Buying car with credit card...anyone?

Do dealers accept credit cards when buying an automobile? I'd think so, but wondering if anyone here has done it.

Reason for asking is I'll be paying off upon 1st payment, so don't see no reason to have credit pulled and go through financing hassle (time & paperwork), even with my very good credit score. Not writing a check, since the funds are in an online savings account, and that takes a few days to transfer to my checking, so hoping to deal on car, charge to card, then pay off when statement comes.

 

Most places will not some will take a small amount for a downpayment but they don't want to pay the fees. When I bought my RV I had the same thought as you their limit was $4,000 I got them to go up to $7,000 for my down payment.

 

We will accept credit cards for large transactions, but charge 3.5%. Ultimately, that's what we get nicked from the credit card processing fees on a large hit like that.

 

If your credit is good enough, most dealers will allow you take the car for a few days based on your credit alone. Maybe used that time to arrange for your online account to transfer the funds?

 

I think on average the charge to the business owner is around 3% on cost of sale depending on the card and what kind of deal the business worked out with the CC company. If you were willing to pay that fee I'm sure they would have no problem but why pay 3% more when you don't have to.


Or what KMC said...

 

We do not allow it and most if not all I've ever seen do not either. Unless you want to pay the fee, which would be stupid.

 

My Mercedes dealer allows up to $7,500 on a card with no fees.

 

Most dealers around here are between $2.5K-$5K with no fees.

 

So find a 7500.00 car...then swipe!!

 

I put $50 down once on a truck.....when it was prepped I paid with a check

 

Dunno but back in the day my buddy bought a brand new CBR929 on a credit card and then paid it off 1st payment. Same deal as the OP, didn't wanna deal with the loan process hassle

 

Most dealers would rather hold onto a check for a couple extra days. Very few will take a card unless you are buying a new Maserati in Miami.

 

I bought my first car on a credit card... Went in to get a loan, noticed the signs saying they were running a promotion on cash advances on credit cards, and it was like 8% better of a rate than I was getting on my loan( I was young, first car, no credit). Opened up the card with a 3,000 limit and immediately maxed it out.... It actually all worked out pretty decently.

 

North Texas, 2 years ago. One small used-car lot had no issue; others wanted a limit on how much was charged no-fee.

Some dealers (cough, 'Crest Nissan', cough) were complete asshats about it, for a $8900 car for the daughter. I gave up about 20 minutes into the finance office, asked for all the paper back, had some guy purporting to be the GM swearing at me, dropping f-bombs - loudly.

 

Thanks for the replies guys! Didn't think of the "fee" they may charge. F that! The car I'm looking at is 2-3 hours away, so I'd be driving my truck to tow it back home if the car checks out okay.

I was already pre-approved with my credit union, but it expired before I could find a car. I'll just run back by there in the morning and have them pre-approve me again. They prolly won't even run a credit check again, since this was recent, whereas a dealer will have to. As y'all know too many credit checks in a short time can lower your score a tad. My credit is very good, and I'm nitpicky about it!

Thanks again y'all!

 

We won't sell an entire car on credit card for the simple fact you can contest the charge and that's a hassle.

 

Yeah.... I can understand that with some people.

 

It's a little more than that.

 

I bought my bike (used) with a credit card. A 0% interest for 12 months credit card. Paid it off in about 6 months.

 

I put my Oldest Daughters MX-5 on AMEX.... 18K....