Down payment

[Jpmack29]

just curious- I have cash to put down on a new vehicle, but plan on matching that amount with one of my credit cards ( simply for the points/cash back), so my down payment will be times two. Does anyone know if dealerships, banks allow this? Or just frown upon it and accept it? Thanks for any insight! 

[jeffm4688]

It really depends on the dealer, I've bought two new cars in the past 4 months and both times I put my entire down payment down via credit. Some dealers allowed only $2K down via CC, others had other limits like $5K. The limits can usualy be adjusted by a manager though.

[Jpmack29]

Yeah, I was thinking of putting 2500 or 5000 down with my card if I could

[Anonymous]

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@Jpmack29 wrote:

Yeah, I was thinking of putting 2500 or 5000 down with my card if I could

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I would call the dealership just to confirm, I kinda doubt they would have a problem with that. I have used my cc for downpayment before without issues.

best of luck!

[SamsungHDTV]

If dealerships accept credit cards as most big dealerships do, they are suppose to accept them without restriction. However, they don't like to because transaction costs are high. With that being said, it depends on the dealership. If you push hard enough, they will let you.

[Jpmack29]

I called Carmax and I asked about this- the lady said no, because I cannot pay for credit with credit... Is this true? 

[elim]

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@Jpmack29 wrote:

I called Carmax and I asked about this- the lady said no, because I cannot pay for credit with credit... Is this true? 

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absolutely not true.    she was confused and thinking you were paying a loan with credit.

you are paying part of the car with credit and the rest of the car with different credit.

i paid $2500 down on car with CSP a few months ago.

[Jpmack29]

Good to know! I thought something seemed not right