Paying for a Car, .......................

[Auric Goldfinger]

Question, Briskonions, honest answers please......

 

 

If I had, say £2k in cash for a car, Would  you pay the 2K in cash or put the car on your Credit Card and pay off the same day.

 

If the car is a Lemon would I have any chance of getting my money back if I paid by CC or would you just pay cash and hope for the best.

 

 

(  It's a Motor trader not Private sale ) 

 

 

Thanks

 

AG

[Chriswright03]

I would put it on my credit card because I get money back on it and as you say you have 'some' protection that way as well.

[Llanigraham]

Credit card and pay it off asap.

[Jonny5ive]

Credit Card. That is all.

[999pooch]

Credit card if you can.

Have you checked they will accept a CC card payment. Not all will.

[Titanium_Man]

Credit card also.

[vee8essie]

Be careful  as a few years ago I had a problem with a car bought on a credit card BARCLAY CARD when I phoned Barclay card I was informed that they don't cover cars or car equipment under the protection scheme so check out the card issuer +the car dealer    

[Chriswright03]

Be careful  as a few years ago I had a problem with a car bought on a credit card BARCLAY CARD when I phoned Barclay card I was informed that they don't cover cars or car equipment under the protection scheme so check out the card issuer +the car dealer    

I did wonder about that.  So yes you would need to check first but also the main thing is pay it off within the time limit to avoid interest.

[fabiamk2SE]

Isnt there sometimes a charge for paying on CC?

[Rocketeers]

Yes, sometimes circa 2%

[fabiamk2SE]

Yes, sometimes circa 2%

£40 for the security of it then?

I usually pay cash. If its a dealer, theres laws outlining whats acceptable and what isnt...

[XLBaconDoubleCheese]

You dont have to pay the whole lot on the card, a small deposit and the rest in cash would still cover you under the section 75. 

 

That said, as Fabs just said, if it's a dealer then you'll be covered legally anyway if you're buying a complete working car. 

[MickA]

I would do CC if no charge for the privilege, but do pay it off before charges. I tried to do it that way on mine (Nectar points) but there was a charge, so ended up doing debit card.

 

As said find out first if using CC is covered with buying motors.

[john999boy]

You dont have to pay the whole lot on the card, a small deposit and the rest in cash would still cover you under the section 75. 

 

That small 'deposit' is at least £100 to be covered under S75 so you can decide if paying the rest on the CC is beneficial by way of any percentage cashback that you may have as a CC benefit. Don't forget that you will also have up to two months to settle the bill so paying the remaining balance of the car off on the same day is the very last thing that you'd want or need to do.

[Girardi]

Also worth baring in mind that at that price lots of dealers will still do a bit of a discount for cash sale of you haggle and as mentioned they still have legal obligations regardless of how you pay. If the dealer is legit then I'd always go cash up to 5k.

[Chriswright03]

Cash isn't good for a lot of companies as they have to pay the bank to pay it in so cards are often better.  Yeah I know about cash jobs but if you are buying from a dealer then it isn't very easy for them to hide these sort of sums................not saying it can't or isn't done.

[mdon]

I'd pay cash, but then I don't have a credit card.....

[Outofthi5world]

Cash isn't good for a lot of companies as they have to pay the bank to pay it in so cards are often better.  Yeah I know about cash jobs but if you are buying from a dealer then it isn't very easy for them to hide these sort of sums................not saying it can't or isn't done.

Well it's easy to hide some of it and that's all you need, just say the car sold for less than it did and bingo.

[Aspman]

I would put it on my credit card because I get money back on it and as you say you have 'some' protection that way as well.

 

What he said

[fabiamk2SE]

I'd pay cash, but then I don't have a credit card.....

I dont either.

Mainly because borrowing money isnt what i do.

But i have been considering one for the benefits they give. Then just pay it off straight away. Doesnt do bad for the credit rating either iirc.

[mender]

I generally do it either via debit card on the day or via instant bank transfer on-line (except transfers does not show in their account or go through until Monday if done at weekends)

 

Cash is risky as they can say it was not received, a transfer costs nothing in fees and gives traceability.

 

Most dealers charge a percentage for taking credit cards, but if they do not and you have one, there's no reason why not to use one , especially if you get card benefits such as cashback.

[fabiamk2SE]

I generally do it either via debit card on the day or via instant bank transfer on-line (except transfers does not show in their account or go through until Monday if done at weekends)

Cash is risky as they can say it was not received, a transfer costs nothing in fees and gives traceability.

Most dealers charge a percentage for taking credit cards, but if they do not and you have one, there's no reason why not to use one , especially if you get card benefits such as cashback.

I wont leave the shop (or if its private) without a signed receipt of the cash ive handed over.

And theyve signed the v5 over to me, along with everything else, 2 sets of keys and let me ride off. So youd hope its right haha

[mender]

I wont leave the shop (or if its private) without a signed receipt of the cash ive handed over.

And theyve signed the v5 over to me, along with everything else, 2 sets of keys and let me ride off. So youd hope its right haha

That's true...I do find quite a few dealers don't want the hassle, security and fees for banking real cash, though.

[Sammycarp]

Card if no extra charge for doing so.   Even if no extra purchase protection, I get cashback 

[Huskoda]

I dont either.

Mainly because borrowing money isnt what i do.

But i have been considering one for the benefits they give. Then just pay it off straight away. Doesnt do bad for the credit rating either iirc.

Its worth getting a cashback card for that benefit plus protection when buying online. I'm against borrowing money so those are the only reasons I have a card (which is always paid off in full quickly).

 

Re: OP, pay deposit by card. Rest however you like. You will have protection as its a dealer anyway.