Friend got screwed at dealership
10-17-2005, 02:43 PM
#31
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Friend actually got the parent to do the loan...........It's not even in my friends name, it's in the parents name - and they own a couple of houses! So, they must have at least ok credit
10-17-2005, 04:26 PM
#34
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Originally Posted by 1reguL8NSTi
My dad buys all his cars on credit to get the reward points. I never thought about that but it seems like it'd work. I'd be worried about the fine print and them pulling some BS.
That's the only way I roll.
10-17-2005, 11:49 PM
#37
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lol, u guys hsould watch the movie called suckers. While working at the subaru/saab/toyota dealership in oakland .. the place had speical finiancing and a use car lot . the most one of the speical finiance guys there got on someone with (incredibily bad credit probably multiple repo, filed for bankrupt etc. ) was like 60k for a 20k neon. so yea. dont feel too bad but definitely go back to the dealership, if the dealer lied about anything, you can still get your money back since it's freud. So tell your friend to remember his salesmen and go straight to the sales or general manager. my 2 cents
-henry
-henry
10-17-2005, 11:51 PM
#38
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Originally Posted by unstble
Friend actually got the parent to do the loan...........It's not even in my friends name, it's in the parents name - and they own a couple of houses! So, they must have at least ok credit
10-17-2005, 11:58 PM
#39
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Originally Posted by atc5
You can't get a car loan to pay off your credit card though, so this won't work.
Nice thought though.
Nice thought though.
As far as this post, you are handed the contract when you buy a car, so after you sign it you lose the right to complain about the contract details. Every time I have bought a new car, I was 100% sure about the details going on, even if it "took too long" to read the info. This is part of the deal when doing stuff like this.
As far as not buying cars over $3k with a credit card, BS. I have 2 credit cards with high enough limits, and they give me checks that I can write to myself, that will just go on the bill. I could write myself a check for $10k today, deposit it, "pay cash" for the car and then I would have an $10k credit card bill. Stupid, but it could be done. With that, I could get the airline miles, then go straight to my credit union to get a loan on the car. After paying cash for my last few cars tho, the "paid off" mod is my favorite. Forget car payments...
10-18-2005, 06:07 AM
#41
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Originally Posted by 2004Wagon
Credit card transactions cost dealerships in the tune of 1-2% of the transaction amount. No dealership will allow you to put more than $3k or so onto a credit card, unless the car's price was inflated (ie get their credit card fees back from the inflated car price).
10-18-2005, 01:52 PM
#42
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Originally Posted by 2004Wagon
Credit card transactions cost dealerships in the tune of 1-2% of the transaction amount. No dealership will allow you to put more than $3k or so onto a credit card, unless the car's price was inflated (ie get their credit card fees back from the inflated car price).
3% I believe.
I try it every time.
they would not do it.
Nick
10-18-2005, 05:45 PM
#44
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Most Cards Don't Give Reward Points For 0% Checks
Originally Posted by wombatsauce
As far as not buying cars over $3k with a credit card, BS. I have 2 credit cards with high enough limits, and they give me checks that I can write to myself, that will just go on the bill. I could write myself a check for $10k today, deposit it, "pay cash" for the car and then I would have an $10k credit card bill. Stupid, but it could be done. With that, I could get the airline miles, then go straight to my credit union to get a loan on the car. After paying cash for my last few cars tho, the "paid off" mod is my favorite. Forget car payments...
If you have a card that gives points for the checks, you can just write the check to yourself, get the points/rewards, then pay off the balance immediately with the cash you got from the check. Keep repeating and you will get infinite reward points/mileage.
So I would really want to know what card let you use the check for points. I don't think there's one unless there's a fee to use the checks which will offset the reward points they give you.
10-19-2005, 09:51 AM
#45
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Originally Posted by 2004Wagon
It would be great if you could tell me which card gives mileage/reward points for the 0% checks they give. 99% of them only give reward points/mileage/% cash back on "purchases" actually charged to the card.
If you have a card that gives points for the checks, you can just write the check to yourself, get the points/rewards, then pay off the balance immediately with the cash you got from the check. Keep repeating and you will get infinite reward points/mileage.
So I would really want to know what card let you use the check for points. I don't think there's one unless there's a fee to use the checks which will offset the reward points they give you.
If you have a card that gives points for the checks, you can just write the check to yourself, get the points/rewards, then pay off the balance immediately with the cash you got from the check. Keep repeating and you will get infinite reward points/mileage.
So I would really want to know what card let you use the check for points. I don't think there's one unless there's a fee to use the checks which will offset the reward points they give you.