cancel
Showing results for 
Search instead for 
Did you mean: 

Down Payment on Credit Card?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Regular Contributor

Down Payment on Credit Card?

I want to put a $5k down payment on a credit card.  It will be for a Subaru and I plan on paying it off in a few months (I want to keep my cash reserves where they are at the moment...please don't judge me).  Waiting for the salesperson to get into work this afternoon to sign the papers.  Does anyone have any luck doing this?  I have heard it shouldn't be a problem and it will just cost an extra $100 or so for the "transaction fee".

Message 1 of 7
6 REPLIES 6
Highlighted
Community Leader
Super Contributor

Re: Down Payment on Credit Card?

Most dealers cap at about $3500







Message 2 of 7
Highlighted
Regular Contributor

Re: Down Payment on Credit Card?

I would say it varies by dealer. I bought a car two years ago with a $3,000 down payment. They'd only let me put $1,000 on a credit card. But in August I bought a new truck and they let me put the entire $15,000 down payment on a credit card.


EQ8: 732 | TU8: 728 | EX8: 726
EQ9: 753 | TU9: 723 | EX9: 748

AMEX PLATINUM NPSL | AMEX GOLD NPSL | AMEX BCP $6,000 | AMEX SPG $1,000 | CSP $6,000 | CFU $4,500 | SLATE $3,000 | FREEDOM $2,000 | DISCOVER CHROME $4,100 | DISCOVER IT $10,000 | CAP1 QS $1,500 | NFCU GOREWARDS $11,500 | NFCU FLAGSHIP $22,000 | NFCU PLAT $11,900 | BBVA COMPASS $4,000 | HOME DEPOT $10,000 | OVERSTOCK $21,000 | AMAZON STORE CARD $6,000 | LOWES STORE CARD $12,000 | NFCU CLOC $10,000 | PENFED PLOC $25,000 |

Message 3 of 7
Highlighted
Frequent Contributor

Re: Down Payment on Credit Card?

Just bought one last month with $3,000 on a credit card no problem but totally depends on the dealer.  

 

 

 

Message 4 of 7
Highlighted
Regular Contributor

Re: Down Payment on Credit Card?

So they only allowed $3k on the CC.  I just paid the difference cash.  Oh well.

Message 5 of 7
Highlighted
Community Leader
Super Contributor

Re: Down Payment on Credit Card?

The dealers can do more, they just choose not to because of the swipe fees. And, I just noticed they charged you a transaction fee. If you live in one of the 10 states that forbid surcharges on credit card transactions, what they did was illegal.







Message 6 of 7
Highlighted
Regular Contributor

Re: Down Payment on Credit Card?


@Brian_Earl_Spilner wrote:

The dealers can do more, they just choose not to because of the swipe fees. And, I just noticed they charged you a transaction fee. If you live in one of the 10 states that forbid surcharges on credit card transactions, what they did was illegal.


They didn't charge me a fee.

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.