just wondering can we use credit card to pay off the car??
i am getting my tC in a week and i want to use credit card to pay my tC so i can earn some rewards
is that possible???

 

usually not.

 

The reason most dealers don't allow it is because retailers pay a percentage (% varies based upon the retailers hx and type of card) of each sale to the credit card company for the privilege of being able to accept their card. The dealer would pay the credit card company about $300.00 if a customer used a card. They have to make that up somewhere.

I have a friend who wanted to use his AmEx to buy a Toyota Sequoia. They allowed him to drive it home to pick up his check book instead.

 

They wouldn't let my parents use their Discover card to pay for either of our tC's.

 

Yeah and lots of CC companies usually offer seperate auto loans.

I think AMEX has that e-loan program which is for cars. When my parents bought their echo though they went through a loan with bank of america.

 

i downed $9,000 cash and used a credit card for the other $12,000 on 3.9% APR til its paid off

 

maybe i should go to ur dealer to buy my tC since we live so close...haha

 

mmm.... dealer allowed me to use the cc to put $ to reserve the car ($500), and at time of final purchase, another $1000.

 

It would be awesome if they would let you use a Credit Card. It would be one of the few ways to get a discount if your card gives you cash back.

 

Nothing like having to make 2 $400 a month payments, plus insurance. Plus the interest rate on most cards is'nt exactly prime.

 

Yeah, I'm financing off of Toyota, and I can only mail checks in every month or go online and enter in my bank account. I tried the whole credit card thing. Impossible.

 

If you're talking about payment at the dealership, I put $500 on my AMEX for the deposit and another $2500 when I picked up the car. $3000 was their limit on credit cards, but they informed me that it was entirely at their discretion. The rest was put on a check. Otherwise, monthly payments can only be made by checks (through mail) or your bank account (through the internet).

 

I made a 1200 down payment on my credit card (debit card)

 

If you have an AMEX black you can, I know this because the dealership my mom bought her car at told me that is the only card they would except. I do know a lot of dealers will let you put 1-3k on it, it depends the dealer.

 

Some credit cards can give you a check. The amount would be up to your cc limit. Then you can deposit that check and use it to pay for your car. Some CC even offer 0% apr for a year.

 

I put $2500 down when I picked up my car. The plan was to put it on Discover for obvious reasons.
When we were filling out the paperwork, they told me that they couldn't allow more than $1000 to go to a credit card (any card, not just mine).
They let me take the car with just the $1000 on my card, but I had to sign a promisory note stating that I would have a check for the other $1500 to them within 24 hours...

Of course, rules like that may differ by dealer...

 

my dealer said the max was $5k on credit card

 

show up at any dealer with a black AMEX and they will certainly welcome with open arms.

 

I've heard of people buying cars with AMEX, not just the Centurion/Black

Obviously, if you have one of those, you surely wouldn't be looking at a tC!

 

Anywhere with that thing man.. the guy at the rolex shop would open the whole case for you