Using credit card to pay deposit for new car

poppasmurf_bewdley

aabs wrote: »

BUT what if the dealer went bust just after you collected your car.

Would paying the deposit on credit card cover you for this as the hpi Company may have an interest in your vehicle.

Yes. That's the whole point of paying a deposit of more than £100, or the whole balance, with a credit card.

aabs

Yeah,
that's what I thought but I'm struggling to find any evidence to support the theory

bigadaj

aabs wrote: »

Yeah,
that's what I thought but I'm struggling to find any evidence to support the theory

It's not a theory it's fact.

You are protected from misrepresentation, failure to fully a contract and the company going bust. So in your example if there were finance on the car when you bought it you'd go to the dealer for recompense first, if they went bust then you'd claim against your credit card.

ioscorpio

I just bought a used car from Bristol Street Motors, they asked for a £100 deposit by debit card, but I paid by credit card and I did not get charged any interest. I paid the balance by debit card.
http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

arcon5

aabs wrote: »

Yeah,
that's what I thought but I'm struggling to find any evidence to support the theory

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/31/creditcards-31.htm

Section 75 of the consumer credit act for goods costing between £100 and £30k.

The amount you pay with the CC can be anything so long as the price of the goods themselves are between that value