Can you buy a car with a credit card

Burnsie1983

So, I nearly need a new car.

I thought about getting a loan as I don’t have the cash to hand.

However, I'd like more repayment flexibility than the loan has (over, rather than underpaying).

If I get, say a interest-free CC with a £5k limit, but some of my savings to it, I could buy a car and pay it off in my own time and save on the APR (other than probably a couple of balance transfers at the end of a couple of interest free periods).

However, my friend that when buying her car, she wasn’t allowed to do such as the car company said its not allowed.

Any advice?

Fighter1986

You need to obtain a Money Transfer card from MBNA. They will transfer a sum into your current account interest free for two years, with a 2.99% fee.

You can then use the funds they put in your current account to buy the car by cash or debit card. 

SaverRate

Depends on the dealership I think as we have paid by credit card before

D3xt3r5L4b

It depends if the dealer accepts credit cards.

Most don’t. 

MallyGirl

you might be able to put a deposit on a card but rarely the balance due to the fees they will be charged. You cannot 'put some of your savings on it'

eddddy

It's up to the dealer whether they'll accept payment by credit card. They'd probably have to pay a small percentage of the price as a fee to their bank - so they might not be keen on losing that small percentage. They're not allowed to charge you extra to cover their fees (although some 'slightly dodgy' dealers might try to get around that - for example, by offering slightly less discount if you say you're paying by credit card.)

But if they'll accept credit card payments, there shouldn't be a problem paying partly with your savings (i.e. by debit card) and partly by credit card.

FWIW, I recently paid for a car with a credit card - simply because the dealer was prepared to accept it, and I got a bunch of reward points, but I paid it off at the end of the month.

daivid

I paid the deposit for mine by CC then rest by DC but IIRC the dealer (a Honda dealership) would have taken the balance by CC too, however my credit limit wouldn't have stretched that far.

J_B

IIRC We paid 1K on credit card (the max they would accept) 6K on debit card and then 6K on Nissan Finance which gave us two free services.

harsh_but_fair

As above really - you can pay buy anything on a credit card as long as you have the right credit limit and the merchant accepts credit cards for that purchase

you may be able to haggle with the garage and say either let me pay by credit card or I'll go elsewhere for my car

lhsecons

I bought a Ford car in November and the dealership was willing to accept £5000 on a credit card and the rest on a debit card. So it’s definitely worth asking them.

Kendall80

I bought my car with a 0% purchase CC for £8500. Dealership wanted to charge a fee but I negotiated out of that. I balance transferred after 2 years to another 0% CC and paid off the balance with the 'stoozed' amount at a time of my choosing. Of course current accounts were offering 4 or 5% interest back then. Despite how well that went, i'm not certain i'd do the same in the current circumstances.