New Car payment option

[jalize]

Can one pay with a credit card when buying a new car?

 

[phoenix99]

What is the limit on your card?

 

[satanboy]

Can one pay with a credit card when buying a new car?

Why not?

It's not clever due to the interest rate.

 

[jalize]

I intend to have the full amount on the card, basically use it as a debit card. BUT I do get points on the card for spending the money. ;-)

 

[boxerulez]

Can one pay with a credit card when buying a new car?

Buy from a dealership that has a filling station... small towns usually have these. then you swipe it on PetroCard. #thinkofalltheEbucks

 

[DanH]

The dealerships wouldn't allow it. They are going to be hit with serious transaction charges. They would have to push those charges over to you in the form of less discount to make it happen.

They would also be carrying the risk if the transaction was fraudulent.

Just do an EFT. You can't get the car on the same day anyway, they have to do paperwork and number plates.

 

[Colin62]

I wanted to do that once. Ended up having to do an EFT, because (as DanH said) the dealership refused to accept it due to the charges they would incur.

 

[SYNERGY]

I wanted to do that once. Ended up having to do an EFT, because (as DanH said) the dealership refused to accept it due to the charges they would incur.

True. Not sure they can legally refuse thou. They will integrate the bank charges into your deal in the form of a smaller discount.

 

[Colin62]

True. Not sure they can legally refuse thou.

I'm pretty sure they can. You don't have to accept cheques if you don't want to, and there are places which don't have credit card machines, and therefore don't accept a credit card for payment. In the end it doesn't really matter - it's a dick move insisting on paying using a method that makes the seller lose money when you can just as easily do an EFT.

 

[SYNERGY]

Master Card and Visa will say otherwise... I know merchants are bound to accept payment no matter how small the amount wrt Mastercard and Visa.

 

[Colin62]

MasterCard and Visa have no jurisdiction over car dealerships.

 

[Rouxenator]

I suppose you could. I scored a bit of ABSA rewards when I bought my bike using my credit card.

 

[faniebraai]

The dealerships wouldn't allow it. They are going to be hit with serious transaction charges. They would have to push those charges over to you in the form of less discount to make it happen.

They would also be carrying the risk if the transaction was fraudulent.

Just do an EFT. You can't get the car on the same day anyway, they have to do paperwork and number plates.

yeh this. a merchant (the dealership in this case) gets charged a percentage per transaction. Let's say it's around 3%, R200 000 car, that's R6000 the delearship looses just in transaction fees.

 

[faniebraai]

Master Card and Visa will say otherwise... I know merchants are bound to accept payment no matter how small the amount wrt Mastercard and Visa.

Maybe, but the merchant can force the customer to pay more to recover the trx cost.

 

[faniebraai]

MasterCard and Visa have no jurisdiction over car dealerships.

If they have a pin pad with a mastercard or visa logo displayed, they do. you as a merchant sign agreements with your bank, which are back to back with the MC and Visa requirements.

 

[Sinbad]

I bought a car from Volvo in Boksburg using a credit card. They weren't happy but they did it.

I also bought a car from a mercedes dealer in london using a debit card. Likewise.

 

[Sinbad]

Maybe, but the merchant can force the customer to pay more to recover the trx cost.

Nope, not allowed.

 

[faniebraai]

Nope, not allowed.

yeh, you actually right. but i think they can refuse to accept the card.... i think.

 

[Sinbad]

yeh, you actually right. but i think they can refuse to accept the card.... i think.

Then you walk out the door, and see how quickly they change their minds.

 

[faniebraai]

Then you walk out the door, and see how quickly they change their minds.

this is true lol