Clearing a car loan with a credit card to maximise points

Jamesvi

Hi

I have a 20k Audi car loan I'm hoping to settle ASAP. I'd like to maximise any points/offers. Audi sadly advise I can only use a credit card up to 3k, if the balance is greater they want a cheque or bak draft. I have an Amex Plat charge card but apart from that no other cards apart from my Llyods bank card. Any ideas or advice great fully recieved.

Buzby

Basically you are trying to shift the financial burden and force it on to your service supplier - which, you have found, they are not keen on. And with good reason!

I've noticed a number of firms imposing maximum caps (where previously it was a flat percentage). This was been brought in to limit their exposure to costs - assuming they are not prepared o cover it as part of the sale.

Your finance deal has no ability to offer late term discounts - the time for that it at purchase.

Jamesvi

Well, not quite. I have the funds in a savings account(s). What I'm looking to do is to try and maximise my "bang for my buck".

grumbler

Jamesvi wrote: »

I have a 20k Audi car loan I'm hoping to settle ASAP. I'd like to maximise any points/offers. Audi sadly advise I can only use a credit card up to 3k, if the balance is greater they want a cheque or bak draft.

To pay for a car or to pay off the loan?

Any ideas or advice great fully recieved.

The only way to use the card for paying the loan off is to get cash transferred to your bank account that will cost a lot and will not result in points/offers.

lisyloo

Can see what you are trying to do (and it's sensible BTW) but I don't think you'd get points/offers for doing a balance transfer or money transfer.