Credit Card - Car Finance PCP

Are you able to pay the final payment of PCP on a credit card? If I pretend to make an optional payment it appears that a credit card would work. 

Comments

  • Generally not, but check with the lender.

    Also be aware that it may be processed as cash.
  • TadleyBaggie
    TadleyBaggie Posts: 6,555 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 19 February 2020 at 12:12PM
    I had PCP with RCI Finance (Renault and Nissan) and they only accepted bank transfers to pay off the balloon, even debit cards were not supported.
  • Alexd52
    Alexd52 Posts: 318 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 19 February 2020 at 1:34PM
    Hamiltonc said:
    Are you able to pay the final payment of PCP on a credit card? If I pretend to make an optional payment it appears that a credit card would work. 
    The way to do it would be to use a 0% money transfer card, put the money into your account and then settle the balloon payment from there
  • Hamiltonc
    Hamiltonc Posts: 103 Forumite
    Fourth Anniversary 10 Posts
    Alexd52 said:
    Hamiltonc said:
    Are you able to pay the final payment of PCP on a credit card? If I pretend to make an optional payment it appears that a credit card would work. 
    The way to do it would be to use a 0% money transfer card, put the money into your account and then settle the balloon payment from there
    How do you know how much you can get on a money transfer in terms of limit without submitting application and affecting score?
    Online it accepted £1 on credit card so it may well do but of course in future this may not be possible.
    Once you have the money Transfer when the 0 percent is nearing end I assume you can balance transfer that? :)
    Another option would be a lowest possible interest loan if that is the last and only solution. 
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