Purchasing A Car With A Credit Card

Guest: Mike.Main
Post subject: Purchasing A Car With A Credit Card
Posted: Sun Oct 30, 2005 7:36 pm

Do you guys have anything against that, assuming my card has a much lower interest rate than my auto loan?

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Purchasing A Car With A Credit Card
Posted: Sun Oct 30, 2005 7:39 pm

Mike.Main wrote:
Do you guys have anything against that, assuming my card has a much lower interest rate than my auto loan?

Why only the down payment?????????

(assuming you get miles or points or cash back REWARDS)

ASSUMING the bill is PAID IN FULL or it has a 0.00% BT/PURCHASE rate or you can BT it to another card that does have a 0.00% BT

Guest: JaneiR36
Credit Expert (100+ Posts)
Post subject: Purchasing A Car With A Credit Card
Posted: Sun Oct 30, 2005 7:47 pm

Only risk is will you be able to get another low interest rate when the one you're currently eyeing expires? Especially if you can get those 0% for life BT's, that would be SWEET!! Other options would be great but you just have to keep an eye on your credit and have an exit plan in case you lose your job and your credit starts to plummet, for instance.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Purchasing A Car With A Credit Card
Posted: Sun Oct 30, 2005 8:14 pm

I personally have done it TWICE this year

THE WHOLE THING NOT JUST A DOWN PAYMENT!!!

AMEX DELTA (DOUBLE MILES)

Guest: astounding
Post subject: Purchasing A Car With A Credit Card
Posted: Mon Oct 31, 2005 9:07 am

Does anyone here get a car on a monthly payment plan?

Because that's what the smart financial investors do since they
know that the car's value will depreciated every 5+% every year.

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Purchasing A Car With A Credit Card
Posted: Mon Oct 31, 2005 9:23 am

Isn't any car loan a "monthly payment plan"? I don't know what you're asking here.

Quote:
they know that the car's value will depreciated every 5+% every year.

According to
http://www.safecarguide.com/gui/aff/expenses.htm
Quote:
The first-year depreciation on a new automobile can exceed 35%. On most vehicles it levels out to between 7% & 10% per annum after the first three years.