Topic: Buy car with credit card ?

[Smurfboard]

Do any dealers accept credit cards ? I can pay cash for a car, but I'd rather pay with my credit card and then pay it off right away and get the 30000 points. I tried one dealer (Chrysler/Dodge for a new Caravan), and they wanted a fee.

[sirAQUAMAN64]

Pretty sure someone paid on CC for an Altima at the dealership I worked for.

[ovr50]

I didn't think you could do that for the entire price unless it's a car under say $5,000...don't really know...

[johngenx]

When I bought the Forester recently, I asked if I could use my credit card to buy it.  I get 2% cash back and would loved to have done it.  They have a policy of not letting you put more than $5000 on, no matter what you're buying thanks to the percentage they have to pay for their merchant credit card accounts.

[Smurfboard]

Yes, but the percentage a merchant pays is the same whether they are selling socks or cars, isnt it? so I think they are being kindof cheap.

[johngenx]

Yeah, but socks carry a 50% margin on selling price.  Find me a car dealer making those points, and they'll not only take your Visa card, they'll buy you hookers and booze with every purchase.

[ArticSteve]

I all depends on how desperate the dealer is.  Try a Saab dealer.  My sister did it on a new 94 Saab.  But dealer got her back good with crooked service.

[JSCC]

Well, my friend bought his 99 SLK at Victoria Star on his golden Master from Bank of China.
And his delivery date was on the 24th of December.
He said he needed it for the Christmas party, duh, show off.

(Message edited by jscc on February 14, 2005)

[jamie1]

We have had customers buy cars on credit cards. One bought a prowler on a credit card.

[safristi]

I was limited to $5,000 on my Millie's purchase,for reasons stated above.If you find them allowing more than that YOU are paying for it some way or other fer sure.

[William_w]

I was only able to charge $2000 on my CC without a fee on my recent purchase, after that I was told they will be charging me 2% for it.  Since I'm only getting 1% cash back from my credit card company, I did not take their offer and only charge $2000.

[JSCC]

Yup, our dealership charges a 3% service fee for anything above $3000.
Even if you get 2% cash dividend or air miles, it wouldn't make much sense to do it.

I think it is the samething for some shops, eg Canada Computer.
They ask for a 2% service charge if you use CC, but no charge for debit or cash.
Their inventory is not cheap for nothing, if low profit is the way to go, they some how have to find ways to cut cost.
Small size store, low cost salespeople, 0 demos to touch and play with, inventory stacked up to the ceiling, no return but can exchange (only if defective) policy.
Typical Hong Kong business style.

Some shops are even tax free if you pay cash instead of debit. I love Pacific Mall.

[Sterling]

I wouldn't expect any merchant to eat a $500 service charge just so I could get air miles (or whatever) by charging $25,000 on my credit card.

[tenpenny]

On the other hand, I've asked for a discount for paying cash in stores where they do accept credit cards.  I figure if they're willing to drop 2-3% as merchant fees, then they should be willing to drop a few points for cash.  Sometimes it works; depends on the business.

[johngenx]

That is against their merchant credit card agreement.  They may not offer a cash discount or they might lose their ability to take credit cards.  But, some still do it, and they don't get nailed.

[tenpenny]

Yes, in effect, the people who pay cash are subsidizing those who use credit.  I had a waitress in a restaurant ask me if I could use a Visa or MC instead of Amex - they accepted Amex, but the merchant fees were higher.  So we offered to pay cash if we got a discount, otherwise it was Amex.