Charge Car on Charge Card?

[FrugalRican]

If it CAN be done, then I would definitely do it.

Paying cash for a car when you could use a charge card is missing out on a LOT of points.
Pretty much, missing out on free money.

[LS2982]

@FR +1

If AMEX says yes dooooooeeeeeeeeett! lol

[bostonte]

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@navigatethis12 wrote:

I personally have not but know people who have put it on a credit card. Merchants are not allowed to set a maximum purchase amount for credit card purchases. At least with Visa and Mastercard anyway. American Express sometimes leaves it up to the merchant. The dealer may not like it but they would rather pay 2-3% than lose the sale altogether.

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So you own a car dealership and have seen the specific contracts they negotiated? Large franchised car dealers do not have the same contract as a mom and pop candy store. They are most commonly explicitly prohibited from charging over a certain amount for a car. The underwriting bank doesn't want the risk (either fraud and/or the protections and rights consumers have by law or card company policy). Nor does the dealer. They don't want a car going out without a lein and the having to play games with billing disputes and chargebacks. The dealer does not have the same protections letting a car go on a charge card that they do with a finance contract. Amex has a program to specifically allow it at several types of dealers. Tanner should have his father call Centurion service and they'll explain it to the account holder. Other than that, you should be able to get $2-5000 at most dealers.

[LS2982]

@boston Good post!!

[navigatethis12]

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@bostonte wrote:

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So you own a car dealership and have seen the specific contracts they negotiated? Large franchised car dealers do not have the same contract as a mom and pop candy store. They are most commonly explicitly prohibited from charging over a certain amount for a car. The underwriting bank doesn't want the risk (either fraud and/or the protections and rights consumers have by law or card company policy). Nor does the dealer. They don't want a car going out without a lein and the having to play games with billing disputes and chargebacks. The dealer does not have the same protections letting a car go on a charge card that they do with a finance contract. Amex has a program to specifically allow it at several types of dealers. Tanner should have his father call Centurion service and they'll explain it to the account holder. Other than that, you should be able to get $2-5000 at most dealers.

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No I do not own a car dealership. I was there twice so know for sure that it was done on a Visa and a Mastercard. This was only about two years ago so maybe things have changed since then. I seriously doubt that a credit card company would complete a chargeback, no questions asked, on a huge purchase like that. The dealership gets the money whether the person pays the card off or not, just like if they finance through a bank.

[Anonymous]

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@bostonte wrote:

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@navigatethis12 wrote:

I personally have not but know people who have put it on a credit card. Merchants are not allowed to set a maximum purchase amount for credit card purchases. At least with Visa and Mastercard anyway. American Express sometimes leaves it up to the merchant. The dealer may not like it but they would rather pay 2-3% than lose the sale altogether.

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So you own a car dealership and have seen the specific contracts they negotiated? Large franchised car dealers do not have the same contract as a mom and pop candy store. They are most commonly explicitly prohibited from charging over a certain amount for a car. The underwriting bank doesn't want the risk (either fraud and/or the protections and rights consumers have by law or card company policy). Nor does the dealer. They don't want a car going out without a lein and the having to play games with billing disputes and chargebacks. The dealer does not have the same protections letting a car go on a charge card that they do with a finance contract. Amex has a program to specifically allow it at several types of dealers. Tanner should have his father call Centurion service and they'll explain it to the account holder. Other than that, you should be able to get $2-5000 at most dealers.. 

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 Ill be going to the dealer to look and will ask them when I go. Im not concerned with Amex's spending ability, im concerned with the dealer accepting a card.

[tcbofade]

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@Anonymous wrote:

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Why would my decesed father call? Ill be going to the dealer to look and will ask them when I go. Not concerned with Amex's spending ability, im concerned with the dealer accepting a card.

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I don't know why...or how...but if you figure it out, let me know.  I've got a BUNCH of questions that I'd like to ask MY deceased father... 

[Anonymous]

TannerK,

When you do this could you please ask if your bumper to bumper warranty will be extended by 1 year?

[Anonymous]

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@Anonymous wrote:

TannerK,

When you do this could you please ask if your bumper to bumper warranty will be extended by 1 year?

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Im confused? The warranty lasts longer than I intend on owning the car.

[FrugalRican]

This thread took a very confusing and morbid turn, for some reason.