Buying a car on credit card?
 

Has anyone ever paid for an entire car on a credit card or is anyone planning to? Do dealers even accept credit card to pay for downpayment or the entire car (after all, there's usually a processing fee)?

I only ask because the cash back on such a large amount would be awesome. Even just 1% back would be $270 back on $27,000. :drool: Of course, this is only worth it if you can pay it back before your next statement, assuming that you have the money on hand to buy it outright. Also assuming your credit limit is high enough.

Any experience in this at all?

Hmmm good idea im gonna ask my dealer since i get very good points with American Express its a charge card so there should be no problem.

I know some dealers set a limit on how much you can pay because of the fees they get charged with. I know in texas its illegal for them to charge you extra for using a credit card.

Didn't pay full with my CC. Only a 3k DP.

i'd be very surprised if a dealer let you pay off the full amount on credit card. the merchant fees would be outrageous.

I've paid my downpayment using my CC in the past. Gotta love cash back.

Read your cashback rules first. Some have restrictions/exclusions. After that ask your dealer.

I did it years ago when I bought my '83 VW GTI, but that was used and only about $2k. I have looked into it since then from time to time, and usually if the dealer would accept total or partial payment for a car, they'd want the 2%-3% fees they pay for accepting credit cards or no deal. That's understandable I guess.

I'll probably be trading our Forester XT in on my BRZ as well as some cash I've saved up, and if the balance is less than $7-8k I may just put it on my Visa instead of taking out a 12-18 month loan to simplify things.

I'd be very careful... Just remember that "the house always wins"

Aside from using credit car to purchase a car, why you don't try to apply a car loan which is now suitable for car buyers to afford to buy car that they want.