then use the cash for the car, or give the seller the cheque and let him wait for it to clear. Not many cards allow you to transfer money straight into a current account these days, or if you do theres a nice fee involved.

LandyAndy

Jackinbox99 wrote: »

also credit card cheques could work here. You either write yourself a cheque then use the cash for the car, or give the seller the cheque and let him wait for it to clear. Not many cards allow you to transfer money straight into a current account these days, or if you do theres a nice fee involved.

They would but I don't think it would achieve the OPs purpose because cheques count as a cash withdrawal etc. etc.

DavidBrown1980

The question was kind of double barrelled.

question one being should i go credit, or cash... and why
question two being, even if i wanted to pay by credit, is it possible if the other person isn't a business.

I hope this helps.

Thanks for your unput thus far.

DavidBrown1980

Jackinbox99 wrote: »

also credit card cheques could work here. You either write yourself a cheque then use the cash for the car, or give the seller the cheque and let him wait for it to clear. Not many cards allow you to transfer money straight into a current account these days, or if you do theres a nice fee involved.

I presume i need to call the bank and get them to arrange a cheque? I don't have a cheque book for the Barclays Platinum.

Thanks

atrixblue.-MFR-.

i wouldnt buy private in this case. i'd rather have the security of a dealer purchase with a card. £2000 on car cash rest card, and a low finance option.