Evan Halshaw said do bank transfer to avoid 0.2% fee?

donkey388

Hi all

I've decided to buy a car from Evan Halshaw and signed all the paper work (£7,000)

I'm due to collect it on Wednesday and they said if I pay by debit card I'll be charged 0.2%.

To avoid this fee, I can do a bank transfer which will be free.

Will I still get the same protection if I put £100 on a credit card and do the rest via bank transfer?

What's people's thoughts on doing a bank transfer? Is it worth paying the 0.2 fee for protection?

Quentin

donkey388 wrote: »

if I pay by debit card I'll be charged 0.2%.

You don't need to put £100 on a credit card to get s75 protection if that's what you mean.


S75 kicks in as long as the item costs £100 or more, and as long as it was part paid by a credit card


Read up in theMSE guide: http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases


If it's only .02% then you will be saving £14 by not using your debit card, though debit cards don't all give any protection (if you are after s75, then its for credit deals)

vansboy

Possibly too late now, but I'd have tried to 'haggle' any fees, into the purchase price.

You could possibly arrange to withdraw the full amount from bank in cash, which would cause MORE costs and inconvenience, to the dealer, so maybe imply thats an option for you.

But as mentioned, good idea to pay as much on card as possible (without any fees applied, to you, of course.

VB

Tothepoint.

vansboy wrote: »

Possibly too late now, but I'd have tried to 'haggle' any fees, into the purchase price.

You could possibly arrange to withdraw the full amount from bank in cash, which would cause MORE costs and inconvenience, to the dealer, so maybe imply thats an option for you.

But as mentioned, good idea to pay as much on card as possible (without any fees applied, to you, of course.

VB

Why as much as possible?

TheBanker

Are we talking about debit card or credit card?

Credit cards give S75 protection (and you only have to pay £1 on the card to get this). Credit cards usually attract a fee from car dealers.

Debit cards do not give S75 protection but equally do not normally attract a fee from car dealers.

If you use a decent cashback credit card, the cashback will cancel out the 0.2% fee anyway.

vansboy

Tothepoint. wrote: »

Why as much as possible?

I'm assuming, that most Moneysavers, use credit cards that would have some sort of cash or points style reward scheme.

Just to a few more pennies in your own pocket!

VB

agrinnall

vansboy wrote: »

I'm assuming, that most Moneysavers, use credit cards that would have some sort of cash or points style reward scheme.

Just to a few more pennies in your own pocket!

VB

But the credit card usage fee is likely to be rather more than the 0.2% charge for a debit card, and quite possibly more than could be earned from cashback. So as suggested, if the fees can't be negotiated then a small amount on credit card and the rest by transfer is the most cost effective option that includes S75 protection.

bigadaj

Though of course not buying from Evans halshaw would have been a good first step.

Moto2

agrinnall wrote: »

But the credit card usage fee is likely to be rather more than the 0.2% charge for a debit card, and quite possibly more than could be earned from cashback. So as suggested, if the fees can't be negotiated then a small amount on credit card and the rest by transfer is the most cost effective option that includes S75 protection.

It should be 0.3% for a credit card, well worth it IMO

agrinnall

Moto2 wrote: »

It should be 0.3% for a credit card, well worth it IMO

If that is correct (is that personal knowledge of the Evans Halshaw charge? If not I would expect it to be higher than that, more likely in the 1-2% region) and the OP has a cashback card that pays more than 0.3% then yes, it's worth it.

Lipstick99

Pay it all on your credit card, and pay the cc bill same day.

That's what I did. It means any comeback and CC company take up your claim.