Buying an used vehicle with credit card?

[muse017]

I'm looking to buy an used compct vehicle(fit, yaris etc) from dealership.
It would be nice if could charge whole amount to my credit card.
Has anyone done this type of deal before?
Is there a limit that dealership allows per transaction?
TIA

[Twin_Cam_Turbo]

$2000 limit is the norm for credit.

[speedog]

Plus if the dealership is paying 1.5-1.6% processing fees on credit card transactions, that would mean another $150-160 hit for them pon a $10,000 transaction. Amex - probably 3.5% processing fees.

[killramos]

I know as an example calgary BMW allowed 5000 on a card.

So it depends on the car.

[schocker]

Northwest Acura was letting me do whatever I waned so I did $4k, not sure how high I could have gone though.

[artieg30]

Kramer Mazda allowed me to put up to 10K on a used vehicle purchase when I bought a car from them 3yrs ago. They initially gave me the $2000 limit but when i told them it would take a week for me to move my money over to them they seemed to bend the rules. It also helped too that i was dealing specifically with the used car sales manager at the time.

[muse017]

I guess it's totally up to the dealership to accept it or not.

[roll_over]

When I bought my ruckus they only let me do $1500

[20incheyes]

My buddy has bought 3 Siennas fully charging to his amex at High River Toyota. Get those points!

[muse017]

Originally posted by 20incheyes
My buddy has bought 3 Siennas fully charging to his amex at High River Toyota. Get those points!

Exactly what I hope to do instead of paying with cash or draft.
I'm going to email dealerships and I'll post an update later on.

[revelations]

Originally posted by muse017
I'm looking to buy an used compct vehicle(fit, yaris etc) from dealership.
It would be nice if could charge whole amount to my credit card.
Has anyone done this type of deal before?
Is there a limit that dealership allows per transaction?
TIA

And then pay >20% interest? what?

The only time I did this was for a new bike (about 10k) ... with a line of interest CC that was 7%.

[pheoxs]

Originally posted by revelations


And then pay >20% interest? what?

The only time I did this was for a new bike (about 10k) ... with a line of interest CC that was 7%.

If it's the same price cash vs visa I'd rather pay with my visa and get points then pay it off fully. That being said most places you can probably get a better deal with cash.

[muse017]

Originally posted by revelations


And then pay >20% interest? what?

The only time I did this was for a new bike (about 10k) ... with a line of interest CC that was 7%.

I'm not looking to carry the balance, will get paid off right away.

[revelations]

Originally posted by muse017


I'm not looking to carry the balance, will get paid off right away.

Thats how ya do it !

[FullFledgedYYC]

It's possible to do the whole thing usually... but the dealership gets charged up the ass in transaction fees, usually a percentage of the amount paid.... so I don't think any dealer will be too eager to eat that huge fee.

[fayzed]

At KIA i was able to put a maximum of 5k down, I tried to do the same, pay by card to get points and then pay the card off the next day.

[Xtrema]

Last time I paid cash, $5K was max on CC.

[FixedGear]

Those points might seem nice when you get that new toaster oven in the mail, but you do know that the credit card companies are just needlessly leeching off the economy and driving up the cost of consumer goods everywhere. Consumers do not actually benefit from this, and in fact, they're much worse off. Credit card transaction fees should be illegal.

[jaylo]

placed 5,000 on initial deposit, then another 5,000 on pick up. This is from a BMW dealership in Edmonton

[A790]

Originally posted by revelations


And then pay >20% interest? what?

The only time I did this was for a new bike (about 10k) ... with a line of interest CC that was 7%.
I get 1% cash back on all transactions and don't ever carry a balance. I put our $25,000 destination wedding on the card and paid it off five minutes later. It's July and we're already due $600 in cash back... heh.

[pheoxs]

Originally posted by FixedGear
Those points might seem nice when you get that new toaster oven in the mail, but you do know that the credit card companies are just needlessly leeching off the economy and driving up the cost of consumer goods everywhere. Consumers do not actually benefit from this, and in fact, they're much worse off. Credit card transaction fees should be illegal.

True or not at the end of the day I pay the same amount for an item whether I pay cash or visa. But visa I can get cash back so why not.

[muse017]

Small Update

Ended up buying a 2012 Golf TDI from Davids Chevy in Airdrie.
Overall very nice guys(Geoff and GM) to deal with and got some pretty sweat deal.
On top of that, they also let me charge $12,000 on my credit card and rest in draft.

[Redlyne_mr2]

If the dealer let you put the entire cost of the vehicle on your credit card you got a bad deal.

[muse017]

Originally posted by Redlyne_mr2
If the dealer let you put the entire cost of the vehicle on your credit card you got a bad deal.

Well..only 56% of it. Only similarly priced 12 GOLF TDI that I was able to find in Calgary area was at AutoMAXX :rofl: :rofl:

[Sugarphreak]

...

[Masked Bandit]

Originally posted by Sugarphreak


21,500$ Not too bad


But for 17K how does it stack up against this one?
http://www.kijiji.ca/v-cars-trucks/lethbridge/2012-volkswagen-golf-2-0-tdi-comfortline-55-mpg/1010120883?enableSearchNavigationFlag=true

Two year old car with 110,000 km...no thanks.

[Sugarphreak]

...

[ExtraSlow]

Still about a thousand hours of seat-time. But, if they've been keeping up the maintenence, it's not a big deal.

[muse017]

Mine had 47,000km with clean car proof report
20,000+ gst and amvic fee

[Sugarphreak]

...

[slammedfc]

Originally posted by Sugarphreak


Isn't much for a Diesel really, you can probably bet those were highway km's. You are not racking up that kind of Km in the city

but just imagine how many farts the seats have ingested already!!

[SkiBum5.0]

Sounds like a good deal. For all others, I would consider dealer financing instead of credit card. Dealers get a "reserve" when you use their financing, and you can use that to get a better deal.

My latest car, the dealer came right out and offered half the reserve off the price of car if I used dealer financing instead of cash. The financing is open ended so can be paid off at anytime with the cash.

Just a thought for next time as a reserve on a $30,000 finance can be up to $2500 depending on the bank. If you're in a betting mood, take 10% finance rate (which loads up the reserve), then pay off after three months.

[muse017]

Open ended financing is something I never heard of in auto industry.
Well I'll try it on my next purchase.

[Zetsu]

I have sold a few trucks at my dealership to farmers who have used credit cards we just have to charge 2.98% on top of the price. These are usually quite large payments.