AMEX Card Auto Purchase?

[shane82388]

I got an email from American Express saying that they offer the ability to buy an entire car using your AMEX card...obviously at "select dealers" but does anyone know about this? It seems like its basically an auto loan through your AMEX card somehow which im assuming would have to not count against your normal credit limit or anything? Anyone heard of this before?

https://amexnetwork.truecar.com/main.html?referrer_id=ZAMX000002

[Express]

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@shane82388 wrote:

I got an email from American Express saying that they offer the ability to buy an entire car using your AMEX card...obviously at "select dealers" but does anyone know about this? It seems like its basically an auto loan through your AMEX card somehow which im assuming would have to not count against your normal credit limit or anything? Anyone heard of this before?

https://amexnetwork.truecar.com/main.html?referrer_id=ZAMX000002

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I've got the same offer, But waiting on someone else to try it first! 

[shane82388]

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@Express wrote:

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@shane82388 wrote:

I got an email from American Express saying that they offer the ability to buy an entire car using your AMEX card...obviously at "select dealers" but does anyone know about this? It seems like its basically an auto loan through your AMEX card somehow which im assuming would have to not count against your normal credit limit or anything? Anyone heard of this before?

https://amexnetwork.truecar.com/main.html?referrer_id=ZAMX000002

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I've got the same offer, But waiting on someone else to try it first! 

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haha, i just bought a new car about a week ago so i wount be trying it any time soon but its very interesting....im assuming they must just do that particular "charge" on the side and it functions like a normal loan but you use your card initially to do it....jeez...lotsa membership rewards points!

[gstq34]

Not sure I want THAT bill rolling in the next month to PIF!

[shane82388]

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@gstq34 wrote:

Not sure I want THAT bill rolling in the next month to PIF!

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Yeah, thats why im thinking it must be paid as a side charge type of thing....otherwise who the heck could really do that? 

[Open123]

If the dealership willing to accept a charge on the full price of the car is within 1% of the best price I can negotiate elsewhere for the car, then it's a good deal.  Interesting, might try this for my next car which is coming up.

So, if I use my Plat, do I get the extended warranty?  90 day accidental coverage up to $10K?

[MrCredit]

I dont think they want you to use your card to buy the car. The program is like a shopping program/service that negotiates the best price on a car. I do not believe there is any implication of using your card, its just a benefit of being a cardmember. The service is like carwoo.com

[shane82388]

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@MrCredit wrote:

I dont think they want you to use your card to buy the car. The program is like a shopping program/service that negotiates the best price on a car. I do not believe there is any implication of using your card, its just a benefit of being a cardmember. The service is like carwoo.com

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It literally says "Use your card for full purchase price of the car".

[armbenderc]

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@gstq34 wrote:

Not sure I want THAT bill rolling in the next month to PIF!

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LOL, a lot of people have 35k PoT on the charge card, however the interest rate will kill you.

Maybe Amex has a program that already pre-approved you and all you have to do is charge it on the card and it will transfer in to loan with better rates.

[Creditaddict]

Someone who is using their Amex Charge to buy a car is not looking for financing! and I don't believe Amex offers financing either... this program is to pay with your charge card or I guess if you have a high enough credit line on amex credit card products and PIF unless you really want to revolve that but I have a feeling if you have the credit line to buy a car above $30k you are not revoling that sort of thing on your amex!