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have I any benefits of paying for a car by credit car instead of cash?

5 replies

ssd · 07/07/2009 23:20

I have enough money to pay cash to avoid interest, but is there any benefit of paying by credit card then paying off the balance?

does a credit card protect you for anything else?

OP posts:
ssd · 07/07/2009 23:25

bump

OP posts:
Mousey84 · 07/07/2009 23:45

If you are thinking of getting a new credit card, then opt for a reward card. I dont know about legal things re a car bought on a credit card (other than section 75 refunds), but you could get either a % back in cashback, or points if you chose the right card.

If it also has a 0% offer, just pay back the minimum balance each month and stick rest in high interest savings account to make a few extra ££££ of it.

Alibabaandthe40nappies · 07/07/2009 23:48

If you are buying it from a garage then check they will let you use a CC. We just bought a new car (new to us rather than brand new) and the dealership would only take a deposit on CC and the balance had to be paid in cash.

annh · 08/07/2009 13:13

The garage may also want to charge you 1% or maybe more if you pay by credit card.

muddleduck · 08/07/2009 14:37

Agree about the reward cards, although most have a monthly limit. Have a look on the Money Saving Expert website.
Even a tesco card will give you lots of points on suhc a big purchase.

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