Can You Pay Car Down Payment With Debit Card
| "What year is it?" Tribus: Novi Eboraci Area Registered: Apr 14, 2003 Posts: 4834 | |
| We're going to buy a new car soon. Which car you ask? Wrong thread I answer. I don't have any checks as I bank entirely online and they just send checks to people. The 3 times in the past 5 years I've needed paper checks I just went to the bank and got a bank check. What do I do when I want to put a down payment on a car? I have the cash in my savings account. I just want to give it to them via my debit card. Does this happen? The last car buying experience was 10 years ago. I don't know how that world works. |
| "Fidus et Audax" Tribus: Milwaukee, WI Registered: Jul 17, 2000 Posts: 25399 | |
| You can and I have, but it doesn't hurt to call your bank before making the purchase. Some banks might have flags pop up at $5,000 or something. Better safe than sorry. I called and found that it wasn't necessary when I bought my car, but it was only a $2,000 down payment. |
| Ars Legatus Legionis Tribus: Now with more Moral Reprehensiveness! Registered: Jan 29, 2004 Posts: 25252 | |
| How about have them send you a cashiers check? |
| "Eclectic & Indefensible" Tribus: Hoos' posting is like Hoos' love: hard and fast. Registered: Aug 30, 2007 Posts: 46085 | |
| Just call your bank first, to avoid drama. There is a per day limit on debit card charges. I think it is $2,000 or $2,500. Don't know if it can be waived. |
| "Fidus et Audax" Tribus: Milwaukee, WI Registered: Jul 17, 2000 Posts: 25399 | |
| It can be, that was made clear to me. Just call them. |
| "Falco sparverius" Tribus: 5280' Registered: Feb 20, 2009 Posts: 10208 | |
| I put part of the down payment on a credit card (they only let me do $3k and I had to write a check for the rest). A cashier's check would work, but I think a debit card would be more convenient and more secure (no risk of losing it or getting mugged or whatever on the way to the dealership). |
| "Eruditio et Basketballio" Tribus: Harlem, NYC Registered: Aug 6, 1999 Posts: 43037 | |
| If the dealership is down with it, use a proper CC and pocket the rewards. I just did so via our realtor. |
| Ars Legatus Legionis Tribus: Somewhere under the rainbow Registered: Oct 7, 2002 Posts: 42887 | |
| I started my lease that way. I asked the dealer, and they said sure, without batting an eye. Then again, it was in the hundreds of dollars, not thousands. I agree with the other comments that you should clear it with the bank. Something for several thousand dollars would almost certainly hit my bank's fraud detectors. |
| "I'm going to try SCIENCE!" Registered: Mar 25, 2003 Posts: 7263 | |
| 1.) Withdraw cash in small bills. Also: -mhac³ |
| Ars Tribunus Militum Tribus: Canada Registered: May 1, 2002 Posts: 2222 | |
| At least up here, debit cards have a per day cash withdrawal limit and a per day purchase limit, as well as a single purchase max value. They are all controllable and adjustable by your branch. For example, I have a $1000 per day cash limit, and a $5000 per day purchase limit, with a single purchase maxed at $2000. But really, the best advice is to use a rewards credit card and collect the points. Pay it off before there is any interest and it is like free money/miles/points etc. If the dealership would have let me I would put the entire purchase cost of my car on a credit card...but they only let me put $2k. |
| "Brain Damaged" Tribus: DFW, TX Registered: Jan 22, 2004 Posts: 52628 | |
| You can and I have, but it doesn't hurt to call your bank before making the purchase. Some banks might have flags pop up at $5,000 or something. Better safe than sorry. I called and found that it wasn't necessary when I bought my car, but it was only a $2,000 down payment. This is my experience also, albeit with buying motorcycles. You'll almost certainly get flagged for fraud, so either call the bank ahead of time, or be ready to answer the phone when they call and explain that yes, you really are buying a car so they'll release the funds. |
| "Let there be Bacon." Registered: Mar 26, 1999 Posts: 19608 | |
| Some will. If you have a bank branch you can go into, you can have them create a draft or bankers check - bascially a printed check with the exact amount on it. source - I use to pay my rent that way. |
| "The 'b' is silent." Tribus: Between El13Abeth and Brick City, NJ Registered: Dec 21, 2005 Posts: 17454 | |
| You know you could give them actual cash, too. That's what I did when I bought mine. I know 'real' money is a foreign concept for some people. |
| "Live young. Die fast." Tribus: entia non sunt multiplicanda praeter necessitatem Registered: May 16, 2001 Posts: 83651 | |
| Can. Have. No issue. |
| "Just call me Rocky" Tribus: 低三噚港, 新斯科舍省 Registered: Nov 13, 2005 Posts: 16548 | |
| I was actually quite surprised that I could put $2000 down using my credit card when we bought our car. It was worth it for the points because we had the cash to just pay off the card right after the transaction was processed. |
| "Omnishambles" Tribus: Houston, TX Registered: Jul 14, 2003 Posts: 7058 | |
| I was actually quite surprised that I could put $2000 down using my credit card when we bought our car. It was worth it for the points because we had the cash to just pay off the card right after the transaction was processed. My parents put my sister's college tuition on their CC back in the day. Same deal, had the money, collected mad rewards. |
| "Eclectic & Indefensible" Tribus: Hoos' posting is like Hoos' love: hard and fast. Registered: Aug 30, 2007 Posts: 46085 | |
| This thread now has me envisioning new horrors in car buying. You dance the dance of the lowest price, you successfully resist the urge to break out the Fist of Doom on an oily car salesperson, and you get through all the paperwork. Only to be faced with: A line at the POS terminal to make your downpayment...a line that's being held up mainly by a 90-year-old person who has never before used a debit card and "What's a PIN?" or The "There was over twenty million dollars in that account last night. Don't tell me there's not enough money for a downpayment. You run that card again" person or The "I'd like to put $100 on this card and $300 on this card and $50 on this card and pay the rest with this red wagon filled with dimes" person or Well...you know the people. All the people. |
| "Beard Fightmaster" Registered: Apr 27, 1999 Posts: 20174 | |
| I was actually quite surprised that I could put $2000 down using my credit card when we bought our car. It was worth it for the points because we had the cash to just pay off the card right after the transaction was processed. My parents put my sister's college tuition on their CC back in the day. Same deal, had the money, collected mad rewards. I do this with a number of monthly bills. Rack up enough for a nice vacation every year. |
| "Just call me Rocky" Tribus: 低三噚港, 新斯科舍省 Registered: Nov 13, 2005 Posts: 16548 | |
| The reason I got rid of our points cards is mainly because my school stopped taking credit cards for paying tuition. I was easily getting two free flights a year before that whenever I took more courses than my office paid for. |
| "________" Registered: Jun 6, 2000 Posts: 15966 | |
| It depends on the Dealer. A lot of them will take the first payment via credit card because a fake check and car driving off the lot has been done a lot more often than credit card fraud. But after that you should be able to setup your bank with auto-check payments or they'll should have some ACH setup where they'll request it straight from a checking account. |
| "What year is it?" Tribus: Novi Eboraci Area Registered: Apr 14, 2003 Posts: 4834 | |
| So you're saying I should call my bank? Good to know. Thanks! We're attempting to just straight up not use credit cards anymore. My debit is technically also a Visa. I could just move the money to Checking but I want to put down like 5k. Best not to look like I'm cooking Meth or something and give the bank a heads up. |
| "Live young. Die fast." Tribus: entia non sunt multiplicanda praeter necessitatem Registered: May 16, 2001 Posts: 83651 | |
| Quote: Best not to look like I'm cooking Meth or something and give the bank a heads up. I note that you didn't specifically state you aren't cooking meth. |
| "I like chocolate milk" Registered: Feb 9, 2000 Posts: 14098 | |
| /me makes a note in the margins of The_Mighty_Squid's Papal records, using red ink: "May be cooking meth; using 'vehicle purchase' to cover things up. Yeah, right! WTF has their own car in NYC?" |
| "Fidus et Audax" Tribus: Milwaukee, WI Registered: Jul 17, 2000 Posts: 25399 | |
| I'd just assumed that she'd exhausted all other methods of vehicle purchase through her 10 month used car flipping laundering scheme for her majestic meth lab. Yeah, you can use a debit card. |
| Ars Praefectus Registered: Jan 18, 2001 Posts: 4246 | |
| You know you could give them actual cash, too. That's what I did when I bought mine. I know 'real' money is a foreign concept for some people. None of the dealerships around here will take more than a couple of hundred dollars in cash. Too much risk of getting robbed. |
| "so alone and terrified" Tribus: Austin, TX Registered: Sep 1, 2004 Posts: 15138 | |
| You know you could give them actual cash, too. That's what I did when I bought mine. I know 'real' money is a foreign concept for some people. None of the dealerships around here will take more than a couple of hundred dollars in cash. Too much risk of getting robbed. I want to buy a car with a duffle bag full of singles. |
| "Eclectic & Indefensible" Tribus: Hoos' posting is like Hoos' love: hard and fast. Registered: Aug 30, 2007 Posts: 46085 | |
| When I bought my car a couple of years ago, the salesman told me about an older couple that came in for a new car a week or so before. They shopped around, found the car they wanted, went to their old car, returned with a backpack, and paid the full amount with cash out of the backpack. |
| "Allergies?Hard work and discipline" Tribus: Irvine, CA (formerly Vault Dweller, Arsclan: Space Goat) Registered: Jul 19, 1999 Posts: 24946 | |
| I bought a couple used cars with cash (10k+) before. It fit in an envelope but I still felt like a robber baron. Last time the idiot teller was visibly annoyed because she needed to get a supervisor to get the cash. |
| "You're Not My Supervisor!" Tribus: George Washington Slept Here Registered: Oct 6, 2002 Posts: 31103 | |
| I paid with cash once. I knew what I wanted to pay for the car, and made an offer, based only on what I had on me, which they somewhat nervously, but quickly, accepted. |
| "I like chocolate milk" Registered: Feb 9, 2000 Posts: 14098 | |
| I want to buy a car with a duffle bag full of singles. Do you also want to wait for 7 hours while they count and recount? (Not to mention the amount of time it'll take them to figure out what they're doing before they get to that point.) If I were to ever pay in cash, it'll be using the smallest number of individual bills possible. |
| "The 'b' is silent." Tribus: Between El13Abeth and Brick City, NJ Registered: Dec 21, 2005 Posts: 17454 | |
| Maybe it's a local thing? They didn't bat an eye when I gave them the cash ($5000). Never crossed my mind that they wouldn't take it. I suppose they had a drop safe to deter robbery. |
| Ars Tribunus Angusticlavius Registered: May 15, 2007 Posts: 7261 | |
| I want to buy a car with a duffle bag full of singles. Then ask if they'll throw in the undercoat and the floor mats if you strip. |
Can You Pay Car Down Payment With Debit Card
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