Sarthak2005
TF Buzz
Can i Buy a Car by Paying using Credit card?
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Can i Buy a Car by Paying using Credit card?
- Thread starter Sarthak2005
- Start date
- Replies 42
- Views 11K
Technically you could, if your CC limit covers cost of the car. But practically speaking, most of the car dealerships won't accept full payment from CC because of MDR charges and other related charges , which they have to pay from thier own pockets. If they are willing to accept CC payment , they may pass the MDR charges to you.
bugmenot
TF Legend
A really good guide from none other than Sid
www.cardexpert.in
Buying a Car on a Credit Card – Everything You need to know – CardExpert
www.cardexpert.in
bugmenot
TF Legend
Which car bought using which card? What MDR was finalized?
I bought i20 car using my Citi IOCL card ( which was one I had at tht time).. initially they said they ll accept... But after discussing with their finance dept they refused... Since I stressed, they accepted to do only for 50k bill for the whole amount... So I had to do around 15 r 16 transactions 😂😂...
skoda slavia. MDR agreed at 0.5% after dealer agreeing to absorb a portion of it.
bugmenot
TF Legend
Using which cards?
location? What did you say ? how much car costs you?
John Smith
TF Neo
Technically, yes, you could buy a car using a credit card, but it's not quite that simple. Most dealerships won't accept full payment on a credit card due to high processing fees. However, some might allow you to use a card for a down payment or a smaller portion of the purchase.
Remember, using a credit card for such a large amount comes with risks like high-interest rates and potential fees. It's generally recommended to explore car loans or other financing options before considering a credit card.
During my research on buying a car by using a credit card, I got here and got to know all about it: https://www.aquilaresources.com/best-credit-cards-for-buying-a-car/.....
Yes, purchased hyundai venue sx knight this sept and at 0% MDR passed on to me.
Hemang
TF Legend
After getting inspired from technofino community, i suggested my friend to go for buying seltos htk automatic petrol model from ghaziabad. I am writing below our whole experience of the same.
1. Always first negotiate the buying price with dealer. (Never reveal that you intend to pay through CC, otherwise he/she won't cooperate with us or negotiate with us for price).
2. Always say that insurance you would purchase from outside which is around 50% cheaper than what dealer's offer.
3. After finalising the buying price, take the invoice from them and if the car is final from your side then, pay the booking amount (in our case Rs 25,000 we paid through CC).
4. After booking the car, we sent the mail to kia company officials, we also tweeted for the same, when the dealer refused us to take the payment in CC. So we complained to the higher officials.
5. They usually respond within 2-4 working days.
6. After all this hardwork, finally call came through the lead person of kia showroom, he agreed for the payment from CC.
7. Then we made a table as how to make the payment using different CC. In our case we used flipkart axis, hdfc infinity, AU zenith, ICICI Amazon according to cc limit allotted to us.
So if we follow this above mentioned steps, we will be definitely be able to save a lot of money. All the best to all Technofino community.
1. Always first negotiate the buying price with dealer. (Never reveal that you intend to pay through CC, otherwise he/she won't cooperate with us or negotiate with us for price).
2. Always say that insurance you would purchase from outside which is around 50% cheaper than what dealer's offer.
3. After finalising the buying price, take the invoice from them and if the car is final from your side then, pay the booking amount (in our case Rs 25,000 we paid through CC).
4. After booking the car, we sent the mail to kia company officials, we also tweeted for the same, when the dealer refused us to take the payment in CC. So we complained to the higher officials.
5. They usually respond within 2-4 working days.
6. After all this hardwork, finally call came through the lead person of kia showroom, he agreed for the payment from CC.
7. Then we made a table as how to make the payment using different CC. In our case we used flipkart axis, hdfc infinity, AU zenith, ICICI Amazon according to cc limit allotted to us.
So if we follow this above mentioned steps, we will be definitely be able to save a lot of money. All the best to all Technofino community.
Pritish Sahoo
TF Neo
Hi. Good to know that you managed to book the car using your CC. Kudos. I am planning to buy a KIA Sonnet in Mumbai this month and would really appreciate if you tell me which dealer did you buy it from. Would really be grateful for your help. Thanks!
Hemang
TF Legend
Bhai humne to delhi se li hai. Apko mumbai ke dealer dekhke leni padegi.
Hume bta do hum toh Delhi se hai😂
Pritish Sahoo
TF Neo
Delhi mein konsi dealer hai sir ?
Pritish Sahoo
TF Neo
Bhai kaunsi email id pe apne mail kiya tha. As expected the KIA dealer in Mumbai is not agreeing for CC payment. Please bata do bhai. Thanks
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