Got a 0% Credit Card for 13 months, need to buy a car....

DJMK4 · 11 Jan 2011 at 18:52

I have two questions

1) Im guessing most garages are fine with paying by credit card, do some garages charge?
2) What if I run in to a car that's being sold privately?

[TW]Fox · 11 Jan 2011 at 18:53

1) Yes, but you will be charged about 3% as a card fee
2) Your insurance company will pay for the damage to the car thats for sale. And you cant buy it with a credit card.

DM · 11 Jan 2011 at 18:53

DJMK4 said:
I have two questions

1) Im guessing most garages are fine with paying by credit card, do some garages charge?
2) What if I run in to a car that's being sold privately?

Get a cash advance.

[TW]Fox · 11 Jan 2011 at 18:54

DiamondMark said:
Get a cash advance.

The absolute worst possible advice you could have given him Mark! It WONT be 0% on cash advance, infact he will be charged interest from Day 1, probably at between 20 and 30%!

I cannot emphasis strongly enough how bad doing that would be.

DJMK4 · 11 Jan 2011 at 18:55

Cash advance? no thank you!

Will Gill · 11 Jan 2011 at 18:55

you could do a paypal payment if you absolutely had to do it privately

fees would hurt a bit though

DM · 11 Jan 2011 at 18:56

I didnt even know that about cash advances, my bad

Reppyboyo · 11 Jan 2011 at 20:20

You can haggle the 2-3% card fee off quite easily.

[TW]Fox · 11 Jan 2011 at 20:21

Reppyboyo said:
You can haggle the 2-3% card fee off quite easily.

Well no, because if you are any good at haggling you've already haggled that 2-3% off the price of the car.

You wont buy a car on a card for the same price as paying cash - if you think you do then there was another 3% off to be had paying cash

no_1_dave · 11 Jan 2011 at 22:02

Go for it.

Skilid · 11 Jan 2011 at 22:07

Garage that I went to wanted a direct bank transfer, or debit card. If paid by credit card there was a fee, can't remember how much though.

Burned_Alive · 11 Jan 2011 at 22:23

BMW wanted 2.5% to pay by credit card, which was a shame because I could've earned some amazing loyalty points! Bank transfer or debit card were the two other options, went for debit card.

GeX · 11 Jan 2011 at 22:35

Do you have 0% on balance transfers on that card? Get another card, take out a load of cash to buy the car and then transfer the balance.

Scania · 11 Jan 2011 at 22:49

[TW]Fox;18202743 said:
2) Your insurance company will pay for the damage to the car thats for sale.

I think, you miss understood what he ment there.....

buckeejit · 11 Jan 2011 at 22:50

[TW]Fox;18202743 said:
2) Your insurance company will pay for the damage to the car thats for sale. And you cant buy it with a credit card.

hahaha

[TW]Fox · 11 Jan 2011 at 22:55

R420LA6X2/4MNA said:
I think, you miss understood what he ment there.....

Facepalm. Seriously, just facepalm.

oneilldo · 11 Jan 2011 at 23:58

GeX said:
Do you have 0% on balance transfers on that card? Get another card, take out a load of cash to buy the car and then transfer the balance.

Problem is that most/all credit cards charge a balance transfer fee of you guessed it 2-3%.

MikeHiow · 12 Jan 2011 at 00:25

My credit card does not charge me any extra interest on a cash advance, merely a 2.5% fee on the amount I take, so why would he start paying interest when doing a cash advance?

DRZ · 12 Jan 2011 at 00:38

MikeHiow said:
My credit card does not charge me any extra interest on a cash advance, merely a 2.5% fee on the amount I take, so why would he start paying interest when doing a cash advance?

I bet it does (or is capped so you can only take out a small amount of cash, or both)

speedyj · 12 Jan 2011 at 00:45

[TW]Fox;18205524 said:
Facepalm. Seriously, just facepalm.

Made me laugh