Has anyone ever purchased a car with a credit card?

Question

I haven't researched this, but I can write a credit card check for the total purchase price of a car I'm looking at, fixed APR of 3.9 percent until paid off, with a $199 transaction fee. At first glance, this seems like a no-brainer.

Answer 1

no (high interest c cards) I found interesting information about your answer & car loans options here. http://all-debt-consolidation-loan.blogspot.com/2007/08/car-loans.html Good luck!

Answer 2

I would look into this further. Usually there is some fine print which states that the interest rate will spike after a short period of time. It can be done but I would not suggest it. I believe that you will end up paying more in interest and fees (not only balance transfer but annual, semi-annual, or transaction/check cashing fees) in the long run.

Answer 3

You can ask what's the most the dealer will let you put on your card. I put my deposit on it, but that was only about $500, the rest I had to pay by check. It would have been nice to put more as I get 1% cash back on my card.

Answer 4

try to bargain on the balance transfer fee-- you can write the check to yourself and include x-tra money for your your plates or some upgrades-- you won't be obligated to carry full coverage on your auto either- beware-- one late payment can turn the interest rate to above 20%

Answer 5

Dealers will not let you do that, since they pay percentage on the transactions.
Tried it myself. They will let you do a 'down payment', however.
Also, they are trying to get you to do the financing with them..

Answer 6

I have never done this myself, but I know that it has been done. My real issue is that if you can't write a check form your checking account, you really can't afford the car.