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Credit Card Car Downpayment

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Anonymous
Not applicable

Credit Card Car Downpayment

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?

Message 1 of 30
29 REPLIES 29
ksantangelo23
Frequent Contributor

Re: Credit Card Car Downpayment


@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?


Yes, AMEX has specialty programs with many dealerships allowing this Smiley Happy I used my BCP for a $2,500 partial downpayment. Rest was cash.

 

https://amexnetwork.truecar.com/promo1.html?promo_id=content-viewer-carpurchase.

 

Some dealerships allow full funding by credit card, which is... horrifying, to say the least. Smiley Indifferent

AMEX Hilton Ascend: $55,000 | Chase Sapphire Reserve: $30,000 | PNC Points: $17,500 | AMEX BCE (AU): $18,000 | AMEX BCP: $15,000 | US Bank Cash+ $15,000 | AMEX Business Prime: $14,000 | AMEX SimplyCash: $12,000 | Capital One QS: $13,500 | Chase Business Ink: $12,000 | PNC Everyday (AU): $12,000 | JCPenny Store Card: $10,500 | Chase Slate: $9,400 | Capital One QS: $6,500 | (2nd) US Bank Cash+ (2nd): $7,500 | Discover IT: $6,000 | Chase Freedom: $3,500 | Auto Lease: $0/$21,000 | Auto Loan: $0/$18,000 |

TU: 818 EX: 809 EQ: 801

Message 2 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@ksantangelo23 wrote:

@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?


Yes, AMEX has specialty programs with many dealerships allowing this Smiley Happy I used my BCP for a $2,500 partial downpayment. Rest was cash.

 

https://amexnetwork.truecar.com/promo1.html?promo_id=content-viewer-carpurchase.

 

Some dealerships allow full funding by credit card, which is... horrifying, to say the least. Smiley Indifferent


Awesome good to know! I went in expecting to just pay cash but thought I might as well give it a try. Although I don't think I would really want to put an entire car purchase on a credit card lol...

 

Edit: The dealer I purchased from wasn't on the Amex website although they took it so that's nice. 

Message 3 of 30
longtime_lurker
Valued Contributor

Re: Credit Card Car Downpayment


@ksantangelo23 wrote:

@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?


Yes, AMEX has specialty programs with many dealerships allowing this Smiley Happy I used my BCP for a $2,500 partial downpayment. Rest was cash.

 

https://amexnetwork.truecar.com/promo1.html?promo_id=content-viewer-carpurchase.

 

Some dealerships allow full funding by credit card, which is... horrifying, to say the least. Smiley Indifferent


Or awesome...depending on how you look at it Smiley Wink

 

40,000 car.... 800 back on a DC. Wonder how a loan would work...I'm guessing it wouldn't. Damn! But if you had 40k laying around, I suppose you don't need a bank loan. I don't see anything wrong with running a downpayment on a CC - as long as you were smart enough not to make a bigger down payment than you can afford

Current cards: MSUFCU Platinum, Amex PRG, Amex Surpass, Amex BCE, Citi Prestige, Citi Double Cash, Citi Premier, US Bank Cash +, Huntington Voice, AAviator, Sallie Mae, Discover IT, Chase Freedom TU:753 EQ Enhanced: 758
Message 4 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@longtime_lurker wrote:

@ksantangelo23 wrote:

@Anonymous wrote:

So yesterday I spent several hours negotiating the price on a new 2015 Subaru. I ended up with everything I wanted at a price better than I expected to be able to get. When they asked for a debit card to put the $5k downpayment on, I asked if they would take my Amex PRG. They took it with no issues at all. Honestly I was quite surprised they would take a credit card, anyone else have any similar experience with any car?


Yes, AMEX has specialty programs with many dealerships allowing this Smiley Happy I used my BCP for a $2,500 partial downpayment. Rest was cash.

 

https://amexnetwork.truecar.com/promo1.html?promo_id=content-viewer-carpurchase.

 

Some dealerships allow full funding by credit card, which is... horrifying, to say the least. Smiley Indifferent


Or awesome...depending on how you look at it Smiley Wink

 

40,000 car.... 800 back on a DC. Wonder how a loan would work...I'm guessing it wouldn't. Damn! But if you had 40k laying around, I suppose you don't need a bank loan. I don't see anything wrong with running a downpayment on a CC - as long as you were smart enough not to make a bigger down payment than you can afford


Right it is neat indeed. I went in ready to spend the cash so I only put a downpayment I could comfortably afford but thought "well might as well ask if they take the CC right?". Then I just pay it off as soon as the charge posts.

Message 5 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment

First of all I adore Subaru! Congrats!!

Thats good to know that you can put a downpayment on a car with a credit card. 

Message 6 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@Anonymous wrote:

First of all I adore Subaru! Congrats!!

Thats good to know that you can put a downpayment on a car with a credit card. 


I'm glad to hear that! I hear nothing but great things about Subaru and this is my first new car purchase so I am excited! 

 

Just thought I'd let everyone know the story and see how normal this is for dealers to take credit cards. 

Message 7 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@Anonymous wrote:

@Anonymous wrote:

First of all I adore Subaru! Congrats!!

Thats good to know that you can put a downpayment on a car with a credit card. 


I'm glad to hear that! I hear nothing but great things about Subaru and this is my first new car purchase so I am excited! 

 

Just thought I'd let everyone know the story and see how normal this is for dealers to take credit cards. 


Im on my 3rd Subaru and they have been amazing each and every time!

Message 8 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

First of all I adore Subaru! Congrats!!

Thats good to know that you can put a downpayment on a car with a credit card. 


I'm glad to hear that! I hear nothing but great things about Subaru and this is my first new car purchase so I am excited! 

 

Just thought I'd let everyone know the story and see how normal this is for dealers to take credit cards. 


Im on my 3rd Subaru and they have been amazing each and every time!


They seem so underrated! I don't hear about them much but what I do hear is nothing but praise. I guess I'll find out soon enough for myself Smiley Happy

Message 9 of 30
Anonymous
Not applicable

Re: Credit Card Car Downpayment


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

First of all I adore Subaru! Congrats!!

Thats good to know that you can put a downpayment on a car with a credit card. 


I'm glad to hear that! I hear nothing but great things about Subaru and this is my first new car purchase so I am excited! 

 

Just thought I'd let everyone know the story and see how normal this is for dealers to take credit cards. 


Im on my 3rd Subaru and they have been amazing each and every time!


They seem so underrated! I don't hear about them much but what I do hear is nothing but praise. I guess I'll find out soon enough for myself Smiley Happy


My income has gone up recently and I could afford a Lexus now which was always my dream car growing up. I guess I equated it with success but now that I have been driving Subaru so long I really dont want anything else. #subaruforlife

Message 10 of 30
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