Using credit card to pay down car loan, advice needed.

Chanes · 31 March 2017 at 11:20AM

We bought a car and it worked out that it was a better deal through using the dealer's finance than buying it outright. The Salesman said we could pay if off within a few days costing only a few pounds in interest.

Instead of paying through the bank would it be possible to pay this loan with a credit card instead because it gives rewards for money spent, we would then pay the card.

Has anyone done anything similar and is there any pitfalls or problems I you know that I am not seeing?

[Deleted User] · 31 March 2017 at 11:26AM

It's more likely to be treated as a cash transaction or not accepted at all.

But check with them.

Chanes · 31 March 2017 at 11:33AM

Shame, I was hoping to get the rewards from the card. We saved really hard for quite a long time to buy the car and I guess I am looking for comfort in credit card points.

[Deleted User] · 31 March 2017 at 11:43AM

Chanes wrote: »

I guess I am looking for comfort in credit card points.

Perhaps buy some comfier seat cushions instead?

Chanes · 31 March 2017 at 11:45AM

Deleted_User wrote: »

Perhaps buy some comfier seat cushions instead?

I was hoping for more than cushions. :rotfl:

Using credit card to pay down car loan, advice needed.

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