Car Dealerships accepting AMEX

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Vandalized2
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Car Dealerships accepting AMEX

Postby Vandalized2 » Sun Apr 13, 2014 6:32 pm

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!


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Postby MemberSince99 » Sun Apr 13, 2014 6:40 pm

As the buyer I'd say you have control in this situation - you have the cash and are free to walk out the door at any time with it. Tell them they can either take the downpayment that way, or you'll just be making your purchase elsewhere. If they hem and haw or just flat out refuse, get up, walk through the door and go somewhere else. If they are fool enough to let you walk they don't deserve the sale.


I put a downpayment on a car using a credit card it was no issue. It was less money but even 3 to 5k should be acceptable. Again they may resent their cost, so let them determine if it they want that sale or not - if not there is PLENTY of competition.

Vandalized2
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Postby Vandalized2 » Sun Apr 13, 2014 6:48 pm

Oh absolutely I agree! Money is money and they shouldn't scoff at the notion that they are getting money up front all-be-it from a credit card. Plenty of competition out there as you stated, I would not be hesitant from just walking if they hem and haw. Just curious as to what the response might be .

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Postby whit » Sun Apr 13, 2014 7:02 pm

Let's say the car is manufactured priced at 30k, I would see how much I can knock off of that

If it's a good considerable amount I wouldn't mind paying visa/mc for down payment or even cash, but if they aren't willing to budge on that I'm not willing to budge on the payment method

If it's cheap enough I can get away with having that cashback and purchase on my card

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Postby mdl28 » Sun Apr 13, 2014 9:22 pm

I put my down payment of my Amex gold card. They had no issues with it. But I'm sure different dealers have their certain policies. I'd just ask before hand so you can make your plans.
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Postby rockyrock » Sun Apr 13, 2014 11:02 pm

I'm pretty sure if you use the Amex car buying service they will let you make a min of $2k down payment with your Amex card.

I just put $5k down with my MC two months ago so dealers will take plastic, up to you to make sure it's plastic you want to use.

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Postby adam » Sun Apr 13, 2014 11:51 pm

I was limited to 4k by dealership on my CSP when I purchased my car…did this to easily meet promotion.
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Postby FastSRT8 » Mon Apr 14, 2014 12:15 am

From personal experience, all cc purchases are usually capped at $5k
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Postby Omarperez48 » Mon Apr 14, 2014 2:22 am

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!


I work at a dealership and I'm actually a finance manager and the reasons why dealerships may not accept that is actually quite simple. The dealership is actually the one paying for your rewards they past to charge your card that's why they give you a 3-5k limit as to how much you can charge a credit card. If you didn't they would even let you pay your new car using a credit card. Now if they're making enough money on your transaction they'll have no problem letting you use your card. Hope this helped ✌️
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Mon Apr 14, 2014 8:46 am

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.
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