Can we use our Credit Card to pay for our auto-loans?

**Huyu** · July 25th, 2013 02:18 AM

Hi sirs,

I'm planning to buy a car, given the high , can we use our credit cards to pay for this? (sayang naman ang points)

Secondary question: does my cc limit have any effect/weight when getting a car loan?

thanks in advance!

**_Cathy_** · July 25th, 2013 03:14 AM

Do you mean charging the total amount of the car or the monthly payments? Any which way, I don't think it's possible.

**boybi** · July 25th, 2013 08:14 AM

During the time na mahaba ang pila sa Ford Explorer and pahirapan pa makakuha, nakakuha yung isang doctor dito and charged the purchase to his credit card. Not sure how true, kwento lang ng isang sales agent ng Ford.

**1D4LV** · July 25th, 2013 08:42 AM

technically pwede, kung aabot yung limit mo. i have a friend who did this.... pambayad downpayment, tapos loaned yung balance. his limit kasi is 500k. tapos after 3 months, he paid off the entire cc balance.

kaya lang think about the interest. car loans from the bank charge around 8% per annum.
credit cards charge 3.5% per month.

**frenchtower** · July 25th, 2013 08:51 AM

There was one instance, I asked the dealer if they will allow me to pay $15k as dp using my credit card. They only allowed me $5K and the rest of the dp I paid in cash. If the dealer allowed me to use my card, I could have paid everything thru it (only because I was rationalizing the quanity of points I could gain). However, I preferred a zero interest in-house financing which my credit card can not match.

I arranged monthly payments taken directly from one of my bank accounts so I won't miss a pay and two years later all is paid.

**vinj** · July 25th, 2013 09:55 AM

AFAIK, with the merchant discount that the dealer has to shoulder with the use of a credit card to purchase a vehicle, chances are a lot may not allow.

**Mguy** · July 25th, 2013 10:22 AM

I did before, at least a part of it. I had a bank guarantee for a certain amount and the rest I had to pay for myself. I used my card to cover the difference which is probably around 60% of the total price of the car.

**_Cathy_** · July 25th, 2013 11:52 AM

Originally Posted by vinj

AFAIK, with the merchant discount that the dealer has to shoulder with the use of a credit card to purchase a vehicle, chances are a lot may not allow.

This is what I thought too. That's 2 or 3% din ata. And that is a significant amount for the cost of a vehicle.

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#retzing

**xwangbu** · July 25th, 2013 03:41 PM

if your card has a balance transfer option with low interest - you can try using it.

**brainmafia_310** · July 25th, 2013 06:21 PM

tried this, yung 90% cash 10 percent lang ang pedeng iCC. kasi machacharge dealer the cost of using the card an automatic binabawas for every transaction nila.