Say if you don't wanna to make time payments and just wanna buy the whole
car outright, can you swipe your debit card and drive the car off the lot ?
car outright, can you swipe your debit card and drive the car off the lot ?
Can you buy a new car with a debit card ?
- Thread starter Merkava_4
- Start date
- Status
The local toyo dealer has a $3k limit on credit cards. I think that applies to debit cards as well.
- Joined
- Dec 30, 2006
- Messages
- 29,558
Buy the car then pay the lienholder off with your debit car?
Originally Posted By: aquariuscsm
Buy the car then pay the lienholder off with your debit car?
That would require you giving your SSN to a used car dealer or having them or the bank in your business.
I'd only do this for the right contract price if they thought they were getting a sweet kickback on the interest rate, then pay it off next day.
Buy the car then pay the lienholder off with your debit car?
That would require you giving your SSN to a used car dealer or having them or the bank in your business.
I'd only do this for the right contract price if they thought they were getting a sweet kickback on the interest rate, then pay it off next day.
We've usually just written a personal check for a new car.
We financed the '12 Accord since we thought the almost free money .9% rate was too good to pass on.
The problem with using either a debit or a credit card is that there are merchant fees involved, which might put the tranaction into a net loss for the dealer on a typical low-margin sale.
The card company couldn't care less, since they make money with each transaction.
So while you could, the selling dealer probably won't allow it.
We financed the '12 Accord since we thought the almost free money .9% rate was too good to pass on.
The problem with using either a debit or a credit card is that there are merchant fees involved, which might put the tranaction into a net loss for the dealer on a typical low-margin sale.
The card company couldn't care less, since they make money with each transaction.
So while you could, the selling dealer probably won't allow it.
MolaKule
Staff member
The last time I bought a vehicle I got a pre-approved loan from
my bank, then next week I went in and paid off the loan.
This does wonders for your credit profile.
my bank, then next week I went in and paid off the loan.
This does wonders for your credit profile.
The fee for debit/credit is 3%tops. So lossing money on card transactions. is [censored]. Big chain store pay a cap charge of 0.5%.
pay cash. call bank one week before plnned purchase date. Pick up cash on choosen cars test drive.
That's what my parents do. they request set buget of money from bank. 7 Days to research and choose car/dealer/service/ect/ect. Choose car to purchase and use test drive to pick up cash. cash is king.
ken
pay cash. call bank one week before plnned purchase date. Pick up cash on choosen cars test drive.
That's what my parents do. they request set buget of money from bank. 7 Days to research and choose car/dealer/service/ect/ect. Choose car to purchase and use test drive to pick up cash. cash is king.
ken
Originally Posted By: NHGUY
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Originally Posted By: Miller88
Originally Posted By: NHGUY
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Right!
And think of the money you'd save on living expenses while doing felony time for this theft by deception.
Originally Posted By: NHGUY
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Right!
And think of the money you'd save on living expenses while doing felony time for this theft by deception.
It can be worse. Apple does not accept U.S. Currency, in violation of the FTC........
Originally Posted By: Miller88
Originally Posted By: NHGUY
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Paypal is NOT a bank. They do not have to "give back" your money. Educate yourself about Paypal
www.paypalsucks.com
Originally Posted By: NHGUY
Use Pay Pal instead.lol
That could work really well in your favor! Buy the car with Paypal, then say you never received it. Likely, they will give you back the money!
Paypal is NOT a bank. They do not have to "give back" your money. Educate yourself about Paypal
www.paypalsucks.com
My bank has a daily limit on debit card transactions. I think it's $2500.
I wrote a personal check for the last 2 cars I bought.
I'm fairly certain that banks can set their own rules on how much $ you can withdraw over a period of time while using a debit card. They do it to protect themselves when a thief steals your card, and tries to take as much as they can.
However, I don't work in the banking business, and there is no way I could afford to spend that much money, anyway.
However, I don't work in the banking business, and there is no way I could afford to spend that much money, anyway.
- Status
