How much of a car have you charged to a card?

[Anonymous]

Buying soon. My HELOC in Canada is the lowest rate I am going to get so I plan to charge as much to my PRG as I can. The whole car if possible. Then transfer from my HELOC to pay the card. 

[Anonymous]

If you negotiated down to where they are making little to no money on the car, they will probably decline your request to put your downpayment on a CC, simply because of the fees they are charged. The general rule is $3000 on a CC. The other problem is, most lenders, want a "true" downpayment, not a borrowed one. This can become especially sticky if you are considered for a sub prime loan. That said, I have have put $2500 down using a CC.

[Jon123]

help me out here, 

I get the 2-3 K down payment with a CC, but why would you put more than that with the CC, seems an auto note would have a much lower interest rate, ?  

[EddieK]

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@Jon123 wrote:

help me out here, 

I get the 2-3 K down payment with a CC, but why would you put more than that with the CC, seems an auto note would have a much lower interest rate, ?  

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You only want to do this if you plan to PIF.  Great way to get rewards.

[Anonymous]

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@Jon123 wrote:

help me out here, 

I get the 2-3 K down payment with a CC, but why would you put more than that with the CC, seems an auto note would have a much lower interest rate, ?  

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I'm not planning to borrow to buy the car. I am willing to pay cash. I would like to get some points for my payment, e.g., I could put the whole thing on my Amex PRG if they woudl let me.

(Or more accurately I can get under 3% by drawing against my HELOC in Canada rather than borrowing in the US, so from a US perspective it's cash.)

[paramed3]

4000

[jlpaca]

For one car, I put a $4k down payment. They wanted a check but i didnt have any on me and I had to sell my other car that was going to be the down payment but the other dealership closed already, then I pulled out the prg amex and the salesman was like "thats a good card," meaning he wasn't worried it would get declined and he would get his sale. And then I did another $3k for my girlfriends down payment for when she bought a new car and it wasn't even questioned to use another form of payment.

[Anonymous]

I would like to put the whole car on the PRG, but I bet they won't let me. Partly for the points. Partly because I want to be able to say I did it.

Guessing they will limit how much I can pay on the PRG and request a check for the rest.