I have an ISA from last year with about £5.5k in. I am thinking about buying a car for about £8k, so if I use this ISA to buy the car and insurance, I would probably have about £3,200 that I need to find.
I can pay that extra but it would take my available cash down pretty low (cash I can use, so for example not selling investments). So I was thinking about getting a 0% credit card to put it on for a while and repay it before the 0% ends (thus I will have more income from employment).
However, am I correct in saying I can only do this if I buy from a dealer? I guess I can't take cash from a credit card to pay a private seller, or do a bank transfer to their account.
Final thing- are dealers able to do £x from one card and £x from another?
Buying a second hand car on credit card? Watch
- Thread Starter
- 23-07-2014 21:33
- 24-07-2014 12:21
You can only pay by card at a dealer for a fee, you can't withdraw the cash without incurring a fee and daily interest thus nullifying the 0% purchase card benefits. Dealers are like all other merchants able to do it with two cards but whether they want to or not is another matter.
I paid my deposit on my Discovery with a CC, I recommend it for S75 tooLast edited by tehFrance; 24-07-2014 at 12:22.
- TSR Group Staff
- 24-07-2014 12:29
Just use the CC for all your other expenditures from now on until you reach the amount you want to borrow.