Buying a new car. Deposit on cc for rewards?

[eeyoresmom]

I am looking at buying a new car and am going to put a $7,000 deposit down. Can I pay the deposit with my cc for the rewards?

 

[tvguy]

You can ask, but I believe most dealers won't take credit cards for a down payment.

 

[perditax]

They usually won't take an amount that high because the processing fee cuts deeply into their bottom line.

 

[kid-at-heart]

When I bought my car, the dealer allowed $3000. to be put on a CC. The rest had to be paid via cash or bank loan. Different dealers have different rules. I always use credit cards when possible, for points, for an additional record of the purchase and for the added protection some cards offer.

 

[HappyHappy]

Dealer let me put $5000 down but they knew I was willing to walk away. Doesn't hurt to ask.

 

[KarenAylwood]

We put $6,000 down and put it on a credit card. They had no issues and didn't question it. Paid it off right away and got the rewards. I'd put whatever max they allow!

 

[barbaraann]

I was entertaining doing this. However, it is only a good idea, if you immediately pay that credit card balance off. If not, what have you really saved?

 

[amcnj]

This does definitely vary by dealer. All you can do is ask and then put whatever they do allow on the card.

 

[scard192]

I put $4000 down on my last car on a credit card, only issue is there was a $2,000/day credit card limit so they did one on Saturday and one on Monday; but let me drive the car away on Saturday. I had the $$ in the bank so as soon as the charges hit my credit card I paid it off. easiest rewards I ever earned.

 

[CoP Luv]

We were only able to put $1500 down on the cc and that limit was set by the dealer.

 

[CalDisneyMomof2]

Yep. Definitely depends on the dealer. Last time I bought a car they looked at my like I was crazy for even asking. Like everyone does it I guess.

 

[luvmarypoppins]

We put our whole van on the card. We actually had a huge check from the ins. co. as our other van was totaled. My dh asked the dealer and they were fine with it but I think it had to be done in a couple transactions. My dh called and increased our credit line and said he was making a huge purchase etc.

They were charging us another kind of fee to get the used van we were buying ready. (dealer prep fee, I guess they do that around here) We just paid some of the cc fee the dealer was being charged so that was a wash as they erased the prep fee.

The dealer joked, what are you doing going on vacation with that. We said, kind of. We usually use our points for the Swan hotel.

 

[powellrj]

Our dealer had a limit of $5000 that could be put on a card.

 

[tink1970]

Definitely ask the dealer--when my ex and I bought DD's card both of us were allowed $5000. Definitely helps with points/minimum spend requirements, etc.

 

[Pooh2]

Our dealer allows $3,000 on the credit card.

 

[wendow]

We just had to buy a new car one week ago and they would not allow any of the down payment to be put on a cc. Only accessories...if I were buying those...which I wasn't.

 

[ctinct]

Definitely a ymmv kind of thing. I hadn't even thought to ask, but when I was putting down my deposit and planning on paying cash, the dealer actually asked me if I had a rewards card that I might want to use instead. They allowed $5000. I was actually grateful he suggested that, and just used my cash to pay off the card right away.

 

[eeyoresmom]

Thank you everyone.

 

[adisneyaunt]

5k limit at dealer , for us.

 

[supersnoop]

The dealer is paying about 2.7% in fees when you use a credit card. Are your rewards worth more than that? If they let you charge it, then you paid too much for the car.