Buying a car with a credit card

regional

Hello. Looking to purchase a car for our son and was wondering if by buying it on a credit card it gives us some protection but not sure what ? Do any of you kind folk know if it would, and the protection it would offer please ? Many thanks.

BeenThroughItAll

You do not need to pay for the whole car on the card. Just put the deposit on your CC and you'll be covered by S75 protection, IIRC.

regional

Thanyou will do.

Rain_Shadow

Be aware that the seller will very likely charge you a fee (probably 2%) on any amount you pay by credit card.


IIRC the total value of the transaction has to be between £100 and £30,000 AND the amount paid by credit card has to be between £0.01 and £25,000 to qualify for S75 protection.

forgotmyname

Possible charge from the seller and will s75 still apply if the car is a gift for someone else?

mchale

Rain_Shadow wrote: »

the amount paid by credit card has to be between £0.01 and £25,000 to qualify for S75 protection.

Are you sure I thought it had to be over £100, also OP check that to gain protection the CC used has to be the main account holders ie not spouse's card.

Rain_Shadow

mchale wrote: »

Are you sure I thought it had to be over £100, also OP check that to gain protection the CC used has to be the main account holders ie not spouse's card.

Pretty sure. The transaction value has to be £100 to £30,000 but the amount paid on a card can be anything up to £25k

wealdroam

OP. have a read of MSE's Section 75 article.

You will see in there that it makes the credit provider, i.e. the card issuer, equally responsible with the seller for performance of the contract.