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Car finance settlement
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Stardoll_2
Posts: 6 Forumite


in Credit cards
I want to settle some car finance of about £4000 with VW financal services. If I use my tesco credit card for the whole amount i will be charged a transaction fee. If I do a bank transfer I won't have the section 75 protection or should I pay £101 on the credit card and the rest by balance transfer?
Thanks
Thanks
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Comments
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It's very unlikely they'll accept a credit card. If they do, it's likely to go through as cash, so incurring fees and interest. You also can't balance transfer it.
Look at whether a money transfer option makes financial sense, with the additional fee.
Section 75 isn't a consideration, as all you're looking to do is refinance a debt. (If it were, even a penny is fine - no need for £101.)
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Many finance co's will not take CC to pay off a debt.
The issue with S75 is pointless. If you could settle the finance with the CC that is the end of it. That is the contract. So unless it was not paid. Then there is no claim.Life in the slow lane1
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