Can you use a credit card to buy a car?

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Smerri
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Postby Smerri » Mon Jan 31, 2011 8:08 am

Funny this was brought up the other day at my work. I was talking about purchasing a motorcycle on my AmEx just for the points. A guy I work with mentioned where he bought his Harley they wouldn't allow any more than 3,000 on the credit card but another buddy mentioned that he purchased his GM truck on the business credit card for the miles. It may be a dealership by dealership but from one of my friends experiences, I can pretty much guarantee it's not illegal.


bubblebusteconomy
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Postby bubblebusteconomy » Thu Feb 03, 2011 2:42 am

This conversation is the most disgusting I have seen on here yet.
Cards: NONE!

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Elliot Castro
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Postby Elliot Castro » Thu Feb 03, 2011 11:46 am

It gets more interesting when we branch off into trying to pay off one credit card, with another credit card :P

Yes, a lot of people try to find ways to do that.

jwired
 
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Postby jwired » Fri Feb 04, 2011 5:47 pm

I thought of something. I read on here that most business credit cards don't report to personal credit. Would that solve the problem of using a high amount of a credit line to buy a car. Like if I bought a $18,000 car and had a $20,000 limit it wouldn't mess up my credit if I put it on a business card. Would that be an accurate assessment?

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Elliot Castro
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Postby Elliot Castro » Fri Feb 11, 2011 3:24 am

What if I said using a credit card was the only way I could buy the car. Would a dealer make an exception for that?


I would think this would make most dealers run for the hills.

daviddunn
 
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Postby daviddunn » Thu Mar 17, 2011 4:13 pm

That review is for the AMEX car buying service, which is completely different than the AMEX auto purchase program (which is only available in Texas and New York). AMEX states the following for the auto purchase program:

"Make your car purchase easy and rewarding, with a payment option that won’t cost you anything extra. Now you can pay for your car–in part or in full–with any American Express® Card."

I.E. it is an agreement with only a few dealerships in the country to allow the full purchase price of the car to be charged to an AMEX card.

gbc1
 
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Postby gbc1 » Wed Apr 27, 2011 7:53 pm

i just purchased a car and they told me i could only put 2000 on the card and the rest in cashier check

PeachLady
 
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Law???

Postby PeachLady » Sat Mar 21, 2015 11:32 am

Mogul of Pineapples wrote:That dealer has got to be lying. That's probably his go to line to get out of accepting high credit card charges.


because there isn't a law or that it is tied to drug trafficking???

I was just told that there is a law limiting the amount charged on a credit card to $5,000.00.

daniel2304
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Postby daniel2304 » Mon Mar 23, 2015 11:26 am

bubblebusteconomy wrote:This conversation is the most disgusting I have seen on here yet.


Why is it disgusting?
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

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Pete838
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Postby Pete838 » Tue Mar 24, 2015 6:40 am

PeachLady wrote:because there isn't a law or that it is tied to drug trafficking???

I was just told that there is a law limiting the amount charged on a credit card to $5,000.00.


No way. If I want to fly my family to Europe (or wherever) in first class it costs $4k-6 per ticket. It pretty much negates the point of a high limit card if my transactions are arbitrarily limited.

Ever pay for repairs to a European sports car? It's super easy to drop more than $5k and they just take your card and smile.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
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