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Posted: 5/3/2009 7:49:38 AM EDT
[#1]
done it a couple times
title to you no lien holder on unsecured debt |
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Posted: 5/3/2009 8:07:29 AM EDT
[#2]
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.. |
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Posted: 5/3/2009 8:10:57 AM EDT
[#3]
I've done it and so has my brother.
On my last two cars I just wrote checks. Bill |
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Posted: 5/3/2009 8:12:25 AM EDT
[#4]
Quoted:
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. |
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Posted: 5/3/2009 8:14:09 AM EDT
[#5]
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! |
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Posted: 5/3/2009 8:18:56 AM EDT
[#6]
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. |
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Posted: 5/3/2009 8:18:57 AM EDT
[#7]
Quoted:
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 |
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Posted: 5/3/2009 8:34:10 AM EDT
[#8]
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 
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Posted: 5/3/2009 8:57:56 AM EDT
[#9]
Credit card interest rates are awful. Only way it would work is if you pay it off immediately.
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Posted: 5/3/2009 9:16:52 AM EDT
[#10]
Quoted: 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. |
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Posted: 5/3/2009 9:41:51 AM EDT
[#11]
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
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Posted: 5/3/2009 10:14:36 AM EDT
[#12]
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! |
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Posted: 5/3/2009 10:17:32 AM EDT
[#13]
Quoted:
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. |
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Posted: 5/3/2009 10:35:19 AM EDT
[#14]
Quoted:
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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