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can anyone share any experience with going about this? i recently opened the AMEX plat a couple days ago and ran about 33-34k thru it before they asked for a payment so i sent 32k and am now thinking about getting (maybe financing) a car for 15-20k a while before first statement cuts(Feb 5)... dont really know how to go about the whole process, or if its even an option with most dealers.
all thoughts appreciated c:
It can be done, but most dealers won't allow it. Typical max they'll allow is about $3-4k. They don't want to pay the fees.
@elixerin wrote:can anyone share any experience with going about this? i recently opened the AMEX plat a couple days ago and ran about 33-34k thru it before they asked for a payment so i sent 32k and am now thinking about getting (maybe financing) a car for 15-20k a while before first statement cuts(Feb 5)... dont really know how to go about the whole process, or if its even an option with most dealers.
all thoughts appreciated c:
If they are sticking it to you, they will allow it.
Amex have a car buying program that will let you charge up to $2k or the whole car purchase depending on the dealership. If they are charging you the fee, it is not worth it. You are only getting 1 point per dollar on your Platinum card.
not sure about other dealerships but Honda allowed me to put 5k on my card...
I was able to put $5,000 on my credit card for both a BMW and a Porsche purchase in the past.
ironically i just put the down payment on my platinum yesterday. 5k, no fees, no issues
I know it can be done. My buddy paid for his Tesla Model S outright using his AMEX Platinum. Final cost was over 60k. Of course, he then turned around and paid AMEX immediately. Said he did it for the points.
@jbestman007 wrote:I know it can be done. My buddy paid for his Tesla Model S outright using his AMEX Platinum. Final cost was over 60k. Of course, he then turned around and paid AMEX immediately. Said he did it for the points.
I wonder if he got the best deal. Usually when you do, they won't give you anything else regarding discounts, including eating credit card fees, which is at least a discount to you equal to the point percentage you are getting. The other part of the "discount" in fees goes to the card companies.