Hello,

What's the maximum amount that your dealer allowed you to charge on credit card? For me,
2014 Mini - $5000
2004 Nissan Maxima - $3000
2001 Toyota Avalon - $3000

Thanks.

 

As I recall it was $5000 this time, and $2500 in 2007, but I didn't use it this time I wrote a check for the whole difference. Last time I financed it through Mini and it ended up with my bank Chase.

 

$5000

 

$2000

 

Just to be clear, this is going to between you and the dealership. It's got nothing to do with Mini.

Having said that, my dealership on the 2009 MCS allowed $5000 on a credit card.

Hoping for the same or more this time -- different dealer.

 

Are these 0% interest credit cards everyone is using? Otherwise why use a card?

 

I put the $500 deposits on my Discover card to get the "cashback rewards".
I'm not sure if they're going to let me put down payments on my card too, but I'm going to try!

 

My dealership only allowed $1,000

 

When I bought the GP2, I was able to put over $3k down.

I have 0% for 12+ months and rewards points. That was a no-brainer.

 

Some might have 0% and do it for that reason. Most probably pay off the balance in full every month, and hence do it for either cash back, points, or airline miles.

 

I had plenty available on the card, but the dealer's policy was $2K max. Kind of silly IMO, when I could then walk over to the parts counter and order $5K in parts with no problem at all.

 

I think when it comes to using a credit card for down payment state laws are in control more than the dealer. If too much of the cars value to placed on a credit card, some states consider this a "Second lean holder". Basically another loan on the car. This is because you didn't pay that portion, the bank that owns the credit card technically paid it.

I believe state laws vary greatly with this concept. Also, sometimes dealers are weary of doing anything that might get them in trouble. Even if its fine. Some just play it safe more than others.

 

A couple years ago I wanted to pay a dealership cash for a car that was for my daughter and would be in her name.
The dealership made me fill out a form stating we were purchasing the car with cash and the amount along with other notations about the purchase required by and to be sent into the state.
It appears the state was concerned about using cash to purchase large ticket items as a means of money laundering.

 

^^^^This^^^^^^

 

0% and reward points.

 

RE: russmini and Grizld700, as others have said, points! I don't have a 0% card here, but I pay in full every month and thus avoid interest and get rewards points, so I try to make all my purchases on the card.
I think the state law thing mentioned above is on point, $2000 was the limit for both my MINI dealer and the Chevy dealer my GF got her car at before, though that could be coincidence. I'd have paid more on the card for extra rewards point if they let me, but it was $2000 on credit card (which I used for the deposit) and then the rest via certified check.

 

Bingo, 1.75% cash back across the board, why not use it and pay it off!!!

 

Thanks a lot for the discussions. I consider any rate higher than 0.99% is high so I don't want to borrow any money. However, I am a couple thousands dollar short and credit card billing gives me one extra month to collect pay checks. American Express gives me 1% rebate on the $5000.

 

You are smart to pay it off each month. Some people are paying high rates on their card and don't pay off each month. Paying credit card interest is a crime in my family.

 

When the dealer gets his money from this transaction, I won't be the full $2k. The credit card company takes some of it.

 

More than likely the dealer pays somewhere between 2% and 3% of the total to the bank for taking your credit card.

 

$3000

 

Mine allowed $5000 on the card. Did it for the points. Paid it before the statement arrived.

I put $1000 on the card for the down payment. They never processed it. Something about only being able to do one charge, so they held it so I could do the 5k later.

 

i ordered my all4 on a handshake and wrote a check when i took delivery, however, i did buy a bmw k75s in1987 and put the whole purchase on a credit card, tax, title, tags etc, all on the card ... don't remember the total, but the bike was $5950 and the out the door was about $6500-6600

 

Wow I never thought to put a portion of it on the card for the rewards points!

Thanks forum! I'm going to do whatever the max allowed will be