Your next car?

[saxonyron]

When I bought my Abarth, I paid for it with my debit card.... (having warned the bank that there was a sizeable transaction due, just in case their anti-fraud detection systems had a panic attack). I did ask the salesman if he still got people coming in with the proverbial shoe box of used notes, and he said that it does, but not that often - the people who do so are, how can I put this in a PC correct way, well, not the same of socio-economic grouping or mindset as Dave.

But a cheque? ..... I thought that they had all but technically disappeared? I last wrote one in 2008!

You Europeans are ahead of the banking curve there.  I had a client who had just moved to Cambridge, MA from Sweden.  He was a professor at Harvard, PhD, even had a laboratory named after him.  When we signed his contract, he literally had no idea how to write a check.  It was the 2nd check he'd ever written in his life, the first one being the payment for the house.  He sheepishly asked if I would help him write it out.  It was pretty funny.  He still hasn't noticed that I had him toss in a couple extra zeros and it's been a few years now! 

[Colin]

I think you are right. Debit cards are quite widely used, precisely because they are free to use, whereas in some countries there are transaction fees for using credit cards on everything. The UK outlawed this many years ago for most retail purchases, but some traders charge such a fee and the practice has crept back in for online purchases such as tickets etc, and if you can find a cabbie who takes cards, you can be sure he will charge a fee (largely to discourage you as a credit card has an audit trail which HMRC could follow up on!). The advantage of the Credit Card is that you have some consumer rights/protection/redress against the Credit Card issuer as well as the merchant - useful, for instance, if you booked a package holiday and paid and the holiday firm went bankrupt. Policies on banking fees vary by country - some countries still have free current accounts (UK), whereas others don't (France, Switzerland).

[dazzleman]

When I bought my Abarth, I paid for it with my debit card.... (having warned the bank that there was a sizeable transaction due, just in case their anti-fraud detection systems had a panic attack). I did ask the salesman if he still got people coming in with the proverbial shoe box of used notes, and he said that it does, but not that often - the people who do so are, how can I put this in a PC correct way, well, not the same of socio-economic grouping or mindset as Dave.

But a cheque? ..... I thought that they had all but technically disappeared? I last wrote one in 2008!

Because of transaction fees, the dealer won't take a card for more than $2,500, which obviously won't get me very far.

The dealer specifically asked for a bank check.  This is one of the only uses for a bank check anymore (though I used one to lay my speeding fine a few months ago).  BMW took a personal check from me but the Audi dealer will not.

[saxonyron]

In my business, if a client pays with either debit or credit card, it's over the phone, and the bank takes about 2.7%.  Not bad for retail sales, but I majorly discourage clients from doing that on my end since my average payment is over $5,000.  Those fees sure as hell add up! 

[saxonyron]

Because of transaction fees, the dealer won't take a card for more than $2,500, which obviously won't get me very far.

The dealer specifically asked for a bank check.  This is one of the only uses for a bank check anymore (though I used one to lay my speeding fine a few months ago).  BMW took a personal check from me but the Audi dealer will not.

Figure a fee of 2% of $55,000 or so, and you're looking at $1,100.  I'd bet the salesman isn't making that much on the entire sale!

[GoCougs]

Dealer took my Credit Card when I paid for my Yaris...

You financed a well-used Yaris, so any "taking" was likely very small. Color me unconvinced a dealer is gonna take a credit card for a $25k - $35k transaction...

[dazzleman]

You financed a well-used Yaris, so any "taking" was likely very small. Color me unconvinced a dealer is gonna take a credit card for a $25k - $35k transaction...

I agree.  I inquired about it because I wanted to get the rewards points.

[Northlands]

There are some dealers in town that will take debit cards ( Interac ) for automotive transactions. We paid by cheque for our most recent car, but debit was an option. I do wonder though if that would have affected the purchase price had we went the debit route? They did ask early on what type of transaction we planned on.

[2o6]

You financed a well-used Yaris, so any "taking" was likely very small. Color me unconvinced a dealer is gonna take a credit card for a $25k - $35k transaction...

Yeah, it was only like $1500 they actually took from my card.



We take CC's for downpayments at my dealer, but I THINK there may be a limit. I don't know.


I feel like if any dealer *actually* takes CC, it's a really horrible buy-here-pay-here lot with outrageous interest.

[dazzleman]

I picked it up!!!!  Pictures to follow.

[Colin]

How exciting.

[dazzleman]

How exciting.

I love it.  Lots of fun to drive.  Very edgy both in styling and driving capabilities.

[Soup DeVille]

I picked it up!!!!  Pictures to follow.

You're a lot stronger than you look.

[Soup DeVille]

Yeah, it was only like $1500 they actually took from my card.



We take CC's for downpayments at my dealer, but I THINK there may be a limit. I don't know.


I feel like if any dealer *actually* takes CC, it's a really horrible buy-here-pay-here lot with outrageous interest.

I don't know: I likely get a better interest rate on my cards than most car loans.

[MrH]

I don't know: I likely get a better interest rate on my cards than most car loans.

... What? How? BRZ was under 2%. The element is under 3%.

[Soup DeVille]

... What? How? BRZ was under 2%. The element is under 3%.

My Amex card is 1.9% for large purchases.

[Soup DeVille]

And a lot of cards have 0% introductory rates for 12 or 18 months: if you amortize your car "loan" within that time frame, or even just pay interest on the back half of the loan, you could find yourself ahead of the game when its all said and done.

Of course, you then have to be good about not adding things to that payment schedule during that time frame as well.

I've never bought a car on a credit card. I don't plan on it either; but its not neccesarily a bad idea in all cases.

[dazzleman]

http://www.carspin.net/index.php?topic=30074.msg1970990#new

Check out the thread on my new A6 including some pictures.

[Lebowski]

I don't know of any dealers that accept cc.

I used personal checks for both the C6 and 4runner.  They pull credit for personal checks iirc.

[Soup DeVille]

I don't know of any dealers that accept cc.

I used personal checks for both the C6 and 4runner.  They pull credit for personal checks iirc.

To be honest, I've never asked.

[GoCougs]

I don't know of any dealers that accept cc.

I used personal checks for both the C6 and 4runner.  They pull credit for personal checks iirc.

Hmmm. During the buying process didn't the dealer(s) just check with your bank to make sure the check was good? That's what happened when I bought both the Accord and G37. They'd be absolutely nuts to take a personal check that large only on faith (i.e., credit rating).

[dazzleman]

Hmmm. During the buying process didn't the dealer(s) just check with your bank to make sure the check was good? That's what happened when I bought both the Accord and G37. They'd be absolutely nuts to take a personal check that large only on faith (i.e., credit rating).

When I bought both BMWs, the dealer took personal checks.  I'm guessing they ran a credit check first.

[Lebowski]

Hmmm. During the buying process didn't the dealer(s) just check with your bank to make sure the check was good? That's what happened when I bought both the Accord and G37. They'd be absolutely nuts to take a personal check that large only on faith (i.e., credit rating).

It's been awhile but I'm pretty sure it was just a credit check, no call.

[Soup DeVille]

Well, it would be pretty hard for you to disappear after giving them all your information and such.

[MX793]

When I bought the Mustang, the dealer took my credit card for the deposit (which was only a couple hundred dollars), but insisted on a certified bank check when I took delivery.

[dazzleman]

Well, it would be pretty hard for you to disappear after giving them all your information and such.

That's true, but a bounced check would still be a major hassle.

[dazzleman]

When I bought the Mustang, the dealer took my credit card for the deposit (which was only a couple hundred dollars), but insisted on a certified bank check when I took delivery.

This seems to be the standard.  I was pleasantly surprised when BMW took a personal check from me.

[Northlands]

I picked it up!!!!  Pictures to follow.

Pretty slick Dave! 

[thewizard16]

I don't know of any dealers that accept cc.

I used personal checks for both the C6 and 4runner.  They pull credit for personal checks iirc.

My friend bought his new Terrain on his Amex at a large GMC/Buick dealership. They didn't want to do it at first, then agreed to it if he would pay the extra amount for the transaction fee, and then forgot to charge him for that fee in the end anyway. Decent little airline miles boost from that purchase.

[Raza]

That blue is so dark it does look black in some photos.  What's the name of that color?