Do main dealers accept credit cards for buying a car?
Discussion
Mercedes in particular... I'm considering buying but the PCP rate is at 5.9% which means funding a 20k debt for 2 years at a cost of approx £130 of interest a month in real terms.
Considering bunging the whole thing (or at least the balance after my intended cash deposit) on a credit card and transferring balance if I need to at the end of a zero rate period.
I know I could just ask, but dunno whether it's generally a complete no no!
Considering bunging the whole thing (or at least the balance after my intended cash deposit) on a credit card and transferring balance if I need to at the end of a zero rate period.
I know I could just ask, but dunno whether it's generally a complete no no!
It will be about a 25% discount on list tho not sure if mercedes finance see it as a deposit contribution linked to the PCP! or whether they just finance whatever is needed. The 5.9% doesn't seem that amazing so they may possibly make something out of it which offsets some of the discount.
2 years motoring at 10k per year, PCP route with £7k up front would mean a total cost of £9928 (or 3 years = £13381). Alternatively I could lease, all things being equal for £7859.
Is leasing the no brainer it seems to be? I'm drawn to 'ownership' just because it seems more sensible tho clearly the sums suggest otherwise!!
Any idea if mercedes GFVs tend to be optimistic? If I was likely to have a bit of equity over the £20k bubble then I'd probably go PCP... confused!!
2 years motoring at 10k per year, PCP route with £7k up front would mean a total cost of £9928 (or 3 years = £13381). Alternatively I could lease, all things being equal for £7859.
Is leasing the no brainer it seems to be? I'm drawn to 'ownership' just because it seems more sensible tho clearly the sums suggest otherwise!!
Any idea if mercedes GFVs tend to be optimistic? If I was likely to have a bit of equity over the £20k bubble then I'd probably go PCP... confused!!
Yes, its a car I want (rather than need). No I can't afford it insofar as cash in the bank, but I can afford the depreciation/interest. That's a choice which I'm happy with. FWIW my Monaro has definitely appreciated in value since i bought it but it certainly wasn't bought with that in mind - neither will this car!
The intention would be to buy on a new credit card with upto 20 or so months interest free on new purchases, then if I needed longer to pay it off, would just transfer the balance to a new card at a minimal fee. If I could do this I'd save a good £2000+ in interest over two years.
The intention would be to buy on a new credit card with upto 20 or so months interest free on new purchases, then if I needed longer to pay it off, would just transfer the balance to a new card at a minimal fee. If I could do this I'd save a good £2000+ in interest over two years.
v8250 said:
Out of interest [pun intended] have you calculated your total loss over the finance period? If not, do this. Then, imagine I take that money...your hard earned money...and burn it. You'll never recover this burning loss, once it's frittered away it's gone.
Yes..rix said:
2 years motoring at 10k per year, PCP route with £7k up front would mean a total cost of £9928 (or 3 years = £13381). Alternatively I could lease, all things being equal for £7859.
Find me an as new, premium marque convertible (not essential I know but I want to enjoy that 2-3 hours of commuting each day) with known (virtually zero) running costs, good (45+ mpg) economy, which will cost me less than £8k for two years/20k...Gassing Station | General Gassing | Top of Page | What's New | My Stuff