Can I buy a car using my credit card?

Question

I thinking about buying a car 20grand out the door max. I dont want a lecture on credit please.

1. One is to buy car and put it on my credit card. Can this be done? Do dealership take credit cards?

2. I have really good credit and get these blank 0% APR until, lets say July 2007 all the time. I can use these for purchase or deposit it in my bank account but it will be treated as a cash advance and has a max fee of $90. So if I write a check for $10,000, there will be a fee of $90. So I was thinking of writing the check to the dealership or myself. When July 07 comes and interest rate kick in, I would transfer that balance to another credit card with 0% offer. So overall I pay 0% interest and all I lose is about $90 in fees, and my car will probably be paid off by the time the promotion period ends.

Answer 1

If your credit is so stellar, why not go out and purchase a car at 0% APR for 60 months new from the dealer? Then you don't hav e to worry about rolling over onto a new credit card every year.

Answer 2

That would work IF you were to make payments on the credit card while you still had zero owed/interest. Otherwise, when the 0% interest time period is up, you'll get ALL the back interest added onto your total amount owed. It'd have to be done about 60 days before the 0% is up. Balance transfers aren't done overnight.

My mom had excellent credit & did what you're wanting to do. She made the payments like she would have to a finance company, but to the credit card company for the whole time of her 0% timeframe. Right before it was up, she got some money from an accident settlement & paid it off. The credit card company tried to attach an early payoff fee penalty. She fought it & won; they had to eat the fee.

Sounds like a good plan to purchase the car. Just make sure to read ALL the fine print of the 0% card(s) so that you don't misunderstand one inch. AND so you can avoid any hidden fees.

Answer 3

Companies that accept credit cards have to pay a fee to the credit card companies when they accept a credit card. This will reduce the profit the car dealer gets, so they will probably not want to accept the credit card for that high of an amount. You can ask, but don't be surprised when they say no.

Answer 4

just ask the dealer. some will allow it, but may chare an extra 2-3%.

If you are writing them a check then it shouldn't matter that it happens to be a credit card balance transfer check. You don't even need to tell them that it is a credit card check.

Answer 5

Dealerships have a limit on how much you can charge on a credit card. The bank usually charges the seller a fee which is a % of the transaction, so that's money out of their pocket.

Answer 6

no, you cannot buy a care with the care credit card sorry, it is just for vet bills, for your pet.you can buy a care with a credit card [yes] visa, mastercard ect... make damn sure, your interest rate on the card,or cards is as low as you can get it,,,, , i used to be a car salesman at mancari chrysle in oak lawn il, call me and i will explain how to get a great deal, especially if your female, no scambo, just give me a call, i,ll help you, with what and WHATNOT to do or say.

RESPECTFULLY, Bill Starkey.. 708-5341203, call in like 5-10 mins, as i have to do some arrands.

Answer 7

You can if you've got a big enough limit on the card, but before going any further you may want to give the "Buying a Car" section on financial website Fool.com a read: http://www.fool.com/car/Buyingacar.htm

They also have a very good section on Credit cards if you have any further questions http://www.fool.com/ccc/ccc.htm?source=PFinAg

Answer 8

its depend on your card limit if u r a big corporate business man then bank will give u as much credit as u want but u r a small person into business then your credit card has cirtain limit.

Answer 9

As long as your credit limit is enough ... yes you can buy a car. Dealers don't care where the money comes from, as long as they get it.