Credit card down payment question

[lonerower]

I have read a few discussions about the use of a credit card for a down payment on a vehicle.  Here is my situation and I am looking to see if I am missing something in my evaluation of what I am going to do.  I am looking at a 25000 vehicle.  I am putting 5000 on a 0% card.  Auto loan is 4%.  Plus I am putting cash down as well.  My thinking is that why not lessen the amount that I am paying an extra 4% and use my 0% card?  I will pay the 5000 off before the 0% rate is up.  Is there any reason not to do this?

[Hoya08]

I don't see any problems if you can, and plan to, pay off 5k before the 0% is up.

[blondy250]

The majority of dealers won't let you do this, costs them too much, among other reasons.

[EddieK]

I've never had an issue with this.  Back in '07, put 5K down with a CC on an Acura TL with no issues.  My dad put the entire amount (19K) on a new Toyota Camry back in '08 on a CC with no problems.

[Remember0]

Here's a tip. Negotiate like usual. Get price of car in stone. Then when down payment comes up, say 5k on this CC (I'd do this BEFORE they run your credit for financing honestly if you can). If they refuse, say thanks, but I can't do the deal without the 5k CC down payment and start walking away. Heck leave your phone # in case they change their mind and go home. I'll bet they change their minds.

You using a CC will cost them ~ .02*5000=$100. If they lose the sale over $100, go to the dealer next door who's happy to take your 5k CC deposit.

[lajntx]

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@EddieK wrote:

  My dad put the entire amount (19K) on a new Toyota Camry back in '08 on a CC with no problems.

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OMG! After paying swipe fees and merchant fees they probably told that salesman - No commission for you!