New Car payment option

[Drifter]

I bought my wifes car using my Std Bank cheque card.

 

[Thebadguy]

Gimme a discount or add mags or I will force it out of you..

 

[Fazda]

Our Dealership would not accept a credit card for anything over R 20 000.

I cannot remember the exact reason, but bank charges certainly come into it - effectively the card/bank would be getting an extra 5% that comes directly from the dealership.

A smart arse can walk away from a deal if a card is not accepted, but it's their loss in the end - The Motor Industry is not a Non Profit Organization, and it always amazes me how many people think that they deserve a better deal than anyone else.

 

[Dolby]

#thinkofalltheEbucks

But there are caps on ebucks and I think it's a percentage of total spend, or something. Sinbad could probably tell you as he is the Master of ebucks

 

[creeper]

But there are caps on ebucks and I think it's a percentage of total spend, or something. Sinbad could probably tell you as he is the Master of ebucks

Doesn't ABSA GICE 1% cash back?

 

[Dolby]

Oh - sorry.

Brain automatically goes to FNB

 

[Venomous]

MasterCard and Visa have no jurisdiction over car dealerships.

lol,

the dealership has to sign agreement to their(master and visa) terms in order to be able to process such cards.
refusal could have many repercussions....

 

[Venomous]

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.

and part of the terms are that the merchant(dealer, store, online etc...) may not charge more for carded transactions than they do for equal cash/eft transactions

 

[faniebraai]

and part of the terms are that the merchant(dealer, store, online etc...) may not charge more for carded transactions than they do for equal cash/eft transactions

correct. i remembered that after my earlier brain fart, actually got confused between that and the refusal to take card payment

 

[ToxicBunny]

Our Dealership would not accept a credit card for anything over R 20 000.

I cannot remember the exact reason, but bank charges certainly come into it - effectively the card/bank would be getting an extra 5% that comes directly from the dealership.

A smart arse can walk away from a deal if a card is not accepted, but it's their loss in the end - The Motor Industry is not a Non Profit Organization, and it always amazes me how many people think that they deserve a better deal than anyone else.

Somethings tells me that is massively in breach of the Merchant Agreement that would have been signed though.

 

[bboy]

The Motor Industry is not a Non Profit Organization.

Say what?

 

[creeper]

Say what?

Motor industry is more like a cartel

 

[A3@MBB]

I paid the deposit with a credit card when I took delivery of my car the other day.
The salesperson needed to organize with the parts department about the transaction and internal refund. It was the parts department POS machine that was used, I don't know why however.

 

[Sinbad]

I paid the deposit with a credit card when I took delivery of my car the other day.
The salesperson needed to organize with the parts department about the transaction and internal refund. It was the parts department POS machine that was used, I don't know why however.

Because the vehicle sales people don't have card machines.
Mine went through the workshop.

 

[ChocolateBadger]

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.

6k only? Jesus that's a tiny dent in their markup

 

[nakedpeanut]

In the case of Visa and MasterCard a merchant cannot refuse your card if they display the relevant logo's and are obviously able to process the transactions based on the agreement with their acquiring bank.

Only US Merchants may however, add a maximum surcharge of 4% to Credit Card transaction if they disclose this up front! Debit cards are exempt from this.
http://www.mastercard.us/merchants/_assets/docs/Merchant Surcharge_FAQ_02.14.13.pdf
http://usa.visa.com/download/merchants/card-acceptance-guidelines-for-visa-merchants.pdf

That said I'm not aware of any law in SA forcing a merchant to accept credit cards. This is solely an agreement between the merchant, bank and card networks.

 

[Fazda]

6k only? Jesus that's a tiny dent in their markup

No it's not, but I am too tired to yet again get into an argument about MI profits.

 

[ToxicBunny]

No it's not, but I am too tired to yet again get into an argument about MI profits.

but but but...

 

[Fazda]

but but but...

Not again!