flipside909

Sorry to get your hopes up. Nope. $5k is the most i've ever heard on a down payment at any particular dealership for a credit card transaction. This is to avoid fraud of many things. Imagine someone putting $45k on their AMX card and then contesting the charges. Dealerships won't do such a thing.

MatadorIS

My dealer allows up to $5K on a credit card. I put $1K for my deposit and just put another $5K (took some convincing) because of the bonus rewards for the Lexus Visa card during the December to Remember event. Now, I just have to hope my car makes it here before the end of the month.

Dr C

I put $5,000 on my AmExp card (which translates to 8,000 frequent flyer miles). Paid the rest by personal check.

AsianGirl007

iTrader: (1)

Lexus of Glendale is the highest I've seen here, it's $5,000.

tim817

That's what i did too... but they only let me pay only $5,000 max for credit card.

SilverBolt

Take in the cash and freak them out. Walk in with $40k in dead presidents and they will not know what to do with it. I was with a family membere that did that with a custom bike. The place wasn't giving him the time of day because he didn't look like he could afford a $50k bike. They actually called in the police when he layed $50k on the counter. The money was 100% legit but the reaction was priceless.

Don't expect a discount for paying with cash. It used to be a good thing. Now the dealers make most of their profit from financing.

rominl

iTrader: (4)

liz, i am soooooo getting my next car from lexus of glendale!

TimboIS

I called my cc company. If they're an authorized visa/amex/mc merchant they can't enforce an amount restriction (aside for your own credit rating) according to the cc company. If they do, then they are in violations of their cc merchant agreement. It's no different than going into a high end jewelry store to buy a $40K Rolex, etc.

AsianGirl007

iTrader: (1)

Now try calling your dealership and ask them how much will they take on a cc.

flipside909

I guess all car dealerships...specifically Lexus dealerships are in violation as every single one has their own company policy on how much you can put on a CC towards a purchase/lease of a car. Hate to say it but your CC company is not the dealership.

NINEZeRO

Dealerships do make more money if the customer finances but if you count time value of money that diffrence is not that much and plus dont you think any business would like to make a quick profit on their investment. Any business big or small would rather collect their A/R as fast as possible. I think those salespeople are just acitng like they wouldn't want cash payment.

I once was shopping for a 2005 BMW M3 for a family member (who was going to pay cash), and I got up to $7000 off just over the phone.

I too heard few dealerships say that they rather have me finance the car (after they found out that I was trying to get a discount), i think its complete bs, like i mentioned if you count time value of money and the fact that any business needs free cash flow, a customer who pays cash is definiltey a plus for a dealership.

If the salesman says cash payment is not good for them, try talking to the manger in person.

r00kie

My parents just purchased a Honda Odyssey (sp?) and they were able to write a check they received from the CC for $7K down payment with no problems. Not sure if they view the CC check differently than the actual CC card.

flipside909

Check payments are treated differently than credit card transactions.

al503

Your CC company is right. However, the dealership can refuse to do business with you for that reason as declining to take a cc payment over a certain amount is not constitutionally protected.

lex430

Some good suggestions, but I think abit off the original question that was asked. Instead of walking into the dealership and negotiate with the sales dept. Do some research online, understand the options, color..etc that you want. Then contact the fleet managers and do your negotiations all over the phone, pending on the number of dealers you call, it should not take more than a few hours. Once you cement the deal, all you need is walk into the dealership to sign the paperwork and pick up your car, and that should not take more than an hour. You can pay however you like. Best buying experience you'll have. I've bought my last 3 cars this way, and helped few other friends also. I have not dealt with a sales person in years, and never will again!

I remember Edmunds had a good article on fax negotiation, there should be variety of others. Good luck.