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Posted: 5/3/2009 7:48:19 AM EDT
[Last Edit: 5/3/2009 8:03:50 AM EDT by MTUSA]
I have available 0% for 12 months on a Visa. (will pay it off in 12 months)

The seller says I can use it to purchase the car.
When charging a car, does the title go to me or are the Visa folks the lien holder?
Link Posted: 5/3/2009 7:49:38 AM EDT
done it a couple times
title to you
no lien holder on unsecured debt
Link Posted: 5/3/2009 8:07:29 AM EDT
Most delerships won't do this and not just because they have to take a hit

by taking the card.  If you pay with a credit card and then get buyers remorse

within a short period of time you can return it and make up a BS story to

your cc company and have the charge reversed. Then the dealer is stuck

with a "Used" car as the title work has been done. It's much more difficult

to unwind a finance deal..
Link Posted: 5/3/2009 8:10:57 AM EDT
I've done it and so has my brother.

On my last two cars I just wrote checks.





Bill
Link Posted: 5/3/2009 8:12:25 AM EDT
Originally Posted By MTUSA:
I have available 0% for 12 months on a Visa. (will pay it off in 12 months)

The seller says I can use it to purchase the car.
When charging a car, does the title go to me or are the Visa folks the lien holder?


As others have mentioned - it's unsecured debt, you get the title.  Try to do it on a credit card where you get some benefits like frequent flyer miles or something.
Link Posted: 5/3/2009 8:14:09 AM EDT
On new cars, many dealers (even high end like Porsche, MB and the like) won't let you put more then $1500 on a card.

Sometimes they'll let me put $5000.00 down on a $150,000 car but they know what I'm trying to do....get the AMEX reward points, as I pay cash anyway.

And it ain't gonna happen.

They've figured it out!
Link Posted: 5/3/2009 8:18:56 AM EDT
I tried to buy a Tacoma with my Discover Card. Delaership said only up to $5k could be used on a credit card per vehicle..

So, I put $5k on the card and paid the rest cash.

Dealer said the card fees cost them too much and that was the reason for the limit. I always buy through fleet so the dealer is only making about $500. I guess I understand their reasoning for the limit.
Link Posted: 5/3/2009 8:18:57 AM EDT
Originally Posted By Stealth52650:
Most delerships won't do this and not just because they have to take a hit
by taking the card.  If you pay with a credit card and then get buyers remorse
within a short period of time you can return it and make up a BS story to
your cc company and have the charge reversed. Then the dealer is stuck
with a "Used" car as the title work has been done. It's much more difficult
to unwind a finance deal..


you press um  hard enough they will
I sold MCs we would not do it as a rule and push real hard about it but if it came down to a walk out or a CC we would do it
but I agree to the OP you should just get one of those convenience checks from the CC company they may charge you a $50 fee but it will make the transaction go smoother

also watch out the will try hard to convince you to finance and then just pay it off immediately  with your CC
which if you can get a better deal because of their kickbacks from the finance company it might be a a better deal

however the reason they like to finance as they can sell you add ons as only$5-20 extra a month but it can  add $1000s to the loan

Link Posted: 5/3/2009 8:34:10 AM EDT
[Last Edit: 5/3/2009 8:35:25 AM EDT by MTUSA]
The Ford dealer cheerfully told me I can use it (up to full amount of car) but they will pass the 1% card fee hit to me.
No sweat, this card pays 1% cash back on purchases so it will wash out the card usage fee.
Its interest free money and it will be paid off in 10-12 months.
EZ money gang. Now they seller must accept my lowball offer
Link Posted: 5/3/2009 8:57:56 AM EDT
Credit card interest rates are awful. Only way it would work is if you pay it off immediately.
Link Posted: 5/3/2009 9:16:52 AM EDT



Originally Posted By TexasLoneGunman:


Credit card interest rates are awful. Only way it would work is if you pay it off immediately.


not always. i've seen numerous incentive and promotional offers which would offer better terms than typical auto loan from credit union, bank, or even a heloc. just depends on the person' credit history and limit.







 


Link Posted: 5/3/2009 9:41:51 AM EDT
The only thing I would add is be sure the CC company isn't charging a fee up front. Sometimes they charge up to 3% on these promos

Link Posted: 5/3/2009 10:14:36 AM EDT
Call from girlfriend - last time I wanted to buy a truck, dealer wouldn't sell to me because I was a woman.

Me:  Dress in your oldest clothes.

We go down to buy her a second truck.  Time comes to pay.  She holds up card.  Dealer says- we don't accept credit cards because we get charged.

Girlfriend - It is an international debit/credit card.

Dealer - ok.

Truck bought for $28,000 (and is paid off when the card bill comes in later)

We walk out.  Me- I've never heard of a debit/credit card.  She-neither have I.  I needed 28,000 points!
Link Posted: 5/3/2009 10:17:32 AM EDT
Originally Posted By MTUSA:
The Ford dealer cheerfully told me I can use it (up to full amount of car) but they will pass the 1% card fee hit to me.
No sweat, this card pays 1% cash back on purchases so it will wash out the card usage fee.
Its interest free money and it will be paid off in 10-12 months.
EZ money gang. Now they seller must accept my lowball offer


You could stick it to them as they are not supposed to be passing on merchant fees.
Link Posted: 5/3/2009 10:35:19 AM EDT
Originally Posted By bcochran:
Call from girlfriend - last time I wanted to buy a truck, dealer wouldn't sell to me because I was a woman.

Me:  Dress in your oldest clothes.

We go down to buy her a second truck.  Time comes to pay.  She holds up card.  Dealer says- we don't accept credit cards because we get charged.

Girlfriend - It is an international debit/credit card.

Dealer - ok.

Truck bought for $28,000 (and is paid off when the card bill comes in later)

We walk out.  Me- I've never heard of a debit/credit card.  She-neither have I.  I needed 28,000 points!



this hurt my head
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