Credit card deposit for new car and rights if problems

Kinnie

We are buying a new car can only put a deposit down with C card, wanted to pay all, as I thought I had a bit more clout if anything went wrong

salesman told me because use deposit on C Card still retain all the rights ? Is this correct I’m sure some clever person will know the answer hopefully I’ve posted in the right place ? Thanks

McKneff

You are fully covered even if you only pay £1 towards the cost of your card,
That's it xx

Sandtree

As long as the car is between £100 and £30,000 then just "something" has had to have been by credit  not the whole amount... normal rules apply about having to be paid on the card not cash withdrawn from the card, paid directly to the merchant not via paypal or other agency etc

If its £30,000.01 or more then you have to use tied finance and not a credit card (eg PCP)

If its £60,230.01 then no protection for paying by credit.

McKneff

That should read CAR, not card

Kinnie

Thanks everyone 

cx6

How on earth did someone come up with the figure £60,230???

DB1904

McKneff said:

You are fully covered even if you only pay £1 towards the cost of your card,
That's it xx

They're fully covered if they pay a penny by card.

born_again

DB1904 said:

McKneff said:

You are fully covered even if you only pay £1 towards the cost of your card,
That's it xx

They're fully covered if they pay a penny by card.

Subject to the details in @Sandtree post. 

MarvinDay

cx6 said:

How on earth did someone come up with the figure £60,230???

It will be that particular figure because the Consumer credit act was implemented in the UK following the issuance of an EU directive (the European Consumer Credit Directive) and it's the EU directive that states what the applicable amounts are.

In the case of tied finance, the maximum amount is €75,000 and the EU directive states that when it is adopted into legislation in any EU member state, the financial amounts will be converted into local currency using whatever the exchange rate is on that date and it can be rounded up or down to a maximum of €10 

Sandtree

cx6 said:

How on earth did someone come up with the figure £60,230???

Sorry, was a typo, its £60,260... not that its any better

I'm not even sure when section 75A was added as the "A" denotes it wasnt a section of the original act. The values have changed over the years as in 1984 the lower limit of S75 went from £30 to £100 and the upper limit from £10k to £30k in 1985. 

Edit: got distracted and didnt refresh before posting so didn't see @MarvinDay's post where they gave the actual reason. 

Sounds like we didnt really want to do it and so did an exact FX conversion rather than putting in a slightly higher rounder number (EU laws allowed you to go above the levels of protection but not below)

MattMattMattUK

Kinnie said:

We are buying a new car can only put a deposit down with C card, wanted to pay all, as I thought I had a bit more clout if anything went wrong

salesman told me because use deposit on C Card still retain all the rights ? Is this correct I’m sure some clever person will know the answer hopefully I’ve posted in the right place ? Thanks

As others have said, you can gain elements of protection by paying by card, but it has to be said that if you are having doubts about the car already then perhaps it is not the right car?