Buying a Car on Amex Gold

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brnsnd
 
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Buying a Car on Amex Gold

Postby brnsnd » Sat Feb 28, 2015 3:22 pm

Hi obviously new member here but occationally searched this fourm for help before.

I know this question has been asked before but just wanted an updated answer. I was using the Amex auto program and on the site it mentioned that the Austin BMW dealership would accept my Amex for the full price of the car. When I called ahead to ask if I could put the M4 on the card I got a firm no. Has anyone had better luck with this anywhere?


deathrider
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Postby deathrider » Sat Feb 28, 2015 9:02 pm

I tried it before but was turned down because of the fees Amex charges the dealer
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Postby thom02099 » Sun Mar 01, 2015 1:34 pm

brnsnd wrote:Hi obviously new member here but occationally searched this fourm for help before.

I know this question has been asked before but just wanted an updated answer. I was using the Amex auto program and on the site it mentioned that the Austin BMW dealership would accept my Amex for the full price of the car. When I called ahead to ask if I could put the M4 on the card I got a firm no. Has anyone had better luck with this anywhere?


Anecdotal reports on forums, notably MyFICO, indicate that it can be done and has been done. Beemers, Audis, and Mercedes Benz seem to be popular purchases. Seems if you are using a program from AMEX and at a participating dealership, the only limitation would be AMEX's internal limit, not the dealership. If a participating dealership refused to honour the card for a purchase, a phone call to AMEX may be in order.
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Postby MB131174 » Sun Mar 01, 2015 4:08 pm

I purchased a new vehicle on Friday. I put $1,500 down and the dealer allowed up to $1,000 on a credit card, as long as it wasn't AmEx. Figures.
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Jarrodpd
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Postby Jarrodpd » Mon Mar 02, 2015 9:10 am

Thursday I was at a ford dealer with a friend and she bought a car, she completely forgot to get a money order or cash out to put down. So I asked the dealer if they accepted Amex, and they said they didn't accept any credit card because of people calling their card company and disputing the charge. It didn't really make any sense that they accepted her debit card which I believe you can also dispute charges on as well.
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Postby jcarte29 » Mon Mar 02, 2015 9:46 am

As someone in the car business, I'll take anyone's money, but this just doesn't seem to be good business sense to buy the entire vehicle on an unsecured credit card. Down payment? Sure, happens all the time (my Dealership accepts VISA, MC, Discover and AMEX, up to 20k I know at least, cause I recently did that for a customer on a new Silverado).

But I just don't see the benefit of putting the *entire* vehicle purchase on your AMEX. I would love to understand the benefits. (Because I only see drawbacks lol).
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jumbo
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Postby jumbo » Mon Mar 02, 2015 2:54 pm

jcarte29 wrote:(Because I only see drawbacks lol).


And what would the drawbacks be? (considering the buyer has enough cash to pay off the balance after purchasing)
I am in the market for new car as well, so need to know.
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lobbythis
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Postby lobbythis » Mon Mar 02, 2015 2:57 pm

Yea...what drawbacks are there if the person PIF since it's a charge card???

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Postby augiedog » Mon Mar 02, 2015 4:31 pm

Jarrodpd wrote:Thursday I was at a ford dealer with a friend and she bought a car, she completely forgot to get a money order or cash out to put down. So I asked the dealer if they accepted Amex, and they said they didn't accept any credit card because of people calling their card company and disputing the charge. It didn't really make any sense that they accepted her debit card which I believe you can also dispute charges on as well.


I'm guessing dealerships just aren't willing to make any cuts to their prices, and many see the transaction fee on a credit card as possibly excessive..?
I was looking at a used car, and when the dealership said they didn't take credit cards, I immediately started negotiating the price down. After I didn't get very far, found out they didn't take checks, and told them to forget it.
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Jarrodpd
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Postby Jarrodpd » Mon Mar 02, 2015 6:36 pm

augiedog wrote:I'm guessing dealerships just aren't willing to make any cuts to their prices, and many see the transaction fee on a credit card as possibly excessive..?
I was looking at a used car, and when the dealership said they didn't take credit cards, I immediately started negotiating the price down. After I didn't get very far, found out they didn't take checks, and told them to forget it.


I wonder if they really think the majority of us are willing to go around with several $K willing to get robbed and lose it all. I work at a restaurant and this family came in one day after just coming from a bank to get $5/6K, apparently someone followed them and broke into their car and took all of it.
[size=80]USAA Secured Mastercard: $600 @9.9% APR

USAA Platinum Mastercard: $1500 @12.9% APR CLIed to $2500

American Express HHonors no AF: $2900 @17.24% APR CLIed to $8700

American Express Premier Rewards Gold: NPSL

American Express Platinum: NPSL



Exp: 721|Equ: 708|Tu: 729 (5th October 2014)[/size] | Exp: 743|Equ: 734|Tu: 743 (3rd December 2014)



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