Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 09-06-2007, 08:26 PM   #21
Dryer sheet aficionado
 
Join Date: May 2007
Posts: 36
I bought a new JetSki this summer over the phone with a CC. I didn't like the price that the local dealer on the lake was offering, so I looked up nearby dealers and called one. They quoted me a price about $1K less than the local dealer, they took my CC without question, and then they delivered the JetSki to me that afternoon.
__________________

__________________
ExtinctBird is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-07-2007, 12:07 AM   #22
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
i went r+r with a guy over $2k on a cc and 800 cash. They wouldnt budge, i walked out...they stopped me and literally dragged me back in. They asked if I would pay half of the fee. I said no, and walked again because a lady they sent into the room to 'break me down; really pissed me off with her snide remarks. It was a beater work van, so I didnt need/want it too bad.... they called me the enxt day, took the cc, and delivered the vehicle to my place of business. gotta love that
__________________

__________________
thefed is offline   Reply With Quote
Old 09-07-2007, 09:12 AM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by saluki9 View Post
You're telling me that an auto dealer wouldn't care if they were no longer allowed to take VISA? Are you kidding?
The dealer would care, but VISA is NOT going to do anything about it other than look the other way.......

A metro dealer is going to spend $100,000 or more a MONTH in VISA charges, which makes a LOT of money for the VISA folks on those clearing charges. They're NOT going to do anything to upset that applecart.


Quote:
They will do it if you push, trust me, I've done it. I charged $10K which was my limit at the time on my AA Mastercard to buy over half of my girlfriends car. I paid $200 over invoice so they must have had one hell of a holdback on those Civics. It almost came to punches, but they took the card. I didn't take the crap about only allowing $2500 on the card.
Well, you pushed the issue. Maybe the sales manager did it to make you go away, I've done that before.....
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-07-2007, 02:15 PM   #24
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Quote:
Originally Posted by FinanceDude View Post

Well, you pushed the issue. Maybe the sales manager did it to make you go away, I've done that before.....

Yup, I'm always the squeaky wheel!

They gave me their BS at first, but I presented them with the facts and refused to buy the car unless they relented. It's amazing what they can work out when they have to
__________________
saluki9 is offline   Reply With Quote
Old 09-07-2007, 05:56 PM   #25
Recycles dryer sheets
Eyerishgold's Avatar
 
Join Date: Aug 2007
Posts: 222
I all depends on the dealership, some will and won't. I imagine it all depends on how comfortable they are giving a chunk of the sale, up to 1 or 2%, to MasterCard or Visa. That's probably why they limit the amount you can charge on a credit card. Giving 2% of 5k, which is only $100 isn't terrible, but 2% of 30k is $600. That can eat into a dealership's profit pretty quicky.
__________________
Eyerishgold is offline   Reply With Quote
Old 09-07-2007, 07:08 PM   #26
Recycles dryer sheets
 
Join Date: Jul 2007
Posts: 192
What about PayPal? Anyone tried that at your local dealer? My boss recently bought a car on EBay (a 2004 Jeep), he had to fly to Tennessee to pick it up. Obviously I am being facetious, still this thread begs the question...
__________________

NotSoonEnough is offline   Reply With Quote
Old 09-07-2007, 07:45 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by saluki9 View Post
Yup, I'm always the squeaky wheel!

They gave me their BS at first, but I presented them with the facts and refused to buy the car unless they relented. It's amazing what they can work out when they have to

When not just work for a lower price. Let's say you get 1% on your card or equivalent miles and the dealer pays 3% transaction fee. For a 30K car why not pay cash and ask for $500 cash discount?
__________________
clifp is offline   Reply With Quote
Old 09-07-2007, 07:53 PM   #28
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 377
They would loose their butt, because credit cards charge a business a % of the sale.

Not to mention some idiot doing a charge back or something.
__________________
Bigritchie is offline   Reply With Quote
Old 09-07-2007, 08:03 PM   #29
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 377
/rant

By the way, it just drives me outa my mind, how credit card companies act like we the self-employed are so lucky to be able to take their wonderful cards.

I hate credit cards, and for very large catering orders I charge a % markup to cover the cost of the credit card. Had VISA call me once about it, and told them to shove it up their ass. Told them in no uncertain terms, I would run my business the way I wanted, and if they did not like it I would be more then glad to not take their stupid cards and give away 2-3% of my business. They said they were and to this day still mark things up.

Those credit card charges to places cause inflation also, with people raising their prices to cover for it.

Not to mention the idiots using cards and paying 30% interests.

Anyways, sorry, I hate credit cards.
__________________
Bigritchie is offline   Reply With Quote
Old 09-07-2007, 08:08 PM   #30
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
Quote:
Originally Posted by saluki9 View Post
Yup, I'm always the squeaky wheel!

They gave me their BS at first, but I presented them with the facts and refused to buy the car unless they relented. It's amazing what they can work out when they have to
So, according to you the dealer had a $200 profit and lost about $400 to the credit card company.

Jump up and down, yell and scream, If I was handling the deal you'd be outside looking in. Sometimes it feels better not getting the deal.
__________________
73ss454 is offline   Reply With Quote
Old 09-07-2007, 08:39 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
I don't get the obsession with charging stuff like a car. The dealer has to eat too. If you negotiated a tight deal that gave the dealer just enough profit and gave you a good deal, take it and be happy. I'd never charge more than a deposit if I felt like I had a good deal and thought I'd been treated fairly; dealer profit margins are just too thin to eat the card fees. I try to avoid charging stuff with local small businesspeople, too, since they don't usually build the fees into their prices and they usually bend over backward to traet repeat customers well. Only one I end up charging is my mechanic, as its usually a surprise when I need more than a token amount of work done. Hmmm, should start planning to lug cash when I visit the mechanic...
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 09-07-2007, 08:44 PM   #32
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 377
Quote:
Originally Posted by brewer12345 View Post
I don't get the obsession with charging stuff like a car. The dealer has to eat too. If you negotiated a tight deal that gave the dealer just enough profit and gave you a good deal, take it and be happy. I'd never charge more than a deposit if I felt like I had a good deal and thought I'd been treated fairly; dealer profit margins are just too thin to eat the card fees. I try to avoid charging stuff with local small businesspeople, too, since they don't usually build the fees into their prices and they usually bend over backward to traet repeat customers well. Only one I end up charging is my mechanic, as its usually a surprise when I need more than a token amount of work done. Hmmm, should start planning to lug cash when I visit the mechanic...
/hug
__________________
Bigritchie is offline   Reply With Quote
Old 09-08-2007, 05:32 AM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,275
Quote:
Originally Posted by brewer12345 View Post
I don't get the obsession with charging stuff like a car. The dealer has to eat too. If you negotiated a tight deal that gave the dealer just enough profit and gave you a good deal, take it and be happy. I'd never charge more than a deposit if I felt like I had a good deal and thought I'd been treated fairly; dealer profit margins are just too thin to eat the card fees. I try to avoid charging stuff with local small businesspeople, too, since they don't usually build the fees into their prices and they usually bend over backward to traet repeat customers well. Only one I end up charging is my mechanic, as its usually a surprise when I need more than a token amount of work done. Hmmm, should start planning to lug cash when I visit the mechanic...
Sorry to disagree with you... I have to admit this was many years ago, but I did the tax return for a car dealership and it made LOTS of money.. had a 33% profit margin (using net sales)...

AND, it was an owner of car dealerships that owned the Rockets back when they won their championships (don't know who does now)... and all seem to be multi-millionaires... You don't do that with 'thin' margins...
__________________
Texas Proud is offline   Reply With Quote
Old 09-08-2007, 08:39 AM   #34
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Quote:
Originally Posted by clifp View Post
When not just work for a lower price. Let's say you get 1% on your card or equivalent miles and the dealer pays 3% transaction fee. For a 30K car why not pay cash and ask for $500 cash discount?

Because I was already at the lowest price I could get to.
__________________
saluki9 is offline   Reply With Quote
Old 09-08-2007, 08:44 AM   #35
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Quote:
Originally Posted by brewer12345 View Post
I don't get the obsession with charging stuff like a car. The dealer has to eat too. If you negotiated a tight deal that gave the dealer just enough profit and gave you a good deal, take it and be happy. I'd never charge more than a deposit if I felt like I had a good deal and thought I'd been treated fairly; dealer profit margins are just too thin to eat the card fees.
I don't know how many people you know who own dealerships? I know a couple families here that own them and if their margins shrink just a little they might have to go from a 55 foot cruiser down to a 48 footer down at the marina.

The owner of my local Honda dealer drives around in a $250K Ferrari F430 (with a Honda License plate frame) so I don't feel all that terrible about him eating some of my card fees.
__________________
saluki9 is offline   Reply With Quote
Old 09-08-2007, 08:54 AM   #36
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Quote:
Originally Posted by NotSoonEnough View Post
What about PayPal? Anyone tried that at your local dealer? My boss recently bought a car on EBay (a 2004 Jeep), he had to fly to Tennessee to pick it up. Obviously I am being facetious, still this thread begs the question...
I bought a car through e-bay (which deserves a thread of its own) but there was an option of paying the deposit through Paypal.

I chose to do a CC, but it was an option. I had to fly to Dallas to pick the car up which was a fun little trip. Lets just say that I'm not going to be buying any more cars off of ebay.
__________________
saluki9 is offline   Reply With Quote
Old 09-08-2007, 02:31 PM   #37
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,015
Quote:
Originally Posted by saluki9 View Post
I bought a car through e-bay (which deserves a thread of its own) but there was an option of paying the deposit through Paypal.

I chose to do a CC, but it was an option. I had to fly to Dallas to pick the car up which was a fun little trip. Lets just say that I'm not going to be buying any more cars off of ebay.
I don't want to hijack this thread, but I have considered buying cars thru eBay and would like to know of your (and others) experiences. I think I'll start that thread......
__________________
Achiever51 is offline   Reply With Quote
Old 09-10-2007, 09:11 AM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by saluki9 View Post
I don't know how many people you know who own dealerships? I know a couple families here that own them and if their margins shrink just a little they might have to go from a 55 foot cruiser down to a 48 footer down at the marina.

The owner of my local Honda dealer drives around in a $250K Ferrari F430 (with a Honda License plate frame) so I don't feel all that terrible about him eating some of my card fees.
Dealerships are cash cows. However, the BIG money is made on used cars, financing, warranties, and parts and service (50% margins in service and parts) New car front end gross is maybe 10% or so of dealer profit.

Some day I'll break down how the dealer makes money, too tired now, and too busy..........
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Credit card pranks... cute fuzzy bunny Other topics 16 10-09-2007 07:47 PM
Best Bonus for Credit Card Expenitures -Frequent Flyer cards or Cash-back card? ScaredtoQuit FIRE and Money 19 04-21-2007 04:29 PM
Credit Card Question frayne Other topics 14 01-07-2007 06:59 PM
Credit Card Fraud Indexter Other topics 13 06-19-2006 05:59 PM
Credit card games wabmester Other topics 2 12-17-2003 07:04 AM

 

 
All times are GMT -6. The time now is 02:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.