Car Dealerships accepting AMEX

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
20 posts
rockyrock
Centurion Member
Centurion Member
 
Posts: 803
Joined: Thu Mar 21, 2013 6:06 am
Location: Ventura, CA

Postby rockyrock » Mon Apr 14, 2014 9:24 am

FastSRT8 wrote:From personal experience, all cc purchases are usually capped at $5k


Hey FAST, next time you buy a car you may want to check out the Amex car buying service. They claim some dealers are willing to accept your Amex card for the entire purchase. Sounds right up your alley.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC


mrow
Platinum Member
Platinum Member
 
Posts: 85
Joined: Sun Apr 06, 2014 9:13 pm
Location: Wilmington, DE

Postby mrow » Mon Apr 14, 2014 3:14 pm

I put an $18K down payment on my Platinum card at the dealership. As someone else mentioned they said they had a $5K cap on cards but I told them I didn't come with a check book so if they wanted to get paid they had to take it. They did.

luvbullmarkets
Centurion Member
Centurion Member
 
Posts: 241
Joined: Thu Apr 21, 2011 1:02 am
Location: TPC Stonebrae

Postby luvbullmarkets » Mon Apr 14, 2014 4:37 pm

Keep in mind AMEX charges the highest processing fees for merchants. They also tend to keep transactions pending the longest. This is why many small "mom and pop" merchants do not accept AMEX.
Amex EveryDay, Amex BCE , Barclaycard Arrival+ WEMC, CSP Visa Signature, Discover it, Wells Fargo Propel 365 Amex

"Attack this day with a level of enthusiasm unknown to mankind." - Jack Harbaugh

benhollberg
Centurion Member
Centurion Member
 
Posts: 353
Joined: Mon Apr 29, 2013 6:51 pm
Location: Salt Lake City

Postby benhollberg » Mon Apr 14, 2014 5:24 pm

PlatinumAMEX94 wrote:Of course dealerships can take credit cards, how are all those service payments taken care of? Most dealerships don't want to pay 5% of the bill JUST to take your AmEx card. While most people have the impression that AmEx makes all of its money in annual fees, remember they collect 5% of EVERYTHING. 5% of a car is a lot.


AMEX doesn't take 5% and I'm not sure where you got that number. I have a merchant account through my own business and don't pay near 5%. Also the restaurant I work at doesn't pay 5% for AMEX, I know that for a fact.
American Express Platinum Card
American Express TrueEarnings Card from Costco
Marriott Rewards Premier Visa Signature Card
Chase Sapphire Preferred World MasterCard
Discover It

mrow
Platinum Member
Platinum Member
 
Posts: 85
Joined: Sun Apr 06, 2014 9:13 pm
Location: Wilmington, DE

Postby mrow » Mon Apr 14, 2014 6:35 pm

benhollberg wrote:AMEX doesn't take 5% and I'm not sure where you got that number. I have a merchant account through my own business and don't pay near 5%. Also the restaurant I work at doesn't pay 5% for AMEX, I know that for a fact.



Can't vouch for its accuracy but this breaks down the percentage taken by merchant type and 3.5% appears to be the most.

http://www.cardfellow.com/blog/american-express-discount-rate/

linuxmachine
Centurion Member
Centurion Member
 
Posts: 309
Joined: Thu Feb 27, 2014 11:10 pm
Location: los angeles

Postby linuxmachine » Mon Apr 14, 2014 7:52 pm

I know a few buddies, and they gripe about Amex swipes the most at their stores. they range from 3~4.5% on the charge cards.

thom02099
Centurion Member
Centurion Member
 
Posts: 467
Joined: Sat Apr 13, 2013 7:49 pm
Location: Colorado, USA

Postby thom02099 » Mon Apr 14, 2014 8:15 pm

Vandalized2 wrote:Has any one had experience dealing with a dealership concerning your down payment being on an American Express Card?
Is this generally accepted or due they not allow it?
I am curious because in the next <6 MTHS I will be in the market for a new car and wouldn't mind putting 3-5k on my AMEX GOLD Card since I will already have the cash in toe.
Any help on this matter would be appreciated!

Have a good day everyone!


Others have given you some good responses. I can only add that I've read on other forums where an entire purchase has been put on an AMEX card, to the tune of $20-50K, so it can be done. In these cases the cars were Beemers and Benzes. Much depends on the car and the dealership. If they want your business, they'll do whatever it takes.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

JoDa
Centurion Member
Centurion Member
 
Posts: 235
Joined: Tue Mar 12, 2013 10:10 pm
Location: United States

Postby JoDa » Mon Apr 14, 2014 8:20 pm

I bought my last car in 2006, and even then the dealership took credit cards for down payments. The finance manager excused himself while I looked over the paperwork to process one. What brands they take and how much they let you charge may vary, but it seems a very normal practice. $3-5K seems well within reasonable, as that sounds like your typical down payment.
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K

mrow
Platinum Member
Platinum Member
 
Posts: 85
Joined: Sun Apr 06, 2014 9:13 pm
Location: Wilmington, DE

Postby mrow » Mon Apr 14, 2014 8:45 pm

thom02099 wrote:Others have given you some good responses. I can only add that I've read on other forums where an entire purchase has been put on an AMEX card, to the tune of $20-50K, so it can be done. In these cases the cars were Beemers and Benzes. Much depends on the car and the dealership. If they want your business, they'll do whatever it takes.


The dealer that let me make an $18K down payment on my Platinum card was a BMW dealership that my family has done business with for years. Those two factors are likely why they waved the card amount limit for me.

User avatar
FastSRT8
Centurion Member
Centurion Member
 
Posts: 1454
Joined: Thu Apr 19, 2012 1:32 pm
Location: Canada

Postby FastSRT8 » Tue Apr 15, 2014 1:11 am

rockyrock wrote:Hey FAST, next time you buy a car you may want to check out the Amex car buying service. They claim some dealers are willing to accept your Amex card for the entire purchase. Sounds right up your alley.


Thanks for the tip. I think I will look into this.
Carpe diem quam minimum credula postero!



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests