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craigten

Paid car deposit by C.card, so covered?

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Hi all.
I’m buying a car today and will be paying by bank transfer for £5,000. I’ve paid the deposit of £400 by credit card, am I right in thinking that I’ll be covered by the credit card should something go badly wrong?

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Why aren't you paying it all by credit card?

 

Who is the dealer?

 

What is the car? - age, mileage etc.  Have you checked the FSH?


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Thank you for that.

The dealer accepted deposit by credit card but wants the remaining balance by bank transfer. 
Reputable dealer and I’ve been incredible intense and thorough on the research side - full HPI check, photos of full service history and MOT history to mechanic friend and appropriate make forum but I was just making 100% sure on the legality front re section 75.

However, just seen this on the MSE site;

 

A trick to help – pay the deposit by credit card and you're covered

The law's specific on this, you get the protection for the whole cost of an item or service, even if you only pay for a part of it – even just 1p would count – on credit. The only condition is that what you're buying costs more than £100 and less than £30,000.

Therefore if you want protection…

As long as it costs more than £100, pay for even a fraction on a credit card and you're protected.

Here's a Section 75 deposit-only success story to give you some inspiration...

I ordered and paid £15,991 in full for a new car but before I took delivery, the trader went into liquidation.

Thankfully I had paid the first £100 deposit on my Barclaycard credit card. So I made a Section 75 claim. It took six months, but this week I received a credit to my card of the whole amount, just from having paid the first £100 on my card.

So I’m now more confident! Phew!

 

 

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2 hours ago, BankFodder said:

Why aren't you paying it all by credit card?

 

1 hour ago, craigten said:

The dealer accepted deposit by credit card but wants the remaining balance by bank transfer. 

 

Did the dealer say why? Probably because the dealer has to pay a % of the amount to the credit card company. It wouldn't be a significant cost on the deposit but quite a chunk out of the dealer's profit margin if the dealer accepted the full £5k balance on CC

Edited by Ethel Street

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Simply to add – give it a good testing out in the first 30 days and don't hang around in asserting your rights in writing for a refund if defects occur which render the car not of satisfactory quality. You've been here for a long time so you know all of this. I expect that you have also read our customer services guide


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3 hours ago, Ethel Street said:

 

 

Did the dealer say why? Probably because the dealer has to pay a % of the amount to the credit card company. It wouldn't be a significant cost on the deposit but quite a chunk out of the dealer's profit margin if the dealer accepted the full £5k balance on CC

That’s exactly the reason. I’m impressed.

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