Buying a new car with CC

[Anonymous]

Is it possible without paying extra fee for it?

[Anonymous]

Usually dealers put a limit on how much of the car you can finance with a credit card.

[Anonymous]

I put $5,000 down on a car with my credit card. There were no fees because I paid it off as soon as I got the bill, I just transferred the money from my savings account. This is a good way to do it if you get cash back on your credit card.

[Anonymous]

Lol

[Anonymous]

I think the max is $5k at a lot of dealers. We put that much down on our last car just to get the cash back. We paid it off in full immediately.

But this is not a cost effective way to actually finance a car.

[Anonymous]

When we bought our new minivan in 2010, they let us put $6k on the credit card. We wanted the points, and pay off in full every month anyway (and could have paid 100% cash for the van). We would have put all of it on there, but they wouldn't let us. They have to pay fees on any amount on the card, so won't let you put the entire thing on there....

[Anonymous]

IME the dealer limits it to a few thousand

[Anonymous]

Yeah, I bought a new car 3 months ago, put the entire down payment on my card ($6k). The finance guy didn't say anything. Racked in that sweet cashback if they let you to, why not.

[Anonymous]

In these cases, the fee dealership has to pay when you use cc is calculated in your price. People see the points they get using cc, but don't see that they just overpaid for the car 3% or what have you.

[Anonymous]

When I bought one a few months ago, as a last throw in for negotiation, I told them I wanted to put $15K on AMEX and they said yes. We were paying cash, but thought it was an easy way to get points

[Anonymous]

Anonymous wrote:In these cases, the fee dealership has to pay when you use cc is calculated in your price. People see the points they get using cc, but don't see that they just overpaid for the car 3% or what have you.

Not always the case. Payment methods aren't usually mentioned (except for financing vs cash vs lease) when the deal is negotiated. I just whipped out my car when it's time to pay the down payment.

[Anonymous]

Anonymous wrote:In these cases, the fee dealership has to pay when you use cc is calculated in your price. People see the points they get using cc, but don't see that they just overpaid for the car 3% or what have you.

Nope. I am the PP who did it with a $5,000 down payment. I negotiated the price before I used the card.

[Anonymous]

Anonymous wrote:In these cases, the fee dealership has to pay when you use cc is calculated in your price. People see the points they get using cc, but don't see that they just overpaid for the car 3% or what have you.

That is so not true. Financing step comes next AFTER you settle on the price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In these cases, the fee dealership has to pay when you use cc is calculated in your price. People see the points they get using cc, but don't see that they just overpaid for the car 3% or what have you.

That is so not true. Financing step comes next AFTER you settle on the price.

+1000. I’ve purchased 5 cars in multiple states and financing is always after settling on a price.

[Anonymous]

If you pay with a check as versus a credit card, shouldn't you ask for a 3% reduction in the price then?

Our child's college charged more for tuition payments made with credit cards.