Has anyone ever paid for a car with...

[BrerGnat]

...a credit card?

Seriously, can this be done, assuming of course you have a high enough limit?

When DH returns from Iraq next year, he will need to buy a new car. We sold his car prior to him leaving (too expensive to keep it just sitting here not being driven). We will have the money saved up to pay for the car in cash, BUT I just realized that I could potentially charge it and rack up $$$ on our rewards card. That particular card has a $15K limit, and he is buying a car that will cost around that much. He is buying new, from a dealer.

Will a car dealer (Honda) let you pay with a credit card? We would, obviously, pay it off like the day that it posts to the credit card account.

[Nascfan]

Not in Ohio. There's a law here that you can't finance debt with debt. Check with your dealer in your state. It may or may not be the same.

We wanted to do that with our down payment when we bought my car a couple years ago. We wanted to get the reward points and pay it off right away, but that was not allowed. It would have been a sweet reward though!

[SgtTigger]

I did it last June..... Here in Louisiana..... Yep we got tons of Disney points.......

We also had the money but why not go ahead and CHARGE IT.........

We then went to Disney and used some of them..........

[SteveL]

I used my Disney Visa to throw a couple thousand down on my car then paid it that night.
If they will do it where you live just be sure it is going to be considered a credit card sale and not a cash advance. I found that out the hard way with making one of DD tuition payments.

[NotaGeek]

I know for a fact you can pay for a car with an American Express Card. I would just definitely call your card company and let them know what you are doing first. The points you will get are TOTALLY worth doing this!

[BrerGnat]

Thanks for the info! I was able to put a $5000 down for a car on a credit card a few years back (for said car that we sold), but I also paid it back right away.

I just didn't know if you could put the WHOLE car amount on a credit card.

I appreciate the advice to call the card company and let them know...I imagine a $15,000 charge would set off some alarm bells with them...

[Ruprect]

Not in Ohio. There's a law here that you can't finance debt with debt. Check with your dealer in your state. It may or may not be the same.

We wanted to do that with our down payment when we bought my car a couple years ago. We wanted to get the reward points and pay it off right away, but that was not allowed. It would have been a sweet reward though!

Interesting that you say that. I'm in Ohio and I put the down payment on my minivan on my disney credit card in 06.

I think what you're thinking of is where you can't make car payments or mortgage payments with a credit card. Man the points I could rack up with mortgage payments!

[DizneyRox]

It could be the dealer won't let you do that as well. There is a "fee" for retailers using a credit card (something lile 2% of the transaction give or take) So, when you charge $100, the retailer only gets $98. With a car, that money is significant, and the dealership may not want to give that money up.

[d_m_n_n]

It could be the dealer won't let you do that as well. There is a "fee" for retailers using a credit card (something lile 2% of the transaction give or take) So, when you charge $100, the retailer only gets $98. With a car, that money is significant, and the dealership may not want to give that money up.

When we purchased our Jeep the dealer wouldn't do it for us. They wouldn't even let us use it for the down payment.

[bleukarma]

When I bought my Jetta I put the down payment on my credit card. I think it depends on the dealership. Some dealerships would probably be willing to do it (or at least a down payment) on a credit card just to get the sale. Others probably won't do it for the reason DizneyRox suggested. I suggest talking to the salesperson or dealership that you want to deal through. The salesperson might be willing to push their finance people into doing it just so he can get the sale. But some places it's against the policy no matter what.

Some places might have a limit. If that's the case then I would go ahead and do the limit. Even if it's only $5,000 as opposed to $15,000....that's an extra $5,000 worth of points!

[Nascfan]

Interesting that you say that. I'm in Ohio and I put the down payment on my minivan on my disney credit card in 06.

I think what you're thinking of is where you can't make car payments or mortgage payments with a credit card. Man the points I could rack up with mortgage payments!

No, it was definitely for the down payment. The reason they gave was that in Ohio, you couldn't finance debt with debt. Now, it could be they just didn't want to have to deal with the merchant fees like DisneyRox said, in which case I wish they would have just told us so. I would have been fine with that. Working in the field of accounting, I can understand places not being able to take that kind of hit.

[NewmanFamily6]

I know 2 lawyers who put her Lexus on the Amex & yes I mean the whole thing. They did it for the rewards and then paid the card right off

[poohluva]

We bought our DD a used Toyota for $5000 2 years ago and put it on our credit card with no problem at all.

[Disney Doll]

For some reason I have never thought of doing this. I might have to check into this when we make our next big purchase. We just got a really nice digital camera with our AmEx points.

[diz_girl]

If you do it, just keep in mind that you may take a temporary hit to your credit score. Mainly because part of your score is determined by a ratio of actual debt to available debt and charging a car can significantly alter that ratio. I know that it will be paid off as soon as the charge hits, but if the day that the charge hits is the day the the credit agency is reviewing the account, then your credit score will be lowered.

[BelleLovesTheBeast]

I put the down payment on my Honda a couple of years ago on my credit card. I wanted to get the points so I could get my free flight....to go to Disney.

So you can in TN.

[Dakota Rose]

If they won't let you use the actual card, you could check into getting a convenience check from your credit card. It works like a regular check from the car dealer's point of view, but then gets charged to your card. Just double check you get the same points, too.

[January-2007]

If they won't let you use the actual card, you could check into getting a convenience check from your credit card. It works like a regular check from the car dealer's point of view, but then gets charged to your card. Just double check you get the same points, too.

With the Disney Visa you don't get any reward points if you use a convenience check. I get those checks every single month and we shred every last one.

[Ian]

I know a guy who bought his Porsche on his AMEX and then used the points he earned to get front row tickets to the Stones.

Pretty cool.