do car dealerships accept credit card as a form of payment for new cars?

Answer 1

Legally speaking, you are crossing a very grey area.

1st of all, most credit card companies have some type of warranty, insurance, or guarantee written into their 'terms of agreement' on your purchases. Since a credit card company CANNOT warranty, insure, or guarantee an automobile, or any part of the automobile ( down payment=partial payment) using a credit card for a partial or full payment for an automobile is not really legal. There are state and federal laws regarding automobile warranties, & insurances, etc

Many dealers will allow you to use a credit card to purchase additional products, accesories and/or services, though.

There are also state & federal laws regarding interest rate 'caps' on vehicle purchases.

Next there is the additional charge that the credit card company will charge the dealer. This can be up to 5% of the credit charge total. On a $20,000 purchase, they can charge the dealer $1000.
I suppose if you are payingthem enough profit to cover their additional fees, that they some dealers would 'find loopholes' to allow it.

Many legitimate credit companies can & do issue blank checks to you for just this sort of purchases and then they charge you extra for a 'cash advance'

So I suppose if the dealer worded your purchase order to say you were useing your credit card to pay for ; accessories, extended warranties, or additional optional equipment, they could get away with it , as a partial payment.

Again, I say, this is a very grey area.
And one that you should be very careful with.

Answer 2

I would go with the check or certified check method...they will call and verify funds at your bank before they let you drive off anyway. I am sure that if you show up with a Platinum Visa they would accept that as well...they will obviously run the card while you are there but I don't know that this is the best financial method for you...if you had good enough credit to have that card then you could just finance with a different type of loan for a lower interest rate. That depends on the interest rate on your card. Of course, if I just had the money to buy the car I would enjoy walking through the door with a bag full of small bills just to watch them count it...tee hee hee.

Answer 3

They will allow you to put 2-3 grand on your credit card, if the car costs considerably more. And you should do that, especially if you get some kind of perks from your credit car as miles and such.

Answer 4

Assuming you have a high enough remaining balance to pay for the vehicle, I'd assume they would accept it.

The real question here is, what kind of fool would pay credit card interest rates for an automobile? Are you actually trying to go bankrupt?

Answer 5

Yes, I purchased a vehicle from a dealership on my cc. I got the points/miles, too.

I cleared the balance that month so I didn't pay interest.

Answer 6

yes though it was only in a deposit, i put down 3000 in cash and 2000 on my credit card and nothing went wrong

Answer 7

depends on the dealer. call and ask them first... if they do your ok... if not... ya may be able to call you dredit card company and see if they can issue you a check for that amount it may be charged as a cash advance.. or ya may be able to talk to them about being able to have it placed on the card as a charge.

Answer 8

yes they do but first they have to verify it through the credit card company...

Answer 9

Yes.

Answer 10

not usually because they have to pay away up to 5% to the CC company