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

[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?

 

[Viper GTS]

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]

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:

 

[FrustratedUser]

I've been playing with that idea myself.

 

[TheLonelyPhoenix]

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.

 

[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

 

[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.

 

[RossMAN]

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".

 

[Mill]

Very few places will do this, but if you are a great negotiator...

 

[Plasdom]

^ that comes in useful when you don't have a card with a high enough limit.

Edit: that was in response to rossMan

 

[RbSX]

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]

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]

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]

I bought a car with home equity once. Interest is tax deductable, so 0% financing

 

[jadinolf]

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.

 

[her209]

Companies do this all the time.

 

[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.

 

[RossMAN]

No one else strokes their plastic credit card?

Hmmn, odd.

 

[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:

 

[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?

 

[Sphexi]

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]

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]

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.

 

[Chello02]

maybe.... if you were looking for a bottom of the line Kia.

 

[z0mb13]

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..