Cars24 - How to MAXIMISE on purchase of used car?

[harsh42s]

Hi Everyone,

I am planning to buy a certified car (used car) from Cars24 of about 6.5 lacs. I have to pay this in next 3 days time. I wanted to get your inputs on the best way to maximise on this expense.

They have a razorpay powered payment gateway - paid 10K token using my SBI Cashback Card. The merchant name was 'CARS24 Service Privat' - not sure if I will get the 5% cashback or not. They charge additional convenience fee of 1.5% + GST for using credit cards. For UPI they charge 0.03%, wallets like Phonepe, Mobikwik, Freecharge are available with a convenience fee of 1.7%+ GST (No option for Amazon Pay).

I hold following cards: HDFC Infinia, Tata Neu Rupay Infinity, Axis Ace, SBI Cashback, IDFC Wealth, Amex Gold Charge, ICICI Sappiro, AU Zenith, ICICI Amazon Pay. I hold some generic cards as well - Bob Eterna, One card, Kotak White, etc.

Few suggestions from members in the forum: Infinia, Bharatnxt (not sure if safe).

Tagging some experts: @Abhishek012 @Mohur @adigk @OneMileAtATime @foden @TheMentalist @xfactcc @Abhishek012 @Wealth is my birth right! @Subhankar @Chaitanya-a @robimahanta @luckymurari

On a separate note, do share your experience with Cars24 if you have dealt with them before. Thank you.

 

[ak93]

Hi Everyone,

I am planning to buy a certified car (used car) from Cars24 of about 6.5 lacs. I have to pay this in next 3 days time. I wanted to get your inputs on the best way to maximise on this expense.

They have a razorpay powered payment gateway - paid 10K token using my SBI Cashback Card. The merchant name was 'CARS24 Service Privat' - not sure if I will get the 5% cashback or not. They charge additional convenience fee of 1.5% + GST for using credit cards. For UPI they charge 0.03%, wallets like Phonepe, Mobikwik, Freecharge are available with a convenience fee of 1.7%+ GST (No option for Amazon Pay).

I hold following cards: HDFC Infinia, Tata Neu Rupay Infinity, Axis Ace, SBI Cashback, IDFC Wealth, Amex Gold Charge, ICICI Sappiro, AU Zenith, ICICI Amazon Pay. I hold some generic cards as well - Bob Eterna, One card, Kotak White, etc.

Few suggestions from members in the forum: Infinia, Bharatnxt (not sure if safe).

Tagging some experts: @Abhishek012 @Mohur @adigk @OneMileAtATime @foden @TheMentalist @xfactcc @Abhishek012 @Wealth is my birth right! @Subhankar @Chaitanya-a @robimahanta @luckymurari

On a separate note, do share your experience with Cars24 if you have dealt with them before. Thank you.

I would say directly swipe Infinia with a charge of 1.5% + gst. It's straightforward.

I did use Magnus in BharatNxt when they used to give 0.99% offer to transfer 6L to buy my car but considering the scrutiny on BharatNxt by Axis, I would ask you to stay away from using it for such a big amount. There are other apps like snapay which is running an offer of 1.09% + gst right now but using these for a meagre gain of around 3k (0.5% of 6L) is not worth it IMO.

Try negotiating with the dealer to bring down the fees to maybe 1% + gst. If not, you are still in profit of around 1.5% using Infinia + you can earn more cashback for bill payment. Ex: 0.25% back using cheq or use HDFC platinum dc to pay 75k and get 750 back.

 

[luckymurari]

I suggest going with infinia. It is straight forward here with 3.33% .. SBI cashback with 5% may sound lucrative but it has too many constraints that it is risky.

 

[Wealth is my birth right!]

Hi Everyone,

I am planning to buy a certified car (used car) from Cars24 of about 6.5 lacs. I have to pay this in next 3 days time. I wanted to get your inputs on the best way to maximise on this expense.

They have a razorpay powered payment gateway - paid 10K token using my SBI Cashback Card. The merchant name was 'CARS24 Service Privat' - not sure if I will get the 5% cashback or not. They charge additional convenience fee of 1.5% + GST for using credit cards. For UPI they charge 0.03%, wallets like Phonepe, Mobikwik, Freecharge are available with a convenience fee of 1.7%+ GST (No option for Amazon Pay).

I hold following cards: HDFC Infinia, Tata Neu Rupay Infinity, Axis Ace, SBI Cashback, IDFC Wealth, Amex Gold Charge, ICICI Sappiro, AU Zenith, ICICI Amazon Pay. I hold some generic cards as well - Bob Eterna, One card, Kotak White, etc.

Few suggestions from members in the forum: Infinia, Bharatnxt (not sure if safe).

Tagging some experts: @Abhishek012 @Mohur @adigk @OneMileAtATime @foden @TheMentalist @xfactcc @Abhishek012 @Wealth is my birth right! @Subhankar @Chaitanya-a @robimahanta @luckymurari

On a separate note, do share your experience with Cars24 if you have dealt with them before. Thank you.

Part1
Use infinia directly if not then Other betters are apay and idfc wealth (after30k high reward in wealth)
Part2
Last year I got quote to sell my old car from 24 but didn’t sold through them due to commission is more and I got good resale value from new showroom itself which they adjusted the amount with new car so no account credit tax issues

 

[OneMileAtATime]

Hi Everyone,

I am planning to buy a certified car (used car) from Cars24 of about 6.5 lacs. I have to pay this in next 3 days time. I wanted to get your inputs on the best way to maximise on this expense.

They have a razorpay powered payment gateway - paid 10K token using my SBI Cashback Card. The merchant name was 'CARS24 Service Privat' - not sure if I will get the 5% cashback or not. They charge additional convenience fee of 1.5% + GST for using credit cards. For UPI they charge 0.03%, wallets like Phonepe, Mobikwik, Freecharge are available with a convenience fee of 1.7%+ GST (No option for Amazon Pay).

I hold following cards: HDFC Infinia, Tata Neu Rupay Infinity, Axis Ace, SBI Cashback, IDFC Wealth, Amex Gold Charge, ICICI Sappiro, AU Zenith, ICICI Amazon Pay. I hold some generic cards as well - Bob Eterna, One card, Kotak White, etc.

Few suggestions from members in the forum: Infinia, Bharatnxt (not sure if safe).

Tagging some experts: @Abhishek012 @Mohur @adigk @OneMileAtATime @foden @TheMentalist @xfactcc @Abhishek012 @Wealth is my birth right! @Subhankar @Chaitanya-a @robimahanta @luckymurari

On a separate note, do share your experience with Cars24 if you have dealt with them before. Thank you.

I used infinia, and i was able to negotiate to waive off extra charges, they obliged as it was closing of quarter not sure it will work here.

My suggestion would be if you have already done some 10k token using your sbi card, check with sbi once whether you'll receive cash back for the same, even for unsettled they should be able to tell. (Ex Axis tells, I don't have SBI)

base on SBI answer, you can choose either SBI Or Infinia

 

[harsh42s]

Thanks everyone for your suggestions:

My plan is to use Infinia. I will try and use SBI CB to the extent of 1 lacs if I get 5%CB on my token amount. Will keep everyone posted.

 

[miles_guy]

Any update on this?

Also do Delhi based car dealerships allow using cards for buying used cars?