topic Using a CC to buy a car in Credit Cards

Using a CC to buy a car

Anonymous — Sat, 11 Dec 2010 20:32:19 GMT

So out of curiousity, and because USAA touts this on their website, has anyone used a Credit Card (not debit) to buy part or all of a car?

My credit line is $24k on one of my USAA cards, so I could, in theory, put the whole car on there, and then pay it off the next day and get all those reward points. Of course, carrying that balance would be bad, but if you pay it off, it could pay off for you....

So if you've done this:

How much did you put on?

What dealer did you use (or what type of car)?

Was it a new or used car?

Did you have any trouble with it?

What card did you use?

Cheers!

Re: Using a CC to buy a car

mross1080 — Sat, 11 Dec 2010 20:35:15 GMT

Most dealers will only let you pay part on a credit card. And I dont think ive heard of putting more than 10k down on a card. Some dealers might accept it but I think most are cautious of chargebacks.

Re: Using a CC to buy a car

andre181 — Sat, 11 Dec 2010 22:50:23 GMT

I paid my $1000 down payment on my car on my WF credit card. It was a new car.

The dealership wouldn't take a personal check for a down payment, they wanted a cashiers check or credit card.

It was a very reputable Honda dealer.

No problems at all.

Re: Using a CC to buy a car

UpNUp — Sun, 12 Dec 2010 00:09:23 GMT

My husband used my Chase PerfectCard (29.24%) to purchase a used truck for 6.9K from a independant used car dealer. No problem. 1% cash back.

He timed it right after the statement cut so he would have about two months to PIF.

Re: Using a CC to buy a car

Anonymous — Sun, 12 Dec 2010 01:48:00 GMT

Many dealerships will allow you to put "an" amount down on a credit card, especially with the rise in people's debit card use.

They rarely allow a huge percentage of the purchase due to transaction fees. 2% on 10,000 can rapidly cut into gross profit on an entry level new car.

Most dealerships will not allow the entire purchase to be put on a card due to issues with titling, the lien-and chargebacks/fraud.

Re: Using a CC to buy a car

Anonymous — Sun, 12 Dec 2010 09:46:45 GMT

I used my Amex Blue Cash to put down $1,500 on a new 2009 Nissan 370z last summer. I believe the max they'd take on a CC was $2k.

I think the major dealerships cap how much how you can pay on a CC. Having the deposit on my Amex was nice, because when they tried to **bleep** me on the options I ordered, I threatened to walk out. They said they'd keep the deposit, I told them I'd dispute the charge. They said that was illegal, and I told them they could take it up with Amex. They caved immediately and gave me what they'd originally promised.

Re: Using a CC to buy a car

Anonymous — Mon, 13 Dec 2010 03:23:14 GMT

I put my 2010 Honda Civic on my Citi AAdvantage card, and did the same two weeks later for my mom's 2010 Honda Civic.

I was very surprised that the Honda dealer accepted the full amount to be paid via credit card, but I'm not complaining, with the miles earned.

Re: Using a CC to buy a car

Anonymous — Mon, 13 Dec 2010 05:07:25 GMT

Not the entire car but I made payment of 25% of the sell price of a new Lincoln MKS. It was a lease but, I was told NY state does not allow for more than 25% of the total vehicle sell price up front (unsure if true). The salesperson did not think it was doable but when I insisted, he went to his manager and put it together. Hey, I wanted the extra miles and thought it was smarter than just giving them the cash.

Card: Chase United Visa

Amount: $13,500

Re: Using a CC to buy a car

tengtengvn — Mon, 13 Dec 2010 17:33:58 GMT

Every dealer has a limit on how much you can pay with CC. I put ~$2000 on CC out of $7000 down payment for my Infiniti last summer.