Buying a car on a credit card?

[youngandcreditwrthy]

I've looked into leasing b335i. Even though the CLA is the least expensive entry level MBenz has, they treat leasing like it's an E class and expect you to pay like 450-550 a month.

[youngandcreditwrthy]

Last I called, they said 3.19 or something like that was the lowest, but they were offering like 0.9 on "select" CPOs

[Creditaddict]

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@youngandcreditwrthy wrote:

I've looked into leasing b335i. Even though the CLA is the least expensive entry level MBenz has, they treat leasing like it's an E class and expect you to pay like 450-550 a month.

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while I wouldn't lease since you have half down the lease specials are like $319 and $359 for awd or something close to that with $3-$4k down.

[DrZoidberg]

I bought a $12k car on a card before. It's really up to the dealers. They usually won't since they make money through the financing and the fees with usung cards are high.

[youngandcreditwrthy]

Good points everyone.

I'm talked out of buying a new car at all. LOL

Ill just wait a year and see how much I can save. Big blue wont depreciate much in the next  year! Besides, by the time next year rolls around, I can prob find a CLA with 20k or so miles and get a rullllll gewd deal! lol

[compassion101]

I'd keep the car and put the 15k into interest bearing accounts, roth ira, etc

[Shogun]

I bought my son a new car last August.  Once I had figured out what he wanted, we went to the finance guy.  I told him my CU offered me a rate of 1.9%, if he could beat it, he could have it.   He punched my info into the computer, looked at me and said 1.74% from BOA.   I told him sold.

[navigatethis12]

I'd never rely on a dealership to find financing. I went to three credit unions and got my approval and that was the end of it. I got 2.74 on 33,000, which isn't that bad. I thought about using a card with 0% interest and balance transfer to another and another until it's paid down, but it's risky. Suppose something happens and you can't pay back the money before 0% runs out? At least with a loan you have 2-8? years to pay and only have a small amount to pay and can still keep the interest rate.

Keep in mind that even though it's 0%, the fee what you can call interest. 3% isn't bad though, so that shouldn't be that big of a deal. You say you've been talked out of it, but if it's what you really want, I say go for it. My mom and a few others kept telling me to buy something cheaper and I don't need my dream vehicle at the "young" age of 23, but I told them it's not their business and I would do what makes me happy. I bought it six months ago and haven't regretted making the decision.

[johnpalley]

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@junior88 wrote:

If you happen to apply with State Farm it is a TU pull and it takes like maybe an hour. You will be approved no problem.

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do they need income verification?

[asulaw]

I agree with what Shogun and Creditaddict are saying, stay away from putting this car onto a card. Think about what all that revolving credit is going to do to you, and god forbid something may come up that you desperately need that availability. Not until recently did I have a larger limit on my cards, and something came up and I had my limit available for me to use.

You should do what Shogun did and see what they will do. A lot of times they will crumble in front of you just so they can get the sale. Too bad it isn't December, I know they like to do stuff around then because they want their sales to look good for the end of the year.