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Buying a new car using CC - Pls suggest which one to use?

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Solitaire

Solitaire

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Hi Fam,

I am planning to buy a new car (new Magnite) using credit card for reward poins. I need your suggestion on how to split the cost of 12.5 Lakhs. Below are the cards I currently hold:

a) HDFC Diners Club International - Black (PVC)
b) Amex Gold Charge Card
c) HSBC Cashback
d) Icici Amazon Pay
e) IDFC First Select
f) SBI Simply Save card

Please suggest, I can also wait to complete this purchase or buy new Amex/HDFC CC to plan in next 2-3 months. As there are no discounts or offers for the new Magnite. So, there is no point in hurrying to buy this car, rather I can wait based on your suggestions.

TIA for your guidance.
 
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anujdit said:
First check the MCC code by paying small amount or ask showroom finance team about it. For some MCC code, you will not get reward points.
Based on MCC, you will be able to know which will get best rewards
Click to expand...
+ Check for the charges also to use credit card (negotiate till least)
 
Enthusiast said:
+ Check for the charges also to use credit card (negotiate till least)
Click to expand...
currently they are asking for 2%, I can negotiate to 1% or 1.25%. However, I'm not sure if it makes sense to make the purchase thru credit card. Confusion at the moment. 🤔
 
If a dealer agrees to waive of MDR charges, then he can also give equivalent cash discount in some other form.

First negotiate the card price to lowest minimum (or negotiate on extended warranty / free accessories etc.) at your level and then start negotiation for credit card charges
 
Solitaire said:
Hi Fam,

I am planning to buy a new car (new Magnite) using credit card for reward poins. I need your suggestion on how to split the cost of 12.5 Lakhs. Below are the cards I currently hold:

a) HDFC Diners Club International - Black (PVC)
b) Amex Gold Charge Card
c) HSBC Cashback
d) Icici Amazon Pay
e) IDFC First Select
f) SBI Simply Save card

Please suggest, I can also wait to complete this purchase or buy new Amex/HDFC CC to plan in next 2-3 months. As there are no discounts or offers for the new Magnite. So, there is no point in hurrying to buy this car, rather I can wait based on your suggestions.

TIA for your guidance.
Click to expand...
Get the Axis Atlas if you have time.

I just finished the Purchase of my new car last month. 85% was swiped on Axis Atlas. Dealers will charge a bomb for Amex no matter how much you try to negotiate on the MDR. And if its a hot selling car, then they wont bother to even negotiate.
 
Solitaire said:
Hi Fam,

I am planning to buy a new car (new Magnite) using credit card for reward poins. I need your suggestion on how to split the cost of 12.5 Lakhs. Below are the cards I currently hold:

a) HDFC Diners Club International - Black (PVC)
b) Amex Gold Charge Card
c) HSBC Cashback
d) Icici Amazon Pay
e) IDFC First Select
f) SBI Simply Save card

Please suggest, I can also wait to complete this purchase or buy new Amex/HDFC CC to plan in next 2-3 months. As there are no discounts or offers for the new Magnite. So, there is no point in hurrying to buy this car, rather I can wait based on your suggestions.

TIA for your guidance.
Click to expand...
If you have some waiting or 1 months time then here's what I would suggest

1) Complete the HDFC DCB Monthly Milestone of 80k (Two Months if possible) (2*1000 Vouchers which I value at 850 + 3.33%) = 7030
2) Get Amex Platinum Travel and do 4lk Swipe even if you need to pay 2% MDR for Amex (You can negotiate) (48000 MR - 2% + 10k Taj Voucher value of approx. 7k real cash) = 23000
3) Do 5 Lk txn before 19 December to get 10k Voucher on HSBC Cashback + 1.5% along with fee waiver for next year is a bonus = 12500

So we are at 1.6+4+5 = 10.6

4) Rest of 1.9 Lakhs you can complete on HDFC DCB in one more month if possible or just simply as it will bring to closer to reach yearly milestone benefits. = 6330

So on total purchase of 12.5 Lakhs you are earning effective value back of 48860

Which is almost 3.9%.

Definitely you can derive more value with MR Points while I have valued them at 0.5 per point & also negotiating MDR would be helpful.
And I didn't add MDR charges for Diners Club & Visa card which you can add as per your actual calculation.

Why this is better than Axis Atlas?
Because all these reward points & cashback are sustainable and have less risk of devaluation.
 
Last edited:
Lobogris said:
Completely useless exercise. Use the same negotiation ability to get a direct discount of extra 25k.
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You need to always tell the dealer about paying via CC after all the negotiations done and no room left for further negotiations. That's why most of the dealers ask for MDR. So even if you are getting extra 1% out of those transactions its a win-win. Also paying those CC Bills would be rewarding.
 
harshgupta940 said:
If you have some waiting or 1 months time then here's what I would suggest

1) Complete the HDFC DCB Monthly Milestone of 80k (Two Months if possible) (2*1000 Vouchers which I value at 850 + 3.33%) = 7030
2) Get Amex Platinum Travel and do 4lk Swipe even if you need to pay 2% MDR for Amex (You can negotiate) (48000 MR - 2% + 10k Taj Voucher value of approx. 7k real cash) = 23000
3) Do 5 Lk txn before 19 December to get 10k Voucher on HSBC Cashback + 1.5% along with fee waiver for next year is a bonus = 12500

So we are at 1.6+4+5 = 10.6

4) Rest of 1.9 Lakhs you can complete on HDFC DCB in one more month if possible or just simply as it will bring to closer to reach yearly milestone benefits. = 6330

So on total purchase of 12.5 Lakhs you are earning effective value back of 48860

Which is almost 3.9%.

Definitely you can derive more value with MR Points while I have valued them at 0.5 per point & also negotiating MDR would be helpful.
And I didn't add MDR charges for Diners Club & Visa card which you can add as per your actual calculation.

Why this is better than Axis Atlas?
Because all these reward points & cashback are sustainable and have less risk of devaluation.
Click to expand...
I dont have Amex Platinum Travel. I have Amex gold. What MR I can get by using only Amex Gold + HDFC DCB ?? Can somebody help with MR calculations.
 
_ayush said:
Not sure why no one has suggested but if you are interested in Infinia, this can be a good oppurtunity. You can put a big chunk on DCB.
Otherwise M4B would be the best option if that is possible. Second best imo would be Atlas.
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I am trying to get Infinia for a long time, spoke to even the RM & BM, but its invite only.
 
Solitaire said:
I dont have Amex Platinum Travel. I have Amex gold. What MR I can get by using only Amex Gold + HDFC DCB ?? Can somebody help with MR calculations.
Click to expand...
You can apply for amex plat travel that's why I suggested.

Or you can pay all the remaining using DCB & also get upgrade offer to infinia
 
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