Am I protected ??????

redstev

Hi folks.

I'm buying a new car from a dealer and wanted to know if I pay the balance of £2000 on my credit card does this give me any protection.
I have paid a £200 deposit in cash.

My card has 0% interest on it so am thinking its cheap finance for me although the car dealer says I have to pay 2.65% card fee ( about £60) does this sound right ?

Thanks.........

opinions4u

The link below tells you what protection there is.

http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

Paying just £1 on credit card would give you the same.

thenudeone

A car dealer is unlikely to accept £2000 by credit card unless you pay extra to cover his merchant fees of 2-4%.

BJV

Just be careful, I did something very similar thinking I was protected using my Barclaycard.

The invoice was in the name of a company but I paid on my card. There was a problem and to cut a long story short I had to get Barclay's involved. After three months they told me that they had made a mistake and as the invoice was not in my name the credit card protection rules did not apply.

lisyloo

Yes, it's normal for dealers to charge a fee, but it's still a cheap loan if it's 0%.

McKneff

You could make it part of the haggling not to be charged the cc fee.

I managed it a couple of years ago, I paid about £2k on it and they didnt charge me.

YorkshireBoy

Just done the same.

Dealer would only accept credit cards to a maximum of £1,500 and their fee was 1.5%.

Their policy was to waive the fee for their standard £250 deposit, so I used a credit card for the deposit (and resultant section 75 protection) and paid the rest by debit card when I picked it up.

lisyloo

I paid about £2k on it and they didnt charge me.

That's an indication that you didn't push them down enough on price if they could absorb it :-)
But if you're happy.......