Going to test drive a car today. The whole finance deal has been sorted, (well I thought it was) but rather than pay a deposit from our savings, we got a credit card with 0% finance for 22 months. However, I noticed in the small print last night that you can only pay £500 on a credit card, obviously the thinking from the finance company is people will just have to suck up more of their interest rates to pay for it. At the last minute I will be telling the salesman it is not happening unless we can pay it all on the credit card. And he has 10 minutes to let me know as I have an urgent appointment at 10:30 (The Cooper Rose before the match) How do you think it will go? Any tips?
Could you not pay with your savings then top your savings back up with your card, having never had a credit card and don’t know if this could be done
If you try to use the card for cash, which into your bank account would be classed as it isnt interest free, I only got the bloody thing to prevent dipping into savings, if they dont agree I will go elsewhere, there are plenty of second hand cars for sale
Surely you can pay as much as you want on a credit card (deposit), then only finance the balance? That's how it normally works...or at least I thought it did.
Well it turns out its not the finance company, its Bristol street motors, they just wont accept anything more than £500 on a debit or credit card and will only accept a bank transfer??? Just makes it inconvenient for the customer. I bought the bastard car
I think a lotof finance companies don't allow you to pay for credit, using credit. Bought a sofa and chairs when we moved into our current house. When the "buy now, pay later" period ended I took out a 0% credit card to pay the balance with the intention of paying it off a bit at a time but the finance company refused and rather than take out their 34% APR finance I had to just pay it off from my bank which was a pain in the arse
Should have just payed it off with your card and then transferred it to a 0% credit card. You will get a small charge, that’s all.
There's a few o% interest, no fee cards at the minute - HSBC did one about a month back. I was tempted to get one and then transfer the money onto a decent savings account
There are generally no magic beans when dealing with finance companies, car sales, service providers, etc. The margins are fine and competition fierce so most deals are pretty much the same ... ... it's just that there's dozens of ways of presenting the same thing.
