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Using 0% Card to fund car purchase
scottscottie
Posts: 5 Forumite
in Credit cards
How does this sound for a plan? Any pitfalls?
I am thinking about getting a Tesco (0% interest for 15 months) Credit Card to part fund a car purchase.
I'm making an assumption that a car dealer will accept a part cash and part Credit Card payment although I appreciate I might have to negotiate as I guess the dealer will incur a charge for taking a CC payment. (Does anyone know how much a CC company charges a retailer for accepting or processing a payment?) I'm also assuming that Tesco will give me enough credit, say £3-4k to make it worthwhile.
Is this too simple, i.e. getting an interest free loan from Tesco for 15 months or am I missing something?
Any advise would be appreciated.
I am thinking about getting a Tesco (0% interest for 15 months) Credit Card to part fund a car purchase.
I'm making an assumption that a car dealer will accept a part cash and part Credit Card payment although I appreciate I might have to negotiate as I guess the dealer will incur a charge for taking a CC payment. (Does anyone know how much a CC company charges a retailer for accepting or processing a payment?) I'm also assuming that Tesco will give me enough credit, say £3-4k to make it worthwhile.
Is this too simple, i.e. getting an interest free loan from Tesco for 15 months or am I missing something?
Any advise would be appreciated.
0
Comments
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Most dealers will charge you 2.5 - 3% for using a CC.0
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