Paying for Prius with a credit card

maggieddd · 07-26-2005, 06:49 PM

When I tried to put some of the balance on my credit card my dealer said that he can only accept $1000. SO I am not sure if it is just him or they all do it. Well, it's kind of too late for me at this point for that anyway, since I've been driving my Prius for over a week now.
But is it possible to pay a part of the loan with a credit card? I've got 0% on my credit card, so I was wondering if I could pay off some of my loan with it, anyone know? Or even what about those checks that the credit card company sends, they have like 2.9% or so, is it possible to pay off some of the loan with that? Anybody?

JeffHart · 07-26-2005, 07:03 PM

The dealer I purchased mine at wouldn't accept full payment. The salesperson told me I could put $3,500 on AmEx, finance guy told me the normal limit was $2,000 and let me put on $2,500.

Would have loved to get 26K AmEx points

Cheers,
Jeff

mark_hamrick · 07-26-2005, 07:16 PM

Be careful with those checks. Some carry a fee of 3% of the amount you write it for...

prius04 · 07-26-2005, 07:19 PM

Credit card companies charge a fee from the seller for each purchase.

I think it's only about 2% so on a $26000 purchase, the dealer would be charged $520.

Now, if they were making a good profit on a car, and the buyer refused to pay any other way, the dealer might go along and consider the $500 as the cost of doing business.

But on the Prius, why would they do that? They can say no to you and just turn around & sell it to someone else tomorrow.

And some cards have fees that are higher than that. Discover card has a higher fee, and this is why less places take that card.

And for those special checks that go with a credit card, read the fine print. Often there is no grace period, and fees at the outset apart from the interest rate.

vande23 · 07-26-2005, 07:24 PM

I was also told $1K as a max - they used that as my deposit to hold the car when it was already on the truck on its way. Then, when I tried to pay the balance on a card(s) - they said "the lein holder can not be a credit card" - which may be true I guess, who knows... but yeah I am sure they do not want to have to pay the service fees to the credit card companies.

prius23 · 07-26-2005, 07:29 PM

I bought my black Prius three weeks ago in El Monte, Ca. at Longo Toyota, one of the largest Toyota dealers around. They would only accept $500 charge to credit card for purchase. Too bad they wouldn't accept more....

kirbinster · 07-26-2005, 07:41 PM

My dealer would let me put a max of $3K on a credit card.

maggieddd · 07-26-2005, 08:17 PM

How about paying a loan (or part of it) with a credt card?

JeffHart · 07-26-2005, 08:50 PM

<div class='quotetop'>QUOTE(mark_hamrick\";p=\"110537)</div>

Quote:

Be careful with those checks. Some carry a fee of 3% of the amount you write it for...
[/b]

No AmEx check, would've paid off when the bill showed up. It was a cash deal.

Cheers,
Jeff

Sean & Ian · 07-26-2005, 09:01 PM

Rockingham Toyota in Salem, NH, let me put up to $2K on my credit card :cry:

07-26-2005, 06:49 PM	#1
maggieddd Senior Member Join Date: Jul 2005 Location: Boston Posts: 2,081 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Paying for Prius with a credit card When I tried to put some of the balance on my credit card my dealer said that he can only accept $1000. SO I am not sure if it is just him or they all do it. Well, it's kind of too late for me at this point for that anyway, since I've been driving my Prius for over a week now. But is it possible to pay a part of the loan with a credit card? I've got 0% on my credit card, so I was wondering if I could pay off some of my loan with it, anyone know? Or even what about those checks that the credit card company sends, they have like 2.9% or so, is it possible to pay off some of the loan with that? Anybody?

07-26-2005, 07:03 PM	#2
JeffHart Join Date: Jul 2005 Location: Washington, DC Posts: 83 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: Paying for Prius with a credit card The dealer I purchased mine at wouldn't accept full payment. The salesperson told me I could put $3,500 on AmEx, finance guy told me the normal limit was $2,000 and let me put on $2,500. Would have loved to get 26K AmEx points Cheers, Jeff

07-26-2005, 07:24 PM	#5
vande23 Join Date: Jul 2005 Location: St.Paul, MN Posts: 20 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: Paying for Prius with a credit card I was also told $1K as a max - they used that as my deposit to hold the car when it was already on the truck on its way. Then, when I tried to pay the balance on a card(s) - they said "the lein holder can not be a credit card" - which may be true I guess, who knows... but yeah I am sure they do not want to have to pay the service fees to the credit card companies.

07-26-2005, 09:01 PM	#10
Sean & Ian Member Join Date: Apr 2005 Location: New England Posts: 45 My Car: 2005 Prius Package: #6 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Re: Paying for Prius with a credit card Rockingham Toyota in Salem, NH, let me put up to $2K on my credit card :cry:

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07-26-2005, 07:16 PM	#3
mark_hamrick Senior Member Join Date: Aug 2004 Location: Littleton, Colorado Posts: 103 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Be careful with those checks. Some carry a fee of 3% of the amount you write it for...

07-26-2005, 07:19 PM	#4
prius04 Join Date: Aug 2004 Location: NorthEast USA Posts: 1,155 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Credit card companies charge a fee from the seller for each purchase. I think it's only about 2% so on a $26000 purchase, the dealer would be charged $520. Now, if they were making a good profit on a car, and the buyer refused to pay any other way, the dealer might go along and consider the $500 as the cost of doing business. But on the Prius, why would they do that? They can say no to you and just turn around & sell it to someone else tomorrow. And some cards have fees that are higher than that. Discover card has a higher fee, and this is why less places take that card. And for those special checks that go with a credit card, read the fine print. Often there is no grace period, and fees at the outset apart from the interest rate.

07-26-2005, 07:29 PM	#6
prius23 Junior Member Join Date: Jul 2005 Posts: 18 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I bought my black Prius three weeks ago in El Monte, Ca. at Longo Toyota, one of the largest Toyota dealers around. They would only accept $500 charge to credit card for purchase. Too bad they wouldn't accept more....

07-26-2005, 07:41 PM	#7
kirbinster Join Date: Jun 2005 Location: Morris County - New Jersey Posts: 572 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	My dealer would let me put a max of $3K on a credit card.

07-26-2005, 08:17 PM	#8
maggieddd Senior Member Join Date: Jul 2005 Location: Boston Posts: 2,081 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	How about paying a loan (or part of it) with a credt card?