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Paying Deposit With Credit Card


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#1
beauwlf

Posted 26 February 2012 - 09:17 PM

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1)Can we pay the 10% deposit with credit card

2)SA says the loan is approved , so is the step is to pay the deposit?
So far have not made any payment... i pay the deposit only after the car is ready is it ? so before that pay booking fee ?


Regards


#2
MASsenger

Posted 09 March 2012 - 09:56 AM

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QUOTE (beauwlf @ Feb 26 2012, 09:17 PM) <{POST_SNAPBACK}>
1)Can we pay the 10% deposit with credit card

2)SA says the loan is approved , so is the step is to pay the deposit?
So far have not made any payment... i pay the deposit only after the car is ready is it ? so before that pay booking fee ?


Regards

You are getting confused with deposit and balance payment or also called down payment.
Deposit is when you place a booking for the car. It may be $500 or $1000 or a bit more.
Balance is on the road price of the car, minus loan,minus deposit.
Both of these can be paid by credit card.

Once the loan is approved, next step is to pay the balance.

The REALdeal


#3
beauwlf

Posted 11 March 2012 - 05:29 PM

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QUOTE (MASsenger @ Mar 9 2012, 09:56 AM) <{POST_SNAPBACK}>
You are getting confused with deposit and balance payment or also called down payment.
Deposit is when you place a booking for the car. It may be $500 or $1000 or a bit more.
Balance is on the road price of the car, minus loan,minus deposit.
Both of these can be paid by credit card.

Once the loan is approved, next step is to pay the balance.

Yes sorry, i was referring to the down payment. La the show room ppl said cannot pay by card.. eventually had to fork out cash for that downpayment... sigh

#4
Nokia6280

Posted 11 March 2012 - 07:07 PM

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QUOTE (beauwlf @ Mar 11 2012, 05:29 PM) <{POST_SNAPBACK}>
Yes sorry, i was referring to the down payment. La the show room ppl said cannot pay by card.. eventually had to fork out cash for that downpayment... sigh


Something fishy.. you received your car? smile_question.gif

#5
beauwlf

Posted 17 March 2012 - 04:39 PM

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QUOTE (Nokia6280 @ Mar 11 2012, 07:07 PM) <{POST_SNAPBACK}>
Something fishy.. you received your car? smile_question.gif


Emmm not yet.. should be getting it next week. Well the bank loan was approved then only i paid that balance payment.

Though paid by cash/transfer i have bank record to show the payment transaction..

Oh boy i hope my story doesn't get into the Con case section of this forum !


#6
Gbrava227

Posted 17 March 2012 - 05:27 PM

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Correct me if I'm wrong..paying by credit card maybe consider as Cash Advance..please check with the bank first..

QUOTE (beauwlf @ Mar 17 2012, 04:39 PM) <{POST_SNAPBACK}>
Emmm not yet.. should be getting it next week. Well the bank loan was approved then only i paid that balance payment.

Though paid by cash/transfer i have bank record to show the payment transaction..

Oh boy i hope my story doesn't get into the Con case section of this forum !



#7
MASsenger

Posted 18 March 2012 - 09:29 AM

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QUOTE (beauwlf @ Mar 17 2012, 04:39 PM) <{POST_SNAPBACK}>
Emmm not yet.. should be getting it next week. Well the bank loan was approved then only i paid that balance payment.

Though paid by cash/transfer i have bank record to show the payment transaction..

Oh boy i hope my story doesn't get into the Con case section of this forum !

Not to worry, some dealers may insist cash for their own reasons. Although it is unusual, it has happen to me before. Keep nagging them if your car is ready!

The REALdeal


#8
MASsenger

Posted 20 March 2012 - 09:49 AM

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QUOTE (Gbrava227 @ Mar 17 2012, 05:27 PM) <{POST_SNAPBACK}>
Correct me if I'm wrong..paying by credit card maybe consider as Cash Advance..please check with the bank first..

Yes it is cash in advance,but why need to check with bank? This is the facility provided by the bank to the credit card holder.

The REALdeal


#9
vr2turbo

Posted 21 March 2012 - 02:14 PM

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QUOTE (beauwlf @ Mar 11 2012, 05:29 PM) <{POST_SNAPBACK}>
Yes sorry, i was referring to the down payment. La the show room ppl said cannot pay by card.. eventually had to fork out cash for that downpayment... sigh

I did my payment all by cheque. Anyway, they can still clear the cheque as nothing is release yet..... smile_tongue.gif

#10
br1

Posted 21 March 2012 - 10:44 PM

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QUOTE (vr2turbo @ Mar 21 2012, 02:14 PM) <{POST_SNAPBACK}>
I did my payment all by cheque. Anyway, they can still clear the cheque as nothing is release yet..... smile_tongue.gif


paid with card and cheque - no problem for both as long your card and cheque can be cleared.