luckydriver Posted March 17 Share Posted March 17 i dont know if it was folklore or what but i always thought you cannot use a CC to buy a car. but my gf just bought one with 5K on her 2% CC and 27K in cash. she said wasnt nailed for a fee but maybe since cars are overpriced it's built in Quote Link to comment Share on other sites More sharing options...
centex Posted March 17 Share Posted March 17 It has long been possible, it is just that many dealerships WON'T. And there are some that will cap the amount you can charge with others wanting to recap the fees they pay. The excuses some will use are truly barf-inducing. Those are the ones I wouldn't hesitate walking away from. Hell, for a period of time, at least between 2005 and 2010, you could even pay the FoMoCo loans using a Chase card (since they had the back-end during the time I had a note on one of the cars with them). This had stopped by the time I got the F-Type (financed through Chase). Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted March 17 Admin Share Posted March 17 55 minutes ago, luckydriver said: i dont know if it was folklore or what but i always thought you cannot use a CC to buy a car. but my gf just bought one with 5K on her 2% CC and 27K in cash. she said wasnt nailed for a fee but maybe since cars are overpriced it's built in So she spent 32K to purchase transportation? And of that amount only 5K was via credit card? hegemony and centex 2 Quote Link to comment Share on other sites More sharing options...
hegemony Posted March 18 Share Posted March 18 5k max on a card is pretty standard in Vegas. What is really weird is they accepted a check for the remaining amount due! MarvBear 1 Quote Link to comment Share on other sites More sharing options...
direct Posted May 8 Share Posted May 8 Other than the % paid to process the card which is usually around 3% of the charge, the dealer is open for the possibility of a chargeback as there is no lien placed on the car compared to a traditional car loan. In the event of unauthorized use of the card or other cardholder dispute whether legitimate or not, the dealer could be subject to a total loss if they were to take full payment of a car by credit card. This is not to say that no dealer would entertain the possibility of doing it or to say that no dealer has ever done it, but this is the reason why most dealers wouldn't accept a credit card other than for a deposit, down payment or other small % of the purchase price. The dealers that I have done business with usually have a max exposure of anywhere from $2k to $5k for a credit card. Some that I have dealt with, will take a higher amount with a debit card but no more than $5k max. Quote Link to comment Share on other sites More sharing options...
centex Posted May 9 Share Posted May 9 21 hours ago, direct said: Other than the % paid to process the card which is usually around 3% of the charge, the dealer is open for the possibility of a chargeback as there is no lien placed on the car compared to a traditional car loan. In the event of unauthorized use of the card or other cardholder dispute whether legitimate or not, the dealer could be subject to a total loss if they were to take full payment of a car by credit card. This is not to say that no dealer would entertain the possibility of doing it or to say that no dealer has ever done it, but this is the reason why most dealers wouldn't accept a credit card other than for a deposit, down payment or other small % of the purchase price. The dealers that I have done business with usually have a max exposure of anywhere from $2k to $5k for a credit card. Some that I have dealt with, will take a higher amount with a debit card but no more than $5k max. That potential charge-back situation is easily remedied by filing the appropriate felony charge... MarvBear and hegemony 2 Quote Link to comment Share on other sites More sharing options...
direct Posted Tuesday at 10:43 AM Share Posted Tuesday at 10:43 AM 19 hours ago, centex said: That potential charge-back situation is easily remedied by filing the appropriate felony charge... Why would a car dealer want to deal with that aggravation as well as the attorney and court costs when they could just do what they are doing now...limiting their exposure to credit card purchases. Quote Link to comment Share on other sites More sharing options...
centex Posted Tuesday at 02:09 PM Share Posted Tuesday at 02:09 PM 3 hours ago, direct said: Why would a car dealer want to deal with that aggravation as well as the attorney and court costs when they could just do what they are doing now...limiting their exposure to credit card purchases. They would have no attorney fees or court costs. Felony charges are prosecuted by the State. MarvBear 1 Quote Link to comment Share on other sites More sharing options...
hegemony Posted Tuesday at 05:28 PM Share Posted Tuesday at 05:28 PM I hear you can buy TWO DODGE DURANGOS with an amex card. MarvBear 1 Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted Tuesday at 05:35 PM Admin Share Posted Tuesday at 05:35 PM 31 minutes ago, hegemony said: I hear you can buy TWO DODGE DURANGOS with an amex card. Excellent memory!!!!!!!!!!!! hegemony 1 Quote Link to comment Share on other sites More sharing options...
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