Help. I am completely at a loss on how to make a purchase and which credit card to use..

Coco77777

I would like to make a purchase of a car, which is about 30k. I have the money already available with some shares, savings etc. but would rather not take it out all in one go, so essentially I could buy it in cash... BUT.. I was wondering how best to pay for the car. Ideally i'd like to use an airmiles credit card, so one that collects Avios, or Virgin Air miles, then do a balance transfer from one card to the next to pay it off. Is this possible and are there cards that can do the transfer with no cost? On the other hand i've also been told some car dealerships only take £1000 max in credit card for payments... so.. if this is the case, can I take out their finance and then pay that off with the air miles credit card immediately so I don't get interest, then again switch between the cards. The original 0% card will have the end debt which i'll pay off in stages before it runs out. Any advice here as to which cards I can use and how best to make this transaction so I can gain air miles, but don't spend a ton of money in transfers  etc or get caught out? 

Coco77777

PS. I have good credit, so getting the cards or applying for them is fine. Just unsure as to which I need to get. 

DullGreyGuy

As you say, no dealership is going to allow you to pay £30k on a credit card... our local Mercedes dealership doesn't even accept the Mercedes AmEx (US issued) ironically. 

Be careful with the idea of paying the finance with a credit card, its likely it would be considered a cash like transaction and so not get any rewards but also be hit by a cash transaction fee/interest. Yes you could mitigate the interest with a BT but you've then missed your objective of getting airmiles.

Andyjflet

Just pay it by bank transfer and quit trying to juggle cards, finance and air miles. 

Coco77777

Since i've had to sell my old car at a massive loss due to the Ulez scheme, i'm having to forgo our family holiday, so the air miles would be a massive help if we can do it somehow. 

Coco77777

What's a BT? 

Neil49

Coco77777 said:

What's a BT? 

Bank transfer? 

CliveOfIndia

As above, you aren't going to be able to do this.  Probably the best you can do is pay a deposit by CC, thereby earning some points/whatever.  It'll also give you S75 cover, as long as the car is not a penny more than £30K.

You might want to investigate their finance package - there may be some incentive, such as them making a contribution to the cost.  Then pay that off using cash - you won't be able to use a card to pay it off, as noted by DullGreyGuy.

DullGreyGuy

Coco77777 said:

What's a BT? 

Balance Transfer

Coco77777

I think i'll see if they will take part cost by CC such as 5-10k as that would help. I've heard that some car dealerships offer you most discount if you take their finance packages too so I could, as advised take the rest on that, can I take this to get a discount, then pay it off straight away to avoid any charges?  

Coco77777

Question... which credit card would I use to put actual money into my bank account to then use as a Bank Transfer? Is there one I can get cash from and then pay off that card at 0% interest? Does that exist?