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Is it possible to use credit card? - leojack

I am planning to apply the car loan. Instead of down payment may i use the credit card?

Is it possible to use credit card? - Engineer Andy

It depends. If you are buying a car and they selling firm wants a deposit, some may accept a credit card as long as you don't go over the limit on the card (don't forget you'll be using it to buy groceries, clothes, expensive train tickets for work, etc etc under your normal spending).

It may also depend upon who is providing you with the loan for the rest, as it might affect whether they loan you the money at all or the rate, as it could infer that you don't have the money to pay for the car and wish to stick as much of the cost on the credit cars which won't demand you start paying for some time (even if the interest quickly builds up because not paying in full acrues a high monthly rate compared to a normal loan).

Otherwise (if you can afford to pay off both), its fine if they allow it, as using a credit card gives some protection should the purchase go sour, e.g. the car is a dud, the firm goes bankrupt before you get the car or they scarper.

Is it possible to use credit card? - Theophilus

In my experience dealers may agree to take a deposit on CC, but are generally reluctant to allow full payment - presumably because the CC companies hit the vendor with a surcharge (something like 2.5%) so eating into profits.

Is it possible to use credit card? - focussed

I get the impression from a car purchase that dealers don't like customers gaining section 75 protection by using a credit card for even a small part of the full invoice.

Is it possible to use credit card? - Gibbo_Wirral

I get the impression from a car purchase that dealers don't like customers gaining section 75 protection by using a credit card for even a small part of the full invoice.

Precisely that.

Is it possible to use credit card? - Engineer Andy

I get the impression from a car purchase that dealers don't like customers gaining section 75 protection by using a credit card for even a small part of the full invoice.

Precisely that.

One of the benefits then of buying from a car supermarket - Motorpoint never had a problem taking my deposit via a credit card, despite them selling many more cars than the average dealership per month.

Is it possible to use credit card? - leojack

Thank you for your suggetion.