Purchasing an MCS with an American Express Card?

[Ibb]

I'm thinking aout doing that as I have enough saved up money in cash to buy an MCS, but if I purchase with my AMEX I get some cashback and will have enough points to get a flight ticket to a desired place of my choice. Oh and I have a 1month free interest period too, so I'd just put it in saved money at a later date.

This is the bit I'd like to know, do dealerships charge a surcharge eg: 4% for using an AMEX card?

I hope they don't otherwise that would suck.

Thx for your help in advance

[Jones]

Probably! Amex is not very well liked over here. I have two Amex cards both credit and charge and not many places like them!

[KenL]

Don't know about AMEX but my dealer said I would have to pay 2% extra if I bought my car on VISA.

[Ibb]

Quote: Originally Posted by KenL

Don't know about AMEX but my dealer said I would have to pay 2% extra if I bought my car on VISA.

Oh man that sucks, I'll see how they like it when I say I either buy the car right now and you don't charge me extra, or I'll go elsewhere/or won't buy the car at all.

Knowing my luck that probably won't work.

Thx soo far, keep the replies coming in!

[markjenn]

AMEX has some of the highest card fees to the merchent. If they say they'll eat the charge to earn your business (unlikely) then they'd just as easily discount the car by whatever the fee is, probably 4% or so. IOW, that "free ticket" really costs you $1K.

There is no free lunch.

- Mark

[Racer]

I've tried to buy 3 cars on AMEX the dealer has refused in all cases - when challenged and threatened with going to AMEX to have there ability to accept it removed they have either given additional discount OR they have said they will take it but that I couldn't have the originally agreed discounts / freebies - Typical AMEX merchant charges can be as high as 8%

[andyupnorth]

If they let you buy it on Amex it's the same as them giving a discount -and we all know MINI dealers don't give discounts! Also you'll look a bit of a fool if you bluff that you are going to go elsewhere and they call you on it. I'm sure they could sell the car easily to the next buyer.

[jasonfields007]

merchant fee's suck for AMEX. we don't take them cos of this. dealers will almost definately charge for payment by AMEX but best to give them a buzz n ask.

J

[Lee Bradshaw]

Quote: Originally Posted by Ibb

Oh man that sucks, I'll see how they like it when I say I either buy the car right now and you don't charge me extra, or I'll go elsewhere/or won't buy the car at all.

Knowing my luck that probably won't work.

Thx soo far, keep the replies coming in!

I'm a retailer and would never take Amex. The charges are a joke. If you've got enough cash to buy it in cash, (you can see where this is going...) why don't you buy it in cash?

If i take £10000 on a credit card i'd pay up to £400 in charges.
If i take £10000 on Amex i'd pay up to £1000 in charges. (!)
If i take £10000 on a debit card i'd pay 27p in charges.

Stick it on a debit card but explain what you'll lose out on by not paying Amex and he may help you out. I'd rather give £300 to you than give £301 to a credit card company.

[jasonfields007]

my charges are 2.1% for card (mainly Visa/Mastercard) and 30p fixed for debit cards (Switch/Solo/Delta/Electron).

it does depend what merchant company the dealer is with. I assume the dealers have very good rates as the transaction amounts are so high.

J

[bobnobski]

well I brought our MCS using my Tesco Card, and its paid for my xmas shopping for the next 5 years!!!!

[johnlondonw3]

Put the cash into a high interest savings account eg ING,if you've got a credit card check write it out to the amount you need to yourself pay it into your bank account ,then draw it out in cash and pay for the car ,or write out a personal check to the dealer ( I did the cash thing only because I was short of time for the cheque to clear.
Then switch the balance of you credit card to a card offering the longest interest free period ,when thats about to run out switch it again and so on untill you want to pay it off.

During the interest free period your earning interest on the cash you have in the high interest Savings account .

[andyupnorth]

Quote: Originally Posted by johnlondonw3

Put the cash into a high interest savings account eg ING,if you've got a credit card check write it out to the amount you need to yourself pay it into your bank account ,then draw it out in cash and pay for the car ,or write out a personal check to the dealer ( I did the cash thing only because I was short of time for the cheque to clear.
Then switch the balance of you credit card to a card offering the longest interest free period ,when thats about to run out switch it again and so on untill you want to pay it off.

During the interest free period your earning interest on the cash you have in the high interest Savings account .

Will you be my accountant??

[johnlondonw3]

Quote: Originally Posted by andyupnorth

Will you be my accountant??

Only if the Toon win tonight !
Im excilled down here for the past 25 yrs

[Jones]

Quote: Originally Posted by johnlondonw3

Put the cash into a high interest savings account eg ING,if you've got a credit card check write it out to the amount you need to yourself pay it into your bank account ,then draw it out in cash and pay for the car ,or write out a personal check to the dealer ( I did the cash thing only because I was short of time for the cheque to clear.
Then switch the balance of you credit card to a card offering the longest interest free period ,when thats about to run out switch it again and so on untill you want to pay it off.

During the interest free period your earning interest on the cash you have in the high interest Savings account .

Chances of getting a 0% card with a £20, 000 limit are slim to none! Not a reflection on the applicant but 0% Credit issuers will very rarely give out an immediate huge credit limit!

I work the "0% shuffle" every few months and you can make a quid or two!

Jones!