Seeking Advice: Best Credit Card for Buying a Car in September

[pranavjindal999]

### Subject: Best Credit Card for Buying a Car in September - Need Advice!

Hi everyone,

I need some expert advice on choosing the right credit card for a big upcoming purchase. I’m planning to buy a new car in September, with a price tag of around 25 lakhs. If the dealer allows, I’d like to pay the full amount with a credit card. If not, I’m expecting to use a card for at least 15 lakhs, with a 1-2% surcharge.

I’ve mostly used lifetime-free or low-fee cards until now, but I’m open to getting a high-fee card if it offers great rewards. My main goal is to maximize the benefits of this large transaction (hotel or flight points are also okay)

Which credit card should I apply for to get the best returns on this purchase? Need a complete action plan to maximize the returns.

Thanks in advance!

 

[helloworld]

Atlas, Ultimate, Marquee, Infinia, DCB, AMEX Travel, Emeralde Private, Magnus for Burgundy, AMEX Platinum, AMEX Reserve, IDFC Wealth.

 

[pandeyji]

Which car? if you don't mind sharing

 

[shash5252]

Foll ow ing

 

[navdeep22]

AU bank LIT is also LTF but very good for offline and online

 

[navdeep22]

Atlas, Ultimate, Marquee, Infinia, DCB, Emeralde Private, Magnus for Burgundy, AMEX Travel, AMEX Platinum, AMEX Reserve, IDFC Wealth.

Idfc wealth is now 1.66 %

 

[helloworld]

Idfc wealth is now 1.66 %

helpful for 1% surcharge and order of priority as last. might get same limit based on c2c (so limit won't be issue majorly).

AU bank LIT is also LTF but very good for offline and online

this covers max. 30k. here atleast 15lakhs and even split payment around 3-5lakhs.

 

[navdeep22]

helpful for 1% surcharge and order of priority as last. might get same limit based on c2c (so limit won't be issue majorly).



this covers max. 30k. here atleast 15lakhs and even split payment around 3-5lakhs.

Can pay 2.5 lakhs with AU bank lit as 25k max points per statement

 

[navdeep22]

Btw I asked in delhi they were charging 2.5% for getting car in credit car, any amount

 

[a_tease]

Since most cards have a ceiling on number of points that can be earned per month, if the car has 7-8 months of waiting period, pay 2 lakh per month via credit card.

 

[Lobogris]

I don't think this is a good idea. First of all, most dealers would not accept such a large amount via CC and if they did, they would charge at least 2% extra. Now if we get a premium card like Infina (I have one), you would get 3.3% cashback. On 15 lakhs, that is just 49k. The dealer would charge around 30 to 37k, leaving you with just 10 to 15k in cashback. For this, you have to pay annual fees of nearly15k, go through the application process and then worry about redeeming the cashback. So totally not worth it in my opinion. OP can use any existing card for 1 or 2 lakhs for free if allowed by the dealership. The 10k in possible cashback can be obtained by focusing on price negotiation, better rate for insurance etc rather than worrying about credit cards.

 

[Lobogris]

Btw I asked in delhi they were charging 2.5% for getting car in credit car, any amount

I was able to pay 2 lakhs in Gurgaon without any fee. Initially, they had accepted 20 lakhs on CC at no charge but the dealership manager ultimately refused to approve it and I didn't push it.

 

[pranavjindal999]

Which car? if you don't mind sharing

Upcoming Curvv.EV (expected price for top model is 24-25L)

 

[pranavjindal999]

Atlas, Ultimate, Marquee, Infinia, DCB, AMEX Travel, Emeralde Private, Magnus for Burgundy, AMEX Platinum, AMEX Reserve, IDFC Wealth.

Too many options. If possible, can you tell which one would prove to be the best?
Need calculations.
Already have idfc wealth.. How to use that?

 

[pranavjindal999]

Btw I asked in delhi they were charging 2.5% for getting car in credit car, any amount

People I know have negotiated upto 1%.

 

[pranavjindal999]

Since most cards have a ceiling on number of points that can be earned per month, if the car has 7-8 months of waiting period, pay 2 lakh per month via credit card.

Nice. But I'd like to pay only after PDI

 

[pranavjindal999]

I don't think this is a good idea. First of all, most dealers would not accept such a large amount via CC and if they did, they would charge at least 2% extra. Now if we get a premium card like Infina (I have one), you would get 3.3% cashback. On 15 lakhs, that is just 49k. The dealer would charge around 30 to 37k, leaving you with just 10 to 15k in cashback. For this, you have to pay annual fees of nearly15k, go through the application process and then worry about redeeming the cashback. So totally not worth it in my opinion. OP can use any existing card for 1 or 2 lakhs for free if allowed by the dealership. The 10k in possible cashback can be obtained by focusing on price negotiation, better rate for insurance etc rather than worrying about credit cards.

Agreed. But this is probably the worst case scenario. I think I can negotiate with 1% surcharge. And top tier cards provide 5-10% reward rate on hotels/flights. I've seen people do that.
I just want to know what is latest in the market in those terms.

 

[pranavjindal999]

I was able to pay 2 lakhs in Gurgaon without any fee. Initially, they had accepted 20 lakhs on CC at no charge but the dealership manager ultimately refused to approve it and I didn't push it.

Lol. Who accepted to accept whole 20L without any charges?

 

[helloworld]

Too many options. If possible, can you tell which one would prove to be the best?
Need calculations.
Already have idfc wealth.. How to use that?

that depends on your eligibility, miles or hotels point preferred partners, limit etc.

same order of preference, if not eligible look for next card in the same order.

Wealth: last option, swipe and get 10x for above 20k spends (max. 1.6%)

 

[pranavjindal999]

that depends on your eligibility, miles or hotels point preferred partners, limit etc.

same order of preference, if not eligible look for next card in the same order.

Wealth: last option, swipe and get 10x for above 20k spends (max. 1.6%)

I guess I'd be eligible for most cards. Good cibil, icici provides 19L limit right now, 50L ITR, can move funds to required bank.
No preference for miles/hotel points. Just want anything that would help in an international trip.
Can you help with the atlas calculation if that is the best right now?