@longtime_lurker wrote:
@Sharingan wrote:
@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?
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.
@5k swiped @ say...2.5% is only 125....not sure how that's a real dealbreaker
As I said, if it's a razor thin margin, they won't want to pay it. I've been told that I would have to pay the fee after 1-2k. Not sure why that would be hard to imagine ... there's still a number of merchants around the world that don't take credit period. 2.5% of their items would only be a few cents to dollars, and apparently that's enough of an issue to not accept any cards period...
Margins on brand new cars are generally pretty slim. Used cars are much better in terms of profit for the dealer.
But most dealers are willing to accept a down payment on a card. I put my down payment for my last two cars on cards. What I've done both times is apply for a new card with a signup bonus and then go buy my car and use the down payment to meet the spend requirements for the sign up bonus.
My last car earned me 50k Southwest RR points 
@longtime_lurker wrote:
@Sharingan wrote:
@longtime_lurker wrote:
@Sharingan wrote:
@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?
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.
@5k swiped @ say...2.5% is only 125....not sure how that's a real dealbreaker
As I said, if it's a razor thin margin, they won't want to pay it. I've been told that I would have to pay the fee after 1-2k. Not sure why that would be hard to imagine ... there's still a number of merchants around the world that don't take credit period. 2.5% of their items would only be a few cents to dollars, and apparently that's enough of an issue to not accept any cards period...
That is true, but it's also true that I'm not alone in not shopping these merchants very often - especially if im not familiar with their product. It's one thing if I go to a reputable company and use cash. It's different to me if I use cash in a small merchant. - if something goes wrong I have no recourse. So I just avoid most of those merchants. Usually if they don't take CC, I don't use them.
No, you are certainly not alone in that regard. In this arena though, I have been met with the same reluctance to use credit for a large downpayment by the time I get to the finance manager no matter if it's Honda, Lexus, or Acura in my experience. I gladly put what I can on credit (usually 1-3k) and get on my way. They always win in the end anyway, whether it's holdbacks or rebates.
I'm sure there are other concerns for the dealer with credit transactions than just swipe fees as well.
@Anonymous wrote:
@Sharingan wrote:
@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?
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.
You realize the swipe fee on a $3,000 downpayment is all of approximately $60-90. If that's a deal breaker then i'm buying from the wrong dealer.
You can't force them to do something they don't want to do. If 2000 extra points is worth footing the fee, then that option has been available to me in the back room.
I'm a very heavy American Express user. I surely don't give retailers a hard time if they choose not to accept it and pay the small premium over MasterCard/Visa. It would be pennies... but apparently that's enough of a loss for them. I'm not going to pass up a car well below invoice just because they refuse to put more than $3000 on a credit card.
@Sharingan wrote:
@Anonymous wrote:
@Sharingan wrote:
@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?
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.
You realize the swipe fee on a $3,000 downpayment is all of approximately $60-90. If that's a deal breaker then i'm buying from the wrong dealer.
You can't force them to do something they don't want to do. If 2000 extra points is worth footing the fee, then that option has been available to me in the back room.
I'm a very heavy American Express user. I surely don't give retailers a hard time if they choose not to accept it and pay the small premium over MasterCard/Visa. It would be pennies... but apparently that's enough of a loss for them. I'm not going to pass up a car well below invoice just because they refuse to put more than $3000 on a credit card.
I haven't ran into a dealer yet that has had a problem with a $5,000 down payment with CC. 
@Anonymous wrote:
@Sharingan wrote:
@Anonymous wrote:
@Sharingan wrote:
@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?
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.
You realize the swipe fee on a $3,000 downpayment is all of approximately $60-90. If that's a deal breaker then i'm buying from the wrong dealer.
You can't force them to do something they don't want to do. If 2000 extra points is worth footing the fee, then that option has been available to me in the back room.
I'm a very heavy American Express user. I surely don't give retailers a hard time if they choose not to accept it and pay the small premium over MasterCard/Visa. It would be pennies... but apparently that's enough of a loss for them. I'm not going to pass up a car well below invoice just because they refuse to put more than $3000 on a credit card.
I haven't ran into a dealer yet that has had a problem with a $5,000 down payment with CC.
Car dealers do not have the upper hand in negotiations ever. Remember that and you will always get a great deal and your way.
@Anonymous wrote:
@Anonymous wrote:
@Sharingan wrote:
@Anonymous wrote:
@Sharingan wrote:
@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?
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.
You realize the swipe fee on a $3,000 downpayment is all of approximately $60-90. If that's a deal breaker then i'm buying from the wrong dealer.
You can't force them to do something they don't want to do. If 2000 extra points is worth footing the fee, then that option has been available to me in the back room.
I'm a very heavy American Express user. I surely don't give retailers a hard time if they choose not to accept it and pay the small premium over MasterCard/Visa. It would be pennies... but apparently that's enough of a loss for them. I'm not going to pass up a car well below invoice just because they refuse to put more than $3000 on a credit card.
I haven't ran into a dealer yet that has had a problem with a $5,000 down payment with CC.
Car dealers do not have the upper hand in negotiations ever. Remember that and you will always get a great deal and your way.
Or rather, you will think you got a great deal! From time to time, e.g. at the end of the month and they need one more sale to reach the next tier of manufacturer incentives, yes, it might be worth them giving a good pirce, but most of the time they are happy with the "great deal: they give. In the same way the airlines don't really mind when you get that 10c per point trip when they couldn't sell the seat anyway.....