Have cash but want to use CC for car purchase , ?credit limits?

curlytop12

Hi, I have no debt. I want to buy a car for about £7000.I have the cash to pay for it but would like the protection a CC gives. How would I know If I can get a limit that big before actually getting the card....or is that not possible? If not, whats the safest way to pay for the car please?
TIA

born_again

1st you need to find out if dealer will take a CC for the full amount many wont.

Even paying a deposit of 1p on a CC, will get you S75 cover. But it is not a get out of jail free card covering everything.

Nasqueron

curlytop12 said:

Hi, I have no debt. I want to buy a car for about £7000.I have the cash to pay for it but would like the protection a CC gives. How would I know If I can get a limit that big before actually getting the card....or is that not possible? If not, whats the safest way to pay for the car please?
TIA

Many dealers will take a deposit say u to £500 on the card to secure it, you could then use a money transfer card to save a bit of interest perhaps?

400ixl

Paying any amount such as the deposit gives you the same coverage as paying the full balance. So you don't need the card to have the full balance as the limit.

Most garages don't allow the full balance to be paid on a credit card due to the fees, but many / most allow the deposit to be paid that way.

Brie

Some dealerships will take a card for full payment - I've done so in the past and then done BTs so it's 0% interest.  Fees were minimal so it made sense to do so.

kempiejon

Brie said:

Some dealerships will take a card for full payment - I've done so in the past and then done BTs so it's 0% interest.  Fees were minimal so it made sense to do so.

That was what I did too, full amount on the best card for cashback/points then BT for longest/cheapest interest free - but it was years ago and for a fairly cheap £5k car

martinbainbridge1975

I bought a car recently - a lot of the above are correct.

I had a deposit in my current account and was financing the rest, the dealer did not take card payments over the phone, they sent a payment link so I used my credit card for the deposit to get S75 coverage then paid off the balance when the statement dropped in 

curlytop12

Thanks so much all of you, that's great! I'll pay a deposit on a cc, then pay that off within the interest free period, along with the balance. Fantastic.

DullGreyGuy

martinbainbridge1975 said:

I bought a car recently - a lot of the above are correct.

I had a deposit in my current account and was financing the rest, the dealer did not take card payments over the phone, they sent a payment link so I used my credit card for the deposit to get S75 coverage then paid off the balance when the statement dropped in 

If you are buying it with finance the finance itself would have S75 and S75a cover, assuming arranged by the dealer, the later having a higher limit than the former.