Paying for a car via non-bank transfer

kaktus

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Just curious if anyone has figured out a way to buy a car with a credit card or something else which gives them points/ cashback etc when the dealership is insisting on a bank transfer?

I've ordered a car which is due to arrive in a week or two and the dealer would only let me pay by card for the initial 1,000. They want the remaining amount by bank transfer. Is there any way to somehow route the payment via a card or something which would earn me points and then "pay" the dealer's bank account?
 

Havana_UK

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Withdraw a ton of cash on one card, then do a balance transfer to a second for (maybe) points? Then transfer that money into your bank account to pay the dealer.

They won't take full payments via credit card because the fees are too onerous.
 

kaktus

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Havana_UK said:
Withdraw a ton of cash on one card, then do a balance transfer to a second for (maybe) points? Then transfer that money into your bank account to pay the dealer.

They won't take full payments via credit card because the fees are too onerous.
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I don't think that would work. In my instance for example, I can withdraw a maximum of 50% of my credit limit as cash but I incur a 3% "cash advance fee" which even if it the withdrawal and transfer worked, the fee itself would negate any value in earning the points/cashback. I've also never heard of a balance transfer to another card which earns points on the transferred card. Has anyone actually accomplished that?
 

Siliconslave

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Card companies make money via the 'interchange' fees - everyone along the chain from your card, via visa/mastercard to your bank take a couple of % - usually a shop will be paying between 2% 3% to take that transaction.

If your happy to cover that % i'm sure the dealer will be happy to take your card (ignoring the fact they can't do that anymore).. but trust me its going to cost you more than the points you get back.
 

kaktus

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Siliconslave said:
Card companies make money via the 'interchange' fees - everyone along the chain from your card, via visa/mastercard to your bank take a couple of % - usually a shop will be paying between 2% 3% to take that transaction.

If your happy to cover that % i'm sure the dealer will be happy to take your card (ignoring the fact they can't do that anymore).. but trust me its going to cost you more than the points you get back.
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Yep I hear you. I was just wondering if anyone's figured out a work-around of sorts by like using I don't know Paypal or something to create a "transaction" of sorts whereby the credit card is used to "purchase" a balance of x amount thereby triggering a transaction and using paypal to transfer the funds to the dealer. Something along those lines. I have never done it so just thinking outside the box. I'm trying to think of any way to pass the transfer of those funds through the credit card
 

bJN

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If you want to pay by credit card, then the easiest option is using a money transfer card. You won't earn any "points" for such a thing though, you need a tangible purchase for that.
 

Basher

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If there was a way of getting 'free' points for just transferring cash to a bank account, wouldn't people just do this every day into their own account?
 
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