Buying a car with a credit card

confused57

I'm thinking of buying a new (well new to me) car. I have enough in savings to pay for it (approx £8,000) but someone suggested buying it with a M & S credit card to get the points. I realise that using the card outside of Marks will only give me half the points but I think this might be a good idea. Any comments?

[Deleted User]

most dealers (if not all)will charge around 3% for payment by cc(£240 on £8k car)negating any points from m&s i would imagine

newbutold

confused57 wrote: »

I'm thinking of buying a new (well new to me) car. I have enough in savings to pay for it (approx £8,000) but someone suggested buying it with a M & S credit card to get the points. I realise that using the card outside of Marks will only give me half the points but I think this might be a good idea. Any comments?

I did this, well 5k deposit the rest was on finance. I put it on my M&S card to get the &more points, then I paid it off in full when I got the CC bill.

It was a few years ago now and was a main dealer, they didn't charge me any surcharge/CC fee.

Plxply

If you're looking for Section 75 protection too you only need to pay a small amount, it could theoretically be £1 as the whole amount is covered. Paying with your card will be costly though as I'm sure the dealer will pass on the merchant fees to you.

DominicJ_2

Chances are you will be hit by a credit card fee that negates your points value

lisyloo

It was a few years ago now and was a main dealer, they didn't charge me any surcharge/CC fee.

If they were hhapy to absorb a 3% credit card fee, then that implies you didn't haggle enough on the price.

confused57

Thanks very much for advice, I will ask if I will get charged by the dealer for using the card then make my decision then. Thanks again.

newbutold

lisyloo wrote: »

If they were hhapy to absorb a 3% credit card fee, then that implies you didn't haggle enough on the price.

It was a brand new car & I got a better price than any other dealership would go down to. However for all I know maybe the rep forgot to add the CC charge on, that said no such charge was ever mentioned.

OP I would ask if you can use CC & if no surcharge you may as well get the &more points and treat yourself in M&S.

londonTiger

i was gonna do that but found that some dealers didn;'t take ccs, instead i paid £1100 insurance with my cap1 mastercard with introductory rate 5% cashback.

admiral charged me £6 cc fee. I got £55 cashback from cap1.