Pay off New Car w/Credit Card for Bonus Points????

andrelaplume2February 3, 2011

I was surprised when the finance dude (after trying to sell me all sorts of stuff and going over my loan) asked me if I wanted to pay the balance (after my loan) off right away (almost five thousand dollars). I said I did not have a check but the real reason was that I did not want to make my cash payment until the car was ready for delivery.

Anyway he said if I did not have a check I could put it on my charge to get the bonus 'points'.

Well I immediately had two thoughts:

1) Great idea so long as it does not take me above my credit limit. We'd pay the balace off in full anyway and I'd actually get some sort of cash back bonus. I thought I'd call the credit card company first to let them know an unusually large amount was about to appear and make sure I would not be over my limit or incur any weird fees.

2) I would have thought the auto dealer would frown on this since they have to pay fees for credit card transactions.


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I agree with your questions about the dealer's motive. I am sure they would have to pay a fee to the credit card company, but maybe he thinks that's better than lose he sale due to the customer getting "cold feet" and backing out of the deal before writing a check.

    Bookmark   February 3, 2011 at 8:39PM
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