Can you buy a car with a credit card? - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Can you buy a car with a credit card? The answer depends on the dealership — and your credit limit

That leaves the average buyer of the average new car nearly $14,000 short, even after spreading the purchase around over several cards. The obvious solution is to look for a used car, of course, or a new vehicle that costs less than your credit limit. But even if you do find one that suits your needs, there's still more to consider.

For one thing, not every dealership accepts credit cards for full or even partial purchases. You'll have to call yours and ask to speak to the location's finance manager to determine the specific policy.Even if the dealership has given you the go-ahead and you've determined you can afford to put the entire purchase on credit, it's a good idea to give yourself some wiggle room before pulling the trigger.

Experts particularly advise against maxing out your credit cards for a purchase like this. Not only is it a tricky hole to crawl your way out of, but if an unforeseen cost does end up pushing you over your credit limit, you'll also start incurring all sorts of nasty fees from your banking institution. It's a situation absolutely worth avoiding if at all possible.Luckily, there is another route to consider before going with an auto loan, which can come with high interest rates.

To maximize your rewards without jeopardizing your credit score, you'll want to look for a card that offers a

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If you want to get a 3.5% fee added on, sure

I think it's a great idea. I say go for it.

Yes, Tesla, all online, so you can avoid the car stealership.

Don’t buy a car with a credit card ever?!

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

An inside look at aerial firefighting of raging West Coast wildfires - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Limited-time offer: Business Insider subscription with Brex card - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Who TF would want a business insider subscription Why don't I get this with my AMEX platinum?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Google redesigned Google Pay app to streamline users' access to cards - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Hedge fund investing strategy, stocks to buy for recovery: BofA - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

INSIDER Poll: 52% of conservatives want a SCOTUS pick pre-election - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. That's a majority Not 'her' seat I call BS
Source: BusinessInsider - 🏆 729. / 51 Read more »