Paying down payment with a credit card.?

Yes, dealerships will let you put the down payment on your credit card. I have done this myself a couple of times for the same reason as you, to get a lot of reward points.

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RE:

Paying down payment with a credit card.?

I'm about to buy a new car. I was wondering if most dealers would let you put the down payment on a credit card? I know I'll probably have to pay the 2 or 3% fee the credit card companies charge. I would get a lot of points if I use my card for such a large purchase and it would be paid off...

First of all if you can help ot NEVER use a credit card for the down payment. This is a tactic used only be experienced inverstors and even they only use it in a pinch. The next thing is to make you payments on time and always pay even one dollar more than the minimum. Saving for a down payment is goood. In some cases not needed. But it is a nice safety net. As far as your score, make certain that your creditors are reporting correctly. Things like your credit limit being correct and not what the highest amount of money you owed (unless you went over your limit). This will look favorible. To answer your last question, YES. Higher scores can give you the abilty to get no money down financing easier. Particularly of you have great rental/mortgage history. More down and a rocky credit history can be a factor unless you have a foreclosure or bad rent/mortgage history. The rule of thumb in the credit realm is to keep your credit balance below or at 40% of your credit limit. Give me a call

You can but the amount may be limited by the dealer. Depending on the card it could be up to a 4.5% fee. The dealer will not want to incure those fees. You have to ask yourself if it is worth it?

"..............and it would be paid off within 30 days so it wouldn''t cost me any finance charges."

This makes no difference, and still leaves you open to problems if for some reason it doesn't happen. The best way to purchase the car si with cash. You have the control of the deal that way, no dealer games with the financing, add-ons, no interest payments on a note, no finance company wanting to see your proof of insurance or threatening to buy some for you and adding it to your note.

Paying cash for a car is the most economical also. No interest paid out, the dealer meets your price or sees the money walk out the door. You can insure for less, without making payments you can set aside more money easily for a larger deductable.

The proper way to get to the car of your dreams is to buy something now for cash, drive it a while, and when enough additional cash is saved, add it to the value of the car and step up a grade. Do this repeatedly until you get the car you want. And remember, a new car loses about 40% of it's value when you leave the dealer's lot. Buy a 2 yr old, and let some other sucker take the big depreciation hit.

use your card that the best way to go man