Buying a car on credit card? - Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community

SteelReign · 05-10-2012, 01:54 AM

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.

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?

track_warrior · 05-10-2012, 02:06 AM

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.

Giccin · 05-10-2012, 03:53 AM

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

ayau · 05-10-2012, 03:56 AM

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

r4m3n · 05-10-2012, 04:22 AM

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

dsgerbc · 05-10-2012, 12:45 PM

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

Miniata · 05-10-2012, 03:56 PM

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.

Kimsey47 · 05-10-2012, 04:23 PM

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

JennaB · 06-25-2012, 01:54 AM

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.

05-10-2012, 01:54 AM	#1
SteelReign Member Join Date: Mar 2011 Drives: 2009 Hyundai Sonata Location: FL, US Posts: 80 Thanks: 4 Thanked 7 Times in 3 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	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. 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? __________________ Visit my blog about car enthusiasm! http://theelitistenthusiast.blogspot.com/

05-10-2012, 02:06 AM	#2
track_warrior Track Junkie Join Date: Mar 2012 Drives: Faster than the Stig! Location: TX Posts: 1,338 Thanks: 530 Thanked 770 Times in 363 Posts Mentioned: 10 Post(s) Tagged: 0 Thread(s)	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. __________________ Compensating a heavy car with horsepower is like giving an alcoholic cocaine to sober him up...

05-10-2012, 03:53 AM	#3
Giccin (╯°□°）╯︵ ┻━┻ Join Date: Dec 2010 Drives: Yaris HBK, Audi 09' TTS<Had> Location: Orange County~~~ Posts: 5,162 Thanks: 4,345 Thanked 1,899 Times in 966 Posts Mentioned: 87 Post(s) Tagged: 1 Thread(s)	Didn't pay full with my CC. Only a 3k DP. __________________ I am the Ice Queen. Logic > Emotion ┬──┬◡ﾉ(° -°ﾉ) Yashio Factory Pink adds +10HP to anything. TOYOTA FT-86

05-10-2012, 04:23 PM	#8
Kimsey47 Senior Member Join Date: Mar 2012 Drives: 2016 STI DGM Location: Chattanooga, TN Posts: 1,875 Thanks: 1,189 Thanked 1,460 Times in 662 Posts Mentioned: 9 Post(s) Tagged: 0 Thread(s)	I'd be very careful... Just remember that "the house always wins" __________________ Subaru STI :

06-25-2012, 01:54 AM	#9
JennaB Junior Member Join Date: Jun 2012 Drives: Red Location: United Kingdom Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	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. __________________ Used Cars

05-10-2012, 03:56 AM	#4
ayau Senior Member Join Date: Nov 2011 Drives: Some rust bucket Location: Polar ice cap Posts: 3,058 Thanks: 312 Thanked 1,046 Times in 556 Posts Mentioned: 37 Post(s) Tagged: 0 Thread(s)	i'd be very surprised if a dealer let you pay off the full amount on credit card. the merchant fees would be outrageous.

05-10-2012, 12:45 PM	#6
dsgerbc Senior Member Join Date: Jan 2012 Drives: BRZ(sold), STI Location: A2, MI Posts: 1,915 Thanks: 176 Thanked 419 Times in 241 Posts Mentioned: 11 Post(s) Tagged: 0 Thread(s)	Read your cashback rules first. Some have restrictions/exclusions. After that ask your dealer.

05-10-2012, 03:56 PM	#7
Miniata Senior Member Join Date: Mar 2012 Drives: 13 BRZ - 90 Miata - 07 FXT -05 Mini Location: Ohio Posts: 546 Thanks: 6 Thanked 142 Times in 105 Posts Mentioned: 2 Post(s) Tagged: 0 Thread(s)	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.

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