i'm getting closer to buying a transit from a dealer and my question is which is better to pay with?
card or cash?
with card i have protection but will it be any use?
with cash i can 'flash the cash' to drive the price down.
the dealer will give me a TWO YEAR warranty either way i pay.
the amount i'm paying is just less than £4,500.
many thanks, alf
moved from IHAQ as it's a motoring related question
Edited by Pugugly on 07/09/2009 at 21:17
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Credit card.
You can still get the price down - no dealer is going to turn down a deal, especially in current times.
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Credit card. You can still get the price down - no dealer is going to turn down a deal especially in current times.
Current times? You mean the biggest shortage of used cars and the largest price rises in used cars in living memory?
No dealer is going to be desperate for a sale unless the car is a dog because they know it'll be a nightmare to replace the stock.
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card or cash? with card i have protection but will it be any use? >>
www.moneysavingexpert.com/shopping/section75-prote...s
note in particular the Q&A one third of the way down the page:
What if I only pay the deposit on the credit card?
A. The law?s very specific, you get the protection for the whole thing even if you only pay for a part of it on the card, provided what you pay for costs more than £100 (and less than £30,000).
Simples as simples can be.
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jbif
I'd overlooked that very point...:-)
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Very few dealers will accept a credit card for the balance because of the fees they have to pay.
Debit card is best for both parties - no risky cash to count and deal with.
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There was a lengthy debate on this a few weeks ago - do a "Forum Search" and you'll find the consensus.
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>>Debit card is best for both parties - no risky cash to count and deal with. >>
Only if, like my Halifax debit card, it's a Visa example (Halifax swapped from Switch to Visa a few years ago claiming the safeguards matched those of a credit equivalent).
The transaction fee retail outlets pay for credit/debit card transactions vary from business to business - the greater the throughput, normally the lower the charge.
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Most retailers these days would rather not have cash, because it takes time and money to gather it up it and bank it. This is why stores get rid of cash by giving "cash-back" when you pay by debit card.
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Most dealers I know are perfectly happy to accept a credit card, PROVIDED that you pay the (is it 2%?) retailers fee. They are no different than travel agents in this respect.
Most will accept debit cards, although as you can see in an earlier thread, there is some debate about which will accept the card on delivery & which want it a few days in advance.
Most would prefer not to have bundles of used £50s; although I know of a few who are happy with part payment in used £20s, as long as you're OK with an invoice covered in Tippex!.
The simplest way is a £200 deposit on your credit card & the balance by debit card. This way the credit card company have some liability for the quality of the goods.
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When I bought my car the dealer told me that for anything over £1,000 on a credit card they would make an additional charge, so I paid £1,000 deposit on my credit card, and the balance by debit card when I collected the car. The dealer seemed quite surprised when my debit card transaction went through without a call back from the card company.
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