AMEX Card Auto Purchase?

[Open123]

Or, you could revolve the downpayment on the 0% 15 month promo on the BCP or BCE, I suppose.

[enharu]

A friend just bought a Porsche 2-3 weeks ago at Beverly Hills Porsche using her cards (CSP and Amex Plat that she is ACM on) at no extra fee and that was already the lowest price she could get from nearby dealers, so that was a nice bonus.

She was going to use the CSP for the whole thing but having to wait for the charge to post, PIF at branch, and then swipe again was too much of a hassle after the 2nd swipe. Her CL was 35k approx so she would have to do it 4 times in total, since the car was bout 110.

Nice free rewards, but the extended warranty and purchase protection does not apply to automobile purchases sadly she was going to pay for the car in cash anyways so rather than to get a cashiers check for the dealership she just had to pay the bank.

[Open123]

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@enharu wrote:
A friend just bought a Porsche 2-3 weeks ago at Beverly Hills Porsche using her cards (CSP and Amex Plat that she is ACM on) at no extra fee and that was already the lowest price she could get from nearby dealers, so that was a nice bonus.

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Good to know, thanks!  Purchased with "no extra fee" for a CC will be one of my conditions on my next car purchase.

[tray]

I am sure this email was sent out for every amex cardholder member  because I received this same email as well, but lets say you purchased a vehicle using a revolving amex card, how LONG would you think amex will let someone carry a hefty balance like that for a brand new car purchase????

[Open123]

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@tray wrote:

I am sure this email was sent out for every amex cardholder member  because I received this same email as well, but lets say you purchased a vehicle using a revolving amex card, how LONG would you think amex will let someone carry a hefty balance like that for a brand new car purchase????

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I assume anyone considering this offer has already planned to pay for the car in cash; and, is only charging it for the points, rather than just writing a check from his bank account.  Given this scenario, I'd imagine prior arrangements will be made with Amex to ensure the charge is approved, unless a cardmember had a charge card which can handle a single high transaction.

I'd imagine most in the case of buying a car will be using a charge card.

*Edited* - PS - Easy way to meet the $30K spend on the PRG.

[phillyguy12]

i have a zync and bce got the same email today the email ref my zync account- but the site says

"Use your American Express® Card for the full purchase price at select dealers

All dealers accept American Express Cards for purchases of at least $2,000. Dealers with the American Express® logo will accept your Card for the full purchase price"

the email really is just pitching their negotiated pricing feature, nothing new or special i think most banks/credit unions offer similar services

hey if you can toss you charge card down and walk away without a FR i say go for it get those points, i wish i had 20-30 to buy a car outright. i seriously doubt the dealer would be happy about you doing so as they are loosing prob 1 or 2 % on the transaction and would prob offer you something to not use your card.

there is no talk anywhere on the site of it being a pay over time or anything, u charge it they want their money on or before your due date, at most i would use it for my down payment.

[Revelate]

Not sure; money is so cheap right now (still) I'm not certain it makes sense at all to purchase with cash.  Admittedly I'm in a different spot where the installment tradeline helps me credit-wise more than the spending rewards through a card, YMMV.

That said, if the price negotiation was seperate, and there wasn't a fee involved, the time I did purchase a 33K car in cash, I woul'd've loved having put it on my then non-existent cards especially with a non-suck rewards program sweetening the deal.

[enharu]

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@Open123 wrote:

Good to know, thanks!  Purchased with "no extra fee" for a CC will be one of my conditions on my next car purchase.

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What car are you interested in purchasing?

When I got my 3 series early this year, the maximum the dealership was willing to let me swipe was just 2500.

I basically went to truecar.com, got a truecar price for the options I wanted. The "lowest" price is usually a bait and switch price which they will not have the vehicle available or just can't sell at that price. I went to Mckenna which had the lowest price, but the price they quoted me while I'm there was a lot higher. However, I took that printout, went to New Century BMW which happened to have a really similar car, and made them match that price. After that I continued bargaining little by little and got the car about 1.4k below true car, about $50 above invoice (cant remember specific numbers). After the final price was settled, I tried to use my card to pay for the car but they said they'll be making a loss essentially after fees and they couldn't do it. I paid using cashiers check anyways and got a 10k loan from BMW financial just to "help" my credit history, which ended up doing more harm than good. Oh and I even managed to persuade the finance manager to give me a $1000 loyalty cash rebate even though it's my 1st BMW lol. Kept telling him I could have gotten the offer if I had went back to Audi or Mercedes but they should be happy that I decided to go with BMW anyhow.

My guess is that they're willing to do card swipes for cars that are more expensive because of the larger profit margins on those cars. I plan to go car shopping in the next 3-4 weeks after I close a condo, so hopefully they will let me put my car on a card then.

[Open123]

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@enharu wrote:

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@Open123 wrote:

Good to know, thanks!  Purchased with "no extra fee" for a CC will be one of my conditions on my next car purchase.

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What car are you interested in purchasing?

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Either a Mercedes or Cayman S.  Haven't yet decided.

[enharu]

which Mercedes? 

I'm not a porsche guy so......lol.