Just Reserved!

[jediknight36]

We are hoping to have at least $5,000 down, but if things happen as they look like they will we may have $10,000 or more.

[CruisingAZ]

I have 5K saved and I will add my 5K tax return and then put 5K on my credit card (make the dealer pay 4% to offset doc fees). I will have enough extra cash to pay the difference.

[jediknight36]

Originally Posted by CruisingAZ

I have 5K saved and I will add my 5K tax return and then put 5K on my credit card (make the dealer pay 4% to offset doc fees). I will have enough extra cash to pay the difference.

How do you get the dealer to do that?

[CruisingAZ]

Originally Posted by jediknight36

How do you get the dealer to do that?

All dealers will take a credit card, some don't tell you that but it is a legal form of payment. Some have limits on how much they will let you put on a card, My Jeep dealer took $5,000 (good way to get flyer points too) when I purchased my Commander for cash in January 07.

[jediknight36]

But how did you get the dealer to pay 4%?

[dlfreitag]

is 1413 and i'm in Columbus, Ohio. Wonder how long I'll have to wait?

[smarTIKI]

Originally Posted by jediknight36

But how did you get the dealer to pay 4%?

He's not talking about a reduction in price for the buyer; he's talking about the dealer having to pay 4% in merchant fees.

In other words, you might be stuck paying $499 for ridiculous "doc" fees, but you can feel better knowing that you got back at "the man" by using a credit card to purchase the vehicle, thereby eating into the dealer's profits.

However, there aren't any dealers out there having to pay 4% on credit card purchases. If they are, they aren't very "smart." A more realistic rate is about 1.67% of the transaction amount + $0.20 per authorization.

If you could throw all of your $18,000 purchase onto a credit card or two, the dealer would most likely end up paying about $300 in merchant fees.

No, you won't get any of your $499 "doc" fee back by using a credit card, but the dealer effectively gets only $199 of it.

"The man" stuck you, and you stuck him back.

[jediknight36]

Ahh, I see. Kinda got my hopes up. LOL. Car buying is still relatively new to me. But I like to 'no haggle' experience this presents.

[SnakeFarm]

I reserved in September 07. If smart EVER condescends to invite me to configure I'm going to configure the most expensive/ugliest combo I can imagine and then have the dealer put on a double coat of undercoating and etch the windows INSIDE and OUT the leave the little terd on the runway, go out and buy a slightly used orphan from some ninny who could not figure out the manu-matic.

If they won't honor the lame reservation I have no reason to believe they will stand behind the lame warranty either.

[jediknight36]

What do you mean? Arnt they honoring them?