Credit Card Car Downpayment

[Anonymous]

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@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?

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Credit is a form of payment. Why wouldn't they take it?

[ksantangelo23]

Swipe fees!

[Anonymous]

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@ksantangelo23 wrote:

Swipe fees!

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Are swipe fees worth losing the sale? "I'll walk out RIGHT NOW!"

[Anonymous]

Congrats on your car OP and thanks for sharing Didn't think a down payment that large could be put on a credit card but good to know.

Wasn't aware of this program so thanks for the link ksantangelo. Might come in handy next year.

[longtime_lurker]

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@Anonymous wrote:

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@ksantangelo23 wrote:

Swipe fees!

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Are swipe fees worth losing the sale? "I'll walk out RIGHT NOW!"

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"but sir, isn't there another way you can pay?" "NO! GIVE ME AA MILES OR GIVE ME ANOTHER CAR DEALER" - and just storm out.

It's perfect.

[Anonymous]

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@longtime_lurker wrote:

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@Anonymous wrote:

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@ksantangelo23 wrote:

Swipe fees!

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Are swipe fees worth losing the sale? "I'll walk out RIGHT NOW!"

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"but sir, isn't there another way you can pay?" "NO! GIVE ME AA MILES OR GIVE ME ANOTHER CAR DEALER" - and just storm out.

It's perfect.

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"Throw in the sunroof and nav and i'll bring a checkbook"

[longtime_lurker]

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@Anonymous wrote:

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@longtime_lurker wrote:

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@Anonymous wrote:

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@ksantangelo23 wrote:

Swipe fees!

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Are swipe fees worth losing the sale? "I'll walk out RIGHT NOW!"

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"but sir, isn't there another way you can pay?" "NO! GIVE ME AA MILES OR GIVE ME ANOTHER CAR DEALER" - and just storm out.

It's perfect.

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"Throw in the sunroof and nav and i'll bring a checkbook"

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"And by throw in nav, I want OnStar (or whatever brand's equivalent) paid for life of car"

"So....AMEX?"

[Anonymous]

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@longtime_lurker wrote:

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@Anonymous wrote:

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@longtime_lurker wrote:

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@Anonymous wrote:

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@ksantangelo23 wrote:

Swipe fees!

---

Are swipe fees worth losing the sale? "I'll walk out RIGHT NOW!"

---

"but sir, isn't there another way you can pay?" "NO! GIVE ME AA MILES OR GIVE ME ANOTHER CAR DEALER" - and just storm out.

It's perfect.

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"Throw in the sunroof and nav and i'll bring a checkbook"

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"And by throw in nav, I want OnStar (or whatever brand's equivalent) paid for life of car"

"So....AMEX?"

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This. Totally this.

[Sharingan]

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@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?

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I'd be surprised too if they willingly charged that much on credit - that's a hefty downpayment on credit. I've purchased several cars in the past few years; and by gauging the dealer's willingness to put a large down payment on a credit card, you can determine if you've truly made a great deal after negotiations. If a dealership is more than willing to charge a big down payment, chances are they are making a healthy profit off the sale. That's not to say you didn't get a great deal, I'm just providing my experience, as requested. If the profit margin is razor thin on the deal, a swipe fee on a $3000+ downpayment should be a deal breaker for them. I always love the "I'm losing money on this sale" line that they pull. 

[longtime_lurker]

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@Sharingan wrote:

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@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?

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I'd be surprised too if they willingly charged that much on credit - that's a hefty downpayment on credit. I've purchased several cars in the past few years; and by gauging the dealer's willingness to put a large down payment on a credit card, you can determine if you've truly made a great deal after negotiations. If a dealership is more than willing to charge a big down payment, chances are they are making a healthy profit off the sale. That's not to say you didn't get a great deal, I'm just providing my experience, as requested. If the profit margin is razor thin on the deal, a swipe fee on a $3000+ downpayment should be a deal breaker for them. I always love the "I'm losing money on this sale" line that they pull. 

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@5k swiped @ say...2.5% is only 125....not sure how that's a real dealbreaker