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Credit card for car buying

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Credit card for car buying

edited 30 November -1 at 1:00AM in Credit Cards
9 replies 1.1K views
lowmileslowmiles Forumite
83 posts
edited 30 November -1 at 1:00AM in Credit Cards
I'm looking to buy a small car for my wife, I'm paying 2k upfront and want pay around the same on a credit card rather than putting it on finance. I already have credit card I can use. Would it be cheaper to buy on this card and then balance transfer to a 0% card or are there any good % cards that you can spend on directly? I'd be looking to pay it off in around 14 months so a long deal isn't vital.

Replies

  • Willing2LearnWilling2Learn Forumite
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    Have you asked your current credit card provider if they will do a promotion for you?

    Edit: Also see the article below re balance transfer cards:
    https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

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  • SystemSystem
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    I would first check with the dealership that they will take credit card payment, just to be sure

    You would need to check your current credit card to see if its 0% on purchases... if not then likely going to be 20%+ so you would either need to get a new balance transfer credit card which will cost around about 2% transfer fee or get a 0% purchase credit card and pay with that which they'll be no cost at all
  • drlabmandrlabman Forumite
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    Have you checked whether you can pay by credit card? When I bought a car recently, the dealer told me that they don't accept credit card payments. He said the reason is that you could "pay" for the car, drive away and then call the CC company to cancel the transaction e.g. saying the card was stolen or something. They wouldn't even accept part bank transfer, part credit card.
    Give a man a fish, and he will eat for a day. Teach him how to fish, and you’ll get rid of him every weekend.
  • AlbermarleAlbermarle Forumite
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    Recently bought a car for my daughter from a Peugeot dealer . They were OK with a credit card for the £500 deposit . However when I went to pick the car up and pay the balance they would only accept a debit card or a bank transfer.
  • macmanmacman Forumite
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    Most dealers won't, because the fees are substantial and they can no longer charge them back to the customer Put say £100 on your CC to get S75 protection.
    No free lunch, and no free laptop ;)
  • foxy-stoatfoxy-stoat Forumite
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    Try and get a money transfer option to your bank, then after the short intro period is up balance transfer it to a longer 0% period, will costs you around 3% per transaction.
  • Can use a CC? When last bought a card I put 4K on a credit card, i'll certainly ask when I go around the garages.
  • zx81zx81 Forumite
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    lowmiles wrote: »
    Can use a CC?

    You need to ask them.

    Things are different now that the card charges can't be levied.
  • drlabman wrote: »
    Have you checked whether you can pay by credit card? When I bought a car recently, the dealer told me that they don't accept credit card payments. He said the reason is that you could "pay" for the car, drive away and then call the CC company to cancel the transaction e.g. saying the card was stolen or something. They wouldn't even accept part bank transfer, part credit card.


    Can't believe a car salesman would lie
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