Can you pay a vehicle off with a credit card?

2/22/2012 9:30:25 PM

ask Madea your querstion

I'm sure you can though

2/22/2012 9:31:18 PM

why would you?

2/22/2012 9:31:47 PM

Lol what up girl

^pointzzzz

[Edited on February 22, 2012 at 9:32 PM. Reason : Z]

2/22/2012 9:32:03 PM

Jesus I hope that was a typo and you weren't trying to be some faggot Megan Mulally.

2/22/2012 9:32:21 PM

not much...trying to not get shot in my hood

2/22/2012 9:32:53 PM

you can if they send you those checks that you can write against your credit card.


one might want to do this if they have enough cash to pay off the vehicle, and have a rewards card.

use the check, get the points, send the cash to the credit card company, $profit.

2/22/2012 9:33:27 PM

Thats my intent. I have two to pay off that would result in $600-$700 worth of travel (hotels, flights, rental cars etc)

2/22/2012 9:43:34 PM

where we going?

2/22/2012 9:44:17 PM

Check your fine print, my citi rewards card says that the checks do not count for rewards

2/22/2012 9:46:47 PM

Depends on the dealership.


If they are a dealership that makes most of their money on interest, then letting you pay the amount in full would not benefit them. Not only that, but the credit card fees are most likely hundreds of dollars.


However, if you (stupidly) bought your car brand new, with a huge mark-up, from some fancy official dealership, I'm sure they'd take your money in a heartbeat.

2/22/2012 10:02:21 PM

How much do you owe?

2/22/2012 10:03:26 PM

I made a car payment on my MasterCard w/o issue (online payment)

2/22/2012 10:03:44 PM

This is an interesting idea, I always assumed you couldnt make payments with a CC but I guess I've never looked into it.

2/22/2012 11:54:46 PM

aren't the checks subject to the cash advance rate and potentially a fee? be careful, son

2/23/2012 6:07:02 AM

CC company said just as long as the finance company takes CC then all points apply etc.

2/23/2012 9:10:23 AM

I can tell you're going to fuck this up

2/23/2012 9:16:01 AM

How so? I pay vendors with it.

2/23/2012 9:23:24 AM

^^^^

yeah, definitely check on this. Banks have closed a lot of loopholes that allowed you to generate points. I used to get free flights and other shit by doing all sorts of things with credit cards and points back in the day. but then it became too cumbersome.

[Edited on February 23, 2012 at 9:26 AM. Reason : .]

2/23/2012 9:26:23 AM

2/23/2012 10:00:33 AM

If you can't pay directly, use your card w/ Paypal to send the money to someone you know as a "gift". No fees, and they just give you the cash to go deposit and pay away.

2/23/2012 10:16:01 AM

^ THATS MY WAY OF STICKING IT TO THE MAN

2/23/2012 10:25:31 AM

Dave Ramsey Plan has been initiated

2/23/2012 10:51:13 AM

^^^wait, what?

2/23/2012 11:09:11 AM

I wish I could pay off my mortgage with a credit card. I'd have like 2 free ipads right now.

2/23/2012 11:11:47 AM

Usually the dealerships will only allow you to put a certain amount on your card when you buy the car, like 3-5k. They have to pay 1-2% processing fee for it I believe.

2/23/2012 4:31:35 PM

This is a really bad idea.

Damn near every CC charges at LEAST a 3% fee for "Cash Advance" checks and balance transfer checks. Not interest, a straight up fee.

Considering how few cards offer more than a 1% Cashback/Points reward on general purchases, and even fewer will count cash advances or balance transfers towards rewards, it's usually a bigtime losing proposition.

2/23/2012 5:17:10 PM

I can tell he's going to fuck this up

2/23/2012 5:23:28 PM

The person who never loses in the three ring circus (you/the dealer/credit card company) is the credit card company.










Remember that.

2/23/2012 5:31:02 PM

It's a good thing that a payment to a dealership is neither a cash advance nor a balance transfer.

Retardedness ITT.

[Edited on February 23, 2012 at 6:19 PM. Reason : ]

2/23/2012 6:15:06 PM

I don't see whats so difficult about this. I make all my monthly payments with my rewards credit card. I even pay off the other cards with my rewards card. Then the rewards card drafts the balance from my checking account. No interest paid and Chase sends me a nice check every few months. Why would you not do this?

2/23/2012 7:28:30 PM

Quote :

"I don't see whats so difficult about this. I make all my monthly payments with my rewards credit card. I even pay off the other cards with my rewards card. Then the rewards card drafts the balance from my checking account. No interest paid and Chase sends me a nice check every few months. Why would you not do this?"

-privacy from the government from tracking your spending habits.
-to help small business


Neither of which anyone cares about until they're on the run from the law or own a small business.

2/23/2012 8:50:07 PM

what does helping a small business have to do with any of this?


and why would you be on the run from the law?

2/23/2012 8:54:38 PM

Quote :

"It's a good thing that a payment to a dealership is neither a cash advance nor a balance transfer. Retardedness ITT."

i think most of the negative response was to the idea of using the checks associated with the credit card account if the lender wouldn't accept a card for a loan payoff

how's the herp?

2/23/2012 9:03:59 PM

PrufrockNCSU has herpes?

2/23/2012 9:10:17 PM

yes, he does

2/23/2012 9:15:12 PM

I already own the car. I have a $35k limit on the card. it is financed through BofA. If they take CC for the balance then I'm set.

2/24/2012 12:07:34 AM

So I have a loan through chase. I can pay it off with my AMEX then just pay off my AMEX and get the miles? I've never even looked into paying my payment with a CC because I just assumed you couldn't because of the charges (plus the dealership wouldn't let me make my initial down payment with it)

2/24/2012 12:29:04 AM

please update the thread when you find out they won't take a credit card for the payoff

2/24/2012 6:23:28 AM

they oughta let you do it

for your berfday

2/24/2012 6:38:58 AM

^^not possible with ALLY. Need to check with BoA

2/24/2012 9:14:26 AM

I don't see why you couldn't do this. My parents always pay for a car with a credit card, usually their AMEX. Obviously they wait until they have enough money saved to cover it. But instead of just writing a check, they'll put it on a card and get a bunch of free stuff.

Granted its been a couple of years now since the last time they've done it, so I don't know if the banking laws/cc laws have changed to make it where you couldn't do it anymore.

2/24/2012 9:16:41 AM

it's easy to see why you might not be able to do this

[Edited on February 27, 2012 at 12:03 PM. Reason : we're not talking about fucking laws]

2/27/2012 12:01:45 PM

i used my food stamp card to buy a car from my cuzzo ray ray

2/27/2012 12:11:48 PM