Car & Bike Planning to purchase new car.. 8lkhs,, ,credit card payment OK?

Status
Not open for further replies.
terminater

terminater

Contributor
planning to buy a car.. 8lakh... which credit card to use.. HDFC , AMEX, ICICI, STANDARD CHARTERED etc??
consider that i will have to pay extra 2% on 8 lakh.. ie Rs 16000
 
  • Haha
Reactions: ssslayer
I mean... can i have some benefit with using credit card ?? is so.. which credit card..? can cc give me more benefit than 2% ?
 
I am assuming this is a genuine question.. :)

Are you planning to pay the 8 lakh credit card bill in a month? Credit card interest is calculated per month. (in your case 2% per month x 12 = 24% per year)
Additionally, there are late payment charges + GST on interest

Better go for a loan if you are planning to manage the payment over a "Long Term". Credit card is only useful if you dont default on payments.
 
  • Like
Reactions: red dragon
What`s the credit limit of your card? If you can pay up the money upfront (instead of EMIs) some dealers used to give good discount 5-6 years back. I do not know about India, but here in Europe you will get some points/ something like that which can be used during hotel/ flight bookings etc. (mostly of no use)
Why not just pay upfront?
I`m slightly baffled by the question. Never heard of anyone buying a car with CC.
If you can pay a credit card bill of 8 lakh in a single month, why not transfer the money directly upfront? EMI on CC will cost you a lot more.
 
  • Like
Reactions: bfz
My plan..
Pay entire amount..with CC...have limit... But I need to recover the 2% extra...I will pay the car amount ie CC bill in 30-45 days..
 
I guess there's no use trying to put sense into someone. How about you go ahead with it and let us all know how it goes and what advantage you get.
 
What I was referring to is that pay the full amount (not CC) and get additional discount. If one does not agree speak to multiple dealers and see what additional benefits you get.
 
Please..understand the problem...if u don't have the solution..refrain from answering..and commenting in a lousy manner....cc..rewards..points are there..these reward..points are in the range .5to 5% of transcarion value..my simple question was which cc will offer best reward value. Plus..with Cc iwill also get 45 days..interst of bank.. ..I hope people who had understanding problem
.will understand and refrain from answering absurd things..
Post automatically merged:

Dr.Lakshay said:
I guess there's no use trying to put sense into someone. How about you go ahead with it and let us all know how it goes and what advantage you get.
Click to expand...
Please read my above reply for people like you..
 
Let me break it up into simpler language for you. Many credit cards have a cap on the number of reward points you can get for a single transaction.
Even if you get "5%" reward points, 1 reward point is not equal to 1 rupee. It will be more like one fourth.
It would have made sense if your cc company was running a special scheme in collaboration with the car company.
Anyways as I said, go ahead give it a try and let us know! This is my last attempt to make you understand.
 
  • Like
Reactions: vivek.krishnan
terminater said:
Got discount ..20k...but..cc doubt??
Click to expand...
Dude better walk in the showroom like some badboys or james bond with full cash in briefcase. Present yourself as if you already own few bmws and jets.
You pay full cash you will get awesome discount.
Believe that!

My mantra: Only buy house on loan and keep repaying till you retire. Rest all things buy without emi/loan.
 
EMI on most credit cards even for three months is 13-14%. No one gives 2% EMI. You'll end up paying more than 16k in interest.
 
Status
Not open for further replies.
Top Bottom