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How to maximize your rewards when paying for a car/truck purchase?

dud 944 133 August 5, 2016 at 05:31 AM
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Assuming that you, the buyer of a car/truck has negotiated an OTD price on a vehicle for a cash price ... how would you pay for it to maximize any possible credit card/bank incentives? Example: If you CC give 1% cash back on all purchases (and assume that you have a $10K credit limit) ... could you not make you already-negotiated price even better by putting $10K of the vehicle purchase on the CC and get the benefit of the CC rewards while paying the rest of the purchase price by cash or check?

I may be buying a new vehicle soon and am curious as to how to maximize any possible buying rewards assuming that I am paying cash. Thank you ...

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Joined Dec 2008
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#2
How to maximize? Ask how much you can pay on CC, go for it and pay check for the rest.

It all depends on the dealer. I have heard/seen of dealers who will let you put 10-15K on a card, and others, who will limit it to $0 or only a couple of thousand.

I bought a 4K car at one point, they told me only 1K could go on the card, rest had to be cash or check.
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"This whole.. I have XX company so my pee pee is 2" longer talk is hilarious. Who cares what company is cheapest, best, etc. Pick the company and plan you want and keep it to yourself."
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#3
dealership i worked with only let you put a deposit down on CC and even then i think it was limited. car i wanted was in stock so it wasn't something i could do anyways. dealers don't want to pay 3-4 percent to take your money.
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so i spent time making a signature. only to realize that you couldn't put an image in the signature. please enjoy the link to my signature, assuming it works.

http://imgur.com/FtBghZ2
#4
You realize the dealer is charging you for that, right?
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#5
Quote from dud View Post :
Assuming that you, the buyer of a car/truck has negotiated an OTD price on a vehicle for a cash price ... how would you pay for it to maximize any possible credit card/bank incentives? Example: If you CC give 1% cash back on all purchases (and assume that you have a $10K credit limit) ... could you not make you already-negotiated price even better by putting $10K of the vehicle purchase on the CC and get the benefit of the CC rewards while paying the rest of the purchase price by cash or check?

I may be buying a new vehicle soon and am curious as to how to maximize any possible buying rewards assuming that I am paying cash. Thank you ...
Like others have said, it depends on the dealership. For the last car I bought, I was allowed to pay for $2,000 of the purchase price with a credit card.
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Calculate the best reward credit cards and card combinations for your uses:
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#6
I did 3k down on CC
no extra charges anywhere.
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#7
Quote from stufine View Post :
I did 3k down on CC
no extra charges anywhere.
They charged you for it.

They're not new to this game.
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#8
Quote from vaultaddict View Post :
They charged you for it.

They're not new to this game.
Yes, you're right
it's not like anyone ever reads the contracts before they sign
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#9
Quote from stufine View Post :
Yes, you're right
it's not like anyone ever reads the contracts before they sign
Do you think the car dealer is unaware that credit cards cost them money, and fails to price that in?
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#10
If they're letting you put money on a credit card for a car purchase, you've left money on the table for the price of the car.
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#11
---MadnodEEK!Cool
over
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Last edited by stufine August 7, 2016 at 11:11 AM
#12
Quote from vaultaddict View Post :
Do you think the car dealer is unaware that credit cards cost them money, and fails to price that in?
Mute point
Part of doing business. Every company has added in additional cost to cover charges and expenses right down to their toilet paper. And some you would never guess

If my tenants want to pay by CC, they pay the 2.75%. Could I add it in? sure. I already have my van, 2nd house and vacation added into their cost. Would I eat $90 to take 3k in one swipe? yes
Would the dealer eat $90 fee to seal the deal? the smart ones would.

I get 2 points per $1.. why wouldn't I put money down using the card?
I get 2 points from multiple cards by paying utilities. I pay almost 4k a month in utilities.
What's the difference?

I agree there may be a limit you can put down. Water company did it to me. Not sure why, 4k equals 4k no matter how you split it.

Yes retailers can be charged more for the type of benefit card you use (rewards or not)

Not good business to let 20k slip by because of $90

At one point PNC Bank had a rewards card connected to deposits you made to your checking account. Charge and get xx points, make deposits and get xx points. They got raked over the coals until they changed what the rewards can get you.

Would have been perfect for the OPS plan. They may still have it or other banks might.
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#13
Quote from vaultaddict View Post :
If they're letting you put money on a credit card for a car purchase, you've left money on the table for the price of the car.
Every new car dealership has the CC limits posted at the cashier's desk. They don't decide them on the spot based on how much profit they're making on a particular deal. As the previous poster stated, the cost of such transactions is already built into every sale.
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As the username says ...
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