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Car finance settlement

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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

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 18 January 2022 at 8:38AM
    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.)


  • born_again
    born_again Posts: 20,377 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    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 lane
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