Stupid Question: How do you make the down payment on a car?

[dxkj]

I just realized that I didnt know this..... assuming you put $4k down on a car. What choices do you have to do this? Check? Cash? (who carries around 4k in cash), deposit from bank?



Thanks for answering that noobish question that I hadnt thought to ask before now.

 

[SaltBoy]

Check.

 

[ggavinmoss]

Check or credit card are popular.

-geoff

 

[dxkj]

Originally posted by: ggavinmoss
Check or credit card are popular.

-geoff

Thanks guys, I figured as such but I wasn't sure.

 

[Armitage]

Paypal

 

[JulesMaximus]

Check. Only an idiot would charge a downpayment on a car on a credit card unless you have the money to pay it off right away and fully intend on doing just that. You would be better off putting zero money down rather than charging it.

 

[waggy]

you need to have sex with the salesmen.

 

[Vic]

Certified cashier's check for larger amounts

 

[Mr N8]

Cashier's check for anything over $1000.

 

[iamwiz82]

the penny jar

 

[CPA]

Down payment? What's that?

I don't make down payments on cars.

 

[RossMAN]

4 possible methods (listed in order of most preferred)

1) Cashier's Check
2) Personal Check
3) Cash
4) Credit Card (which risks not being accepted and/or you will have to pay the 3% VISA/MC processing fee).

 

[JulesMaximus]

If buying from a dealership personal check is fine.

Private party will probably demand cash or cashiers check.

 

[spidey07]

Originally posted by: Vic
Certified cashier's check for larger amounts

yep.

 

[dxkj]

$5400 down.

 

[OZEE]

Originally posted by: JulesMaximus
Check. Only an idiot would charge a downpayment on a car on a credit card unless you have the money to pay it off right away and fully intend on doing just that. You would be better off putting zero money down rather than charging it.

I knew a guy who ordered a brand new pickup several years ago. Got quite a good discount for financing it through Ford - only had to make one payment, then paid it off with his Discover card - got the maximum amount back on that - then paid off his Discover card in full when the statement came. Got that pickup for several thousand less than list by taking advantage of the system.

 

[fs5]

Originally posted by: OZEE

Originally posted by: JulesMaximus
Check. Only an idiot would charge a downpayment on a car on a credit card unless you have the money to pay it off right away and fully intend on doing just that. You would be better off putting zero money down rather than charging it.

I knew a guy who ordered a brand new pickup several years ago. Got quite a good discount for financing it through Ford - only had to make one payment, then paid it off with his Discover card - got the maximum amount back on that - then paid off his Discover card in full when the statement came. Got that pickup for several thousand less than list by taking advantage of the system.

yup, it's called a dividends card. I put a $1000 deposit (for ordering) down on my cc.

 

[dxkj]

I would pay a chunk using my discover card if they didnt charge me 3% to do so.

 

[Pepsei]

Originally posted by: JulesMaximus
Check. Only an idiot would charge a downpayment on a car on a credit card unless you have the money to pay it off right away and fully intend on doing just that. You would be better off putting zero money down rather than charging it.

What are you talking about? I was disappointed I couldn't put all 5k on my Sony card for the points. I could only do 3.5K on the credit card.. I do have the money to pay it off so it wasn't a big deal.

No extra fees for me when I used it to buy a new truck .