If you have a high enough limit, can you buy a car with a credit card?

KingNothing

Diamond Member
Apr 6, 2002
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I was just thinking about that...seems like if you had a card that gave cash back or airline miles, buying a car would get a nice kickback. Anyone think a dealership would actually take a credit card?
 

Viper GTS

Lifer
Oct 13, 1999
38,089
405
136
Yes, you can.

The gf did it this weekend.

Dealers don't particularly like it & many would probably refuse on a new/expensive car.

Viper GTS
 

AgaBoogaBoo

Lifer
Feb 16, 2003
26,096
1
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Merchant fees are preferred to be avoided with big purchases like that

Otherwise you could make mortgage payments on CC, imagine points you'd get for that! :shocked:
 

TheLonelyPhoenix

Diamond Member
Feb 15, 2004
5,594
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I've heard of it before.

You'd have to have one insane limit to buy something new, though.

Edit: Oh yeah, and you, of course, have to be ready to pay that bill when the end of the month rolls around. :D
 

Plasdom

Senior member
Jul 17, 2004
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there are ways to get around that. I have been getting offers for 0% transfers or 1.99% transfers for the llife of the loan or for a few years. You can spread the amount over a two or three such cards by using purchase checks to get the money. There may be transaction fees (although some waive them) but these are usually a max of $75
 

RossMAN

Grand Nagus
Feb 24, 2000
78,794
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It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
 

RossMAN

Grand Nagus
Feb 24, 2000
78,794
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Originally posted by: Plasdom
there are ways to get around that. I have been getting offers for 0% transfers or 1.99% transfers for the llife of the loan or for a few years. You can spread the amount over a two or three such cards by using purchase checks to get the money. There may be transaction fees (although some waive them) but these are usually a max of $75
True you can do that but you won't earn any airline miles as it's a BT not "purchase".
 

Plasdom

Senior member
Jul 17, 2004
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^ that comes in useful when you don't have a card with a high enough limit.

Edit: that was in response to rossMan
 

RbSX

Diamond Member
Jan 18, 2002
8,351
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Originally posted by: KingNothing
I was just thinking about that...seems like if you had a card that gave cash back or airline miles, buying a car would get a nice kickback. Anyone think a dealership would actually take a credit card?
My parents have bought their Jaguars, BMWs and my Acura on their visas.. it was the first time anyone had put their entire car on their visa at the BMW dealership.
 

imthebadguy

Platinum Member
Aug 14, 2004
2,703
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nope, my dad tried it few months ago, Brand new 2005 Ford Taurus SEL, around 18grand i think, the dealership wouldnt take the amex, or the mastercard for that matter
 

DAGTA

Diamond Member
Oct 9, 1999
8,175
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Another thing: if you are able to do this, tell the dealer it is your intention. When they get uncomfortable, tell them you'll go for a loan through the dealer if they will beat the APR on your credit card. :)

Keep in mind that your minimum monthly payment on a 20,000 credit card loan could be higher than a car payment on a 20,000 loan.
 

Fritzo

Lifer
Jan 3, 2001
41,746
1,941
126
I bought a car with home equity once. Interest is tax deductable, so 0% financing :D
 

jadinolf

Lifer
Oct 12, 1999
20,952
3
81
88
Originally posted by: FrustratedUser
I've been playing with that idea myself.
Gotta get my eyes fixed. I thought you said you were playing with yourself.;)
 

KingNothing

Diamond Member
Apr 6, 2002
7,141
1
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Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
 

RossMAN

Grand Nagus
Feb 24, 2000
78,794
262
116
Originally posted by: KingNothing
Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
Yes, why do you think CostCo does NOT accept credit cards (except for Amex)?

They pass the 2-3% savings onto their members :heart:
 

KingNothing

Diamond Member
Apr 6, 2002
7,141
1
0
Originally posted by: RossMAN
Originally posted by: KingNothing
Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
Yes, why do you think CostCo does NOT accept credit cards (except for Amex)?

They pass the 2-3% savings onto their members :heart:
Amex doesn't charge the fee?

BTW, I'm soon moving to a city with a CostCo. Any tips?
 

Sphexi

Diamond Member
Feb 22, 2005
7,280
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0
My dad paid for my college education on his Discover charge. He basically charged it, then I paid him before the end of the month, so he'd get major points and airfare miles and whatnot.
 

Spike

Diamond Member
Aug 27, 2001
6,770
1
81
Originally posted by: KingNothing
Originally posted by: RossMAN
Originally posted by: KingNothing
Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
Yes, why do you think CostCo does NOT accept credit cards (except for Amex)?

They pass the 2-3% savings onto their members :heart:
Amex doesn't charge the fee?

BTW, I'm soon moving to a city with a CostCo. Any tips?
Go with a pre-set spending limit or you will be upset when you get to the register. Costco has soooo many nice things for decent prices, it can add up fast! It's kinda cool to visit their flagship stores here in Seattle, especially the one in Kirkland

-spike
 

RossMAN

Grand Nagus
Feb 24, 2000
78,794
262
116
Originally posted by: KingNothing
Originally posted by: RossMAN
Originally posted by: KingNothing
Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
Yes, why do you think CostCo does NOT accept credit cards (except for Amex)?

They pass the 2-3% savings onto their members :heart:
Amex doesn't charge the fee?

BTW, I'm soon moving to a city with a CostCo. Any tips?
Amex also charges merchant cc processing fees but they are partnered with CostCo. Previously CostCo was partnered with the ugly bastard step child Discover card.
 

z0mb13

Lifer
May 19, 2002
18,106
1
76
Originally posted by: RossMAN
Originally posted by: KingNothing
Originally posted by: RossMAN
Originally posted by: KingNothing
Originally posted by: RossMAN
It's possible but it's not the same as paying with cash or loan financing.

You'll have less bargaining power and they won't be thrilled about eating the merchant fees.
So merchants are charged a percentage of each transaction? I thought I'd read that but wasn't sure.
Yes, why do you think CostCo does NOT accept credit cards (except for Amex)?

They pass the 2-3% savings onto their members :heart:
Amex doesn't charge the fee?

BTW, I'm soon moving to a city with a CostCo. Any tips?
Amex also charges merchant cc processing fees but they are partnered with CostCo. Previously CostCo was partnered with the ugly bastard step child Discover card.
I was pissed when costco stopped accepting discover..
 

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