Can You Use a Debit Card to Lease a Car or truck?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Can You Use a Debit Card to Lease a Car or truck?

Postby ncl » Tue Jul 26, 2011 12:29 am

It's my question. I don't know what else to write in the details section ;)

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Postby DarkLabel » Tue Jul 26, 2011 5:00 pm

I'm not sure if I understand the question?

You can use it for the down payment, to pay the monthly lease or pay it full with the debit card (most likely not due to the $7,500 spending limit, a check may be necessary).

Leases is basically a bank letting you borrow the car and you're paying a monthly payment to the bank for that right since the moment a car leaves the lot, it loses value. The bank also collects interest and profit for letting you borrow the money.

If you mean to rent a car for a week then it depends, some places do, but most usually don't. Credit cards are the norm when it comes to renting a car however you can pay for it with debit cards. Some credit cards also offer insurance free when you pay for it with it (such as Citi Forward).

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