SPIFIMAN1
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Auto finance is what I do for a living and the answer to your question is a big YES you can.
I have sold several vehicles over the last 7-years to people that have used credit cards.
One was a $30,000.00 sports car put on a American Express Gold card.
Now, having said that, if you are going to do this, be careful and make sure that your payments are made on time or before they are due so you can avoid any increase in rate. |
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Vampir V
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ask your car seller! should be OK!
try ...
BUT do you really want a car loan? It's not a good idea. Cars are loosing so much of the value in shortest time. Better buy a smaller and less expensive car. |
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It's Kippah, Kippah the dawg
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Sure. But what happens when you're late just ONE time and your rate skyrockets to 22+%? Best read the fine print of your CC contract to ensure something like that doesn't happen. |
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*****
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Yes, if you credit limit is high enough, but this is the most foolish thing you can do. That 3.39% interest rate isn't permanent [it will fluctuate], and you will be owing on this credit card bill for the rest of your life. Be smart, DON'T DO IT. |
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wizjp
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Find a dealer that accepts it, and it certainly can. CC doesn't care what you charge. |
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Blicka
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As long as your creidt limit is enough, yes, you can purchase a car with a credit card. |
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KEKE
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Yes, but u might get a used car. |
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JB
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It's a dangerous idea. Let's say you buy this car at 3.99 percent and only pay the minimums payment on the card. That five year loan is stretched to ten or twentyy years. Do you really think that card will stay at 3.99 percent for ten or twent years. No way.
3.99 sounds like an introductory offer more than anything. In the end you pay more for the car then you would with a traditional fixed five year loan.
Most cars loose something like 60 - 80 percent of their value in the first 4 years. Would you pay on something for ten or twenty years that looses 60 - 80 percent of it's value in four years. Bad investment.
By the time you go to trade this car it'll be worth less than the balance on your credit card. Now you have a new car payment and a payment left over on your card. Bad idea.
Don't do it. Save up enough cash to buy the thing. If you don't have the cash than buy a cheap used car and save for the new car.
Buying a car with a credit card sounds like a good idea in the short term. If you look at the long term, you'll see it isn't.
Imagine how much money you would have if you invested that credit card payment into a good mutual fund or money market. In ten or twenty years you'd be able to use cash to buy a car. |
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Barbie!
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yes. I think you could buy a car if your credit was good enough. But when in doubt...... why not call your credit card company? I'm sure they could fill you in on the details. |
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Texas Girl
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Yes, you can purchase a vehicle with your credit card. But be very careful if you do so. Make sure you read the fine print considering this interest rate. As mentioned above, the rate is probably a variable rate or it may be a fixed rate for a certain period of time. If you are late one time your rate may be liable to sky rocket. Yes, that rate is a very good rate, but if you are able to get such a low rate on a credit card then I am sure that you can probably get as good a rate if you apply for a car loan. Shop around for rates before you take a big step like that. The good thing about car loans is that you usually have a 10 day grace period to make your payment without being charged a late fee. |
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iceman
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Yeah some dealer probably will. Just call a few and ask. Car dealers typically dont, but they are so hungry to make deals they may work it out foryou.
HOWEVER ...make sure that 3.99% interest rate is a lifetime rate. Read the rules carefully. I have had cards that start off very low and then jump up after a year or so. You dont want that rate popping up to 20% or something. |
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nicshtik
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The only issue will be whether the dealership will accept a c/c transaction that large. As long as your credit limit is ok --oh actually (and sorry I just thought about this) many cards have a daily transaction limit of $1,000 or $1,500. Often you can call your cc co and tell them that you are making a large purchase and they will ok a single transaction - just somethign to think about. |
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