Car & Bike Planning to purchase new car.. 8lkhs,, ,credit card payment OK?
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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 dnt think so. But I'm sure people with more experience with credit card can chip in.
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.
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.
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.
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.
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..
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..
Use it to bargain and get a discount on the car itself. I am sure you will get more that 16000 discount.
Even if he does get a discount, he'll be better off using chq or rtgs and still save that extra 16k.!
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.
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..
.will understand and refrain from answering absurd things..
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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.
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.
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.
Its just like SRK having cc credit limit of 50lacs and he is gonna buy 1BHK though it wont suit him!
