anyone done it? do dealers normally go for it without adding any processing fees? What about paying part of the cost with a credit card? at least the down payment or deposit (if special ordered). I'm just thinking how nice it would be to book anothe 25k purchase points or *points.
that will be the day when we can do that. I was able to pay for school tuition with a CC until recently. Bagged be a bonus 40K miles a year. Too bad they make you pay the fee now (approx 2%).
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I don't think any dealer will let you buy a car with a credit card--perhaps a cash advance, but that's it. It could turn into a problem for the dealer if the car turns out to be a lemon.
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a former co-worker of mine bought his car with a credit card. I don't know what he had to go through to do it but interesting concept and a good way to earn ALOT of miles at once.
Programs: AA Exec Plat, CO Plat, DL Plat, HH Diamond, Hyatt Diamond, *Wood Plat, Hertz President's Circle.
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Quote:
Originally Posted by yolers
a former co-worker of mine bought his car with a credit card. I don't know what he had to go through to do it but interesting concept and a good way to earn ALOT of miles at once.
A brave dealer sold that car! Aside from the transaction cost to the dealer, there's the risk of different consumer protection laws kicking in! I'd say that unless you have a permanent, low interest rate on that card, the card is associated with a margin account at a brokerage, or you plan to pay the card off immediately, the dealer probably got the better part of the deal!
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Airline grades: AA B; AF B; DL B; B6 A; BA A-; CO D; NW F; NZ B+; UA D-; WN A
anyone done it? do dealers normally go for it without adding any processing fees? What about paying part of the cost with a credit card? at least the down payment or deposit (if special ordered). I'm just thinking how nice it would be to book anothe 25k purchase points or *points.
"$5,000 Maximum Credit Purchase" is posted at the dealership.
Location: No idea usually, but "home" is the SF Bay
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I've helped my friend buy a $6000 used truck via CC. He paid me cash the following month and I picked up 6000 TY points, (actually 12k with the flight bonus)
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I can see if you are gonna be paying sticker price without any Rebates or Discounts and the car/truck doesnt have a Waitlist. Then maybe you would be able to get it all on a CC.
I was amazed that I was able to use my CC for $2500 on a car that I picked-up for $1000 under Dealer Cost. Dont worry they didnt give it away Im Positive the Manufacturer had a ton of Dealer Rebates going on.
When i bought my car (years ago) I asked if I can charge it on my credit card..
They would prefer check because the costs associated with CC add up
significantly for the full purchase.
Typically a dealer makes 4-8% on a new car. if the CC charges them 2% its
a significant chunk of their profit.
