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

CliveOfIndia

Coco77777 said:

I think i'll see if they will take part cost by CC such as 5-10k as that would help.

You can ask, but I'd be very surprised if they'll accept more than £500 - £1000.

Coco77777 said:

can I take this to get a discount, then pay it off straight away to avoid any charges?  

Usually yes - although they are allowed to charge up to 2 months of interest as an early settlement charge.  But hopefully any discount/contribution they give for taking out the finance will still make it worthwhile.

CliveOfIndia

Coco77777 said:

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? 

You'd need a Money Transfer card for that.  There will be a fee for doing the transfer, and it's likely you'll be offered a low-ish rather than zero percent APR.  Unless you can manage to get 0%, you're probably better off using your savings.  You'd need to work out whether it's worth paying the fee and interest - are your savings earning more than what you'd be paying?

DullGreyGuy

You can potentially get a Money Transfer credit card and then payoff the finance with a debit card payment but you get no rewards for a MT or BT and its fairly unlikely you'd get a high enough limit, especially on a MT card (though MBNA did just give me a limit that would have worked for you). 


Have you actually checked the AirMiles benefits? A lot dont seem to understand how they work or how many you need to really get a benefit. 

CliveOfIndia

Coco77777 said:

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

In that case, have you considered a cheaper car?  You could buy a very nice, fairly new used car for half that price.  Probably a slightly older but still very decent car for a quarter of the amount.

It's up to you of course, and different people have different priorities.  But £30K seems to me like an awful lot of money to spend on a car, especially if you're having to cancel the family holiday in order to afford it.

Brie

I've used credit cards to buy cars in the past and it can be a bit of a juggling act.  I have used an M&S card as that gives ££vouchers to use in their store which is fine by me.  Generally I've had to get them to agree to a deposit on the card, then do a BT (balance transfer) to a card with a 0% interest offer (MBNA generally) and then make a couple more payments on the M&S card and a couple more BTs to cover the balance.  I've also used a Barclaycard in the past that had a 0% purchase offer so I could save the fuss of looking for a BT a few months down the road.  Just to ensure there is no problem with what I'm trying to do I ring the card's customer service team and tell them I'm about to make a very large purchase.  Sometimes when I've needed to I've told them I want to increase my credit limit in order to make the purchase.  

If you are trying to use a card to get a money transfer into your bank account or even a BT to another card you don't normally get any points or cashback.  You might get points or cashback if you are using a 0% purchase offer but that will depend on the T&Cs of that card.  What might work for one Barclaycard may not work on a different one as they have different perks.  

Personally I've never found a car sales person who was able to explain their finance deals satisfactorily and so I wouldn't believe a thing they say.  It will ultimately come down to the T&Cs that you sign because if the sale person gets it wrong you will have signed the T&Cs and there'll be no recording of what you have been told.  

Martico

Wouldn't this fit better in the Credit Cards part of the forum, seeing as it's about cards rather than help getting out of debt? 

sourcrates

This is the debt board, not really within our scope.

This is best discussed on the credit card board.