2007-06-07 16:55:14 · 10 answers · asked by radtek2112 2 in Cars & Transportation ➔ Buying & Selling
Most dealerships will not let you without permission from the President of the dealership. This is because the credit card company (MC, Visa etc) charges a high rate to even use the card. So if the vehicle is $30,000 the dealership may be charged $5,000 just for the transaction. (American Express is a lot higher usage fee.)
2007-06-07 17:02:52 · answer #1 · answered by burberribunni 5 · 1⤊ 0⤋
If the card has a high enough limit. (Most don't.) Be aware that if you do this, and don't pay the credit card bill in full when it shows up, the issuer will eat your lunch in finance charges -- and your dinner, too. Much more sensible: check with your bank, and with the dealer, about financing. You can use the credit card for a down payment if you wish. (On my last deal, the dealer found a better deal than the bank was offering; it was with a reputable credit union with which I had not previously dealt.)
2007-06-08 00:28:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The reason dealers do not like you to put it on a credit card is because it represents a "last ditch" effort to finace a vehicle. They presume that if you could get finacing you would. Why else pay credit card rates for a car. With this in mind, they become worried about your ability to meet your obligation.
2007-06-08 07:48:40 · answer #3 · answered by Jay P 7 · 0⤊ 0⤋
i tried to do that... but the dealership only let me put a max. of $500 on the card. (they pay a percentage of the amount put on the card, y'know). It's not a matter of the card company letting you do it. if your limit is big enough, they're fine with it. If the dealership will let you pay that way, it's up to them, but if you think about it, they'll build their cost into the price of the car. nothing's free. Whatever card you have tho, chances are that their interest rates are a lot bigger than a bank loan or just about any other type of financing. Hope that helps!
2007-06-08 00:16:17 · answer #4 · answered by tried that 1 · 0⤊ 0⤋
Yes, if you have enough on the card. But, the repayments and interest on the card would probably be more than getting a straight car loan. Maybe just use the card for a down payment only.
2007-06-07 23:59:29 · answer #5 · answered by kwilfort 7 · 0⤊ 0⤋
You can but.... Most dealers limit the amount they will put on a card because of the fees they have to pay, usually 1.5-2% sometimes more. We limit the amount to 3000
We will go higher if the customer splits the fee with us.
2007-06-08 19:19:30 · answer #6 · answered by Tom S 5 · 0⤊ 0⤋
Depends on the dealership. They may try to charge you a fee. If it's a 0% card and you "skate' it to another 0% intro rate card near the end of the intro term it could be worth it.
2007-06-08 00:05:45 · answer #7 · answered by BillyTheKid 5 · 0⤊ 1⤋
matters on the dealer i put a down payment on a car for my wife and they would only let us use the card for up to 1000.00. but if that's how you insist on paying I'm sure the dealer would find a way to make it happen. good luck
2007-06-08 00:20:22 · answer #8 · answered by doug h 5 · 0⤊ 0⤋
"Technically" & "Legally" - NO.
Since major credit card companies offer & imply insurances &/or warranties on items purchased on/with their cards. They CANNOT warranty or insure automobiles. Federal law prohibits that.
2007-06-08 11:20:58 · answer #9 · answered by Vicky 7 · 1⤊ 0⤋
Yes you can but only if you have enough money in it!
2007-06-08 00:02:31 · answer #10 · answered by argsoccer 2 · 0⤊ 1⤋