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UK Purchase via PCP Finance

Discussion in 'Model S' started by Rob Evans, May 18, 2016.

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Have you / will you purchase your Tesla with finance?

  1. I have / will finance a large portion of the car

    4 vote(s)
    100.0%
  2. I have / will finance a small portion of the car

    0 vote(s)
    0.0%
  3. I have / will purchase outright in cash

    0 vote(s)
    0.0%
  1. Rob Evans

    Rob Evans Member

    Joined:
    May 18, 2016
    Messages:
    7
    Location:
    UK
    Hi all,

    I have put an order in for a Model S and applied for PCP finance.

    The question I have is, can I pay the finance "downpayment" via credit card? I have some lovely 0% CCs and doing it this way would reduce the interest rate being paid for the credit (although speed up the repayments as I will have to pay more per month on the CC to keep it 0% by the end of the 0% term - which is not a problem).

    I had also considered taking out a personal loan that had no early repayment penalty and then doing a transfer to a 0% money transfer card with a 1.69% transfer fee... effectively costing 1.69% instead of the 5.9% that Tesla PCP costs.

    I'm trying to maintain cash flow capability instead of tieing up £15.5k in cash straight into a car. I am purchasing the car through my business.

    Does anyone else have experience doing anything like this? I realise that for most people, worrying about £15k when they are buying an £80k car is probably not on their problems list :)
     
  2. Rob Evans

    Rob Evans Member

    Joined:
    May 18, 2016
    Messages:
    7
    Location:
    UK
    So I have found the answer to this question. Tesla requires that you pay the downpayment via BACS transfer with cash. They do not accept credit card payments.
     

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