Buying 2nd hand cars with credit cards

bobsy852

Hi everyone.
My wife and I need a new car at quite short notice. As we have some new family coming soon and we do quite a lot of driving we need something more reliable than we currently have. So we are willing to move up from buying old bangers to something more substantial.

We've found one we like through a private seller.
I at first thought about getting a loan to fund it but since it is within my current Barclaycard limit I thought about ways to pay it with the credit card.
I am hoping that the seller might be open to me paying for it through paypal (as a "gift" seen as Paypal buyer protection doesn't cover vehicles and that way the seller doesn't incur any fees). I would pay around £150 in fees on this transaction for funding it with a credit card.

I would then hope to apply for a 0% balance transfer credit card and have it paid off in two years (I've come up as 100% eligible for a number of them through the MSE website soft checker).
However, how can I be sure that when I apply for a 0% card I will be given enough credit to cover the full cost of my barclaycard (which will then be around £4500).

Thanks in advance!

Potbellypig

You can't.

bengalknights

As above plus you may find that paypal anti fraud decicdes to reverse or block the transaction.

Nasqueron

You should try and get a 0% money transfer card if you want to pay it off over a certain period, that way you have the cash in your bank and can pay that way

PRAISETHESUN

I'd stay away from PayPal. You've clearly said that they do not cover automotive purchases (which this clearly is, no matter how you try to spin it), and if you start sending "gift" payments to strangers then I can imagine this is a very easy way to lose money with zero protection. You need either a low-interest loan or money transfer card to pay a private seller. Of course this all changes if you buy from a dealer/small business that accepts credit cards...

I'm also not aware of any way of checking what your limit might be, short of actually submitting an application for a new card...

bobsy852

Thanks everyone.

I'd never heard of a money transfer card before.
I presume that this is a card which allows me to transfer credit to my bank account at a fee or 0% if I can find such a card?

noh

bobsy852 wrote: »

Thanks everyone.

I'd never heard of a money transfer card before.
I presume that this is a card which allows me to transfer credit to my bank account at a fee or 0% if I can find such a card?

Yes.
Some more info here.
https://www.moneysavingexpert.com/credit-cards/money-transfers/