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05-20-2008, 12:31 PM | #89 |
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So, after finally listening to everyone, and reading, and re-reading the fine print, it turns out that the dealer/SA is correct in saying that there is no surcharge for the use of convenience checks......FOR THEM! There is a surcharge of 1.75 - 3% of the amount of the convenience check (depending on the CC company), which is charged to the consumer. In addition, the use of convenience checks does not accrue points, miles, etc. Bummer. I guess I'll suck it up and pay the maximum allowed by the stealer on a CC. I don't think I'll argue the whole violation of the Visa agreement point, as they'll end up servicing the car, and I'd prefer to maintain the congenial relationship I currently have with them.
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05-20-2008, 12:40 PM | #90 | |
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Another aspect that negatively effects your score is a high overall balance on revolving credit. I think they look for $1000 and under. |
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05-20-2008, 12:44 PM | #91 |
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I was hoping someone would make the dealer honor their contract. I couldn't get away with violating the terms of my contract with the dealer without incurring many excess fees and a hit to my credit score, so why can they get away with choosing to not stick to the terms of thier contract?
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05-20-2008, 01:20 PM | #93 | |
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By the way that was the first post. And according to Visa who wrote the Rules for Visa Merchants the dealer would have to accept Visa for all transactions. It would be like going to Best Buy and them not accepting cards for TVs. If they will accept a $1 charge they have to accept a $40,000 charge.
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05-20-2008, 01:28 PM | #94 |
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"And according to Visa who wrote the Rules for Visa Merchants the dealer would have to accept Visa for all transactions."
That's not exaclty what VISA says (see the extended text of their rules above). They must accept a CC for goods priced normally and cannot adjust the price upward if the CC is offered. If the dealer is offering the product at less than MSRP, the rules appear to permit more leeway to the Merchant. Jack |
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05-20-2008, 01:38 PM | #95 |
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True enough Jack, however for pwillcuts he would stand to make a better deal by purchasing at msrp and using a card than taking the 500 dollar discount. Either way, the dealer will make money on the deal, so I don't feel sorry for them in the least. It is simply the cost of doing business. Maybe if he got a substantial discount but 500 dollars was no real gift from the dealer. At any rate, that is the negotiated price so I feel the dealer should take the card at that price. Whether it was marked Cash or Finance on the buyers order.
*edit* Also, 'priced normally' doesn't necessarily mean msrp, if the average buyer pays less than msrp then wouldn't the normal price be below msrp? It goes on to say they can't adjust the price upward if the CC is offered. I don't necessarily think this means the dealer doesn't have to accept the card, I think it means they can't jack up the price.
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05-20-2008, 01:39 PM | #96 |
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The only leeway they seem to have is that they are allowed to offer "cash discounts". So if you got the car for less then MSRP then they can simply claim that is the cash discount. I'm paying full MSRP for my car, so if they give me any crap over using my Visa for my $10K down payment then I'll make sure to bring up this point. At the very least I'm hoping I can use it to negotiate some free swag, like floor mats and an aluminum pedal kit.
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05-20-2008, 01:43 PM | #97 | |
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if you wrote out a contract for a CC deal they would have to take the CC...but they would not have to give a discount.... |
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05-20-2008, 01:44 PM | #98 | |
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you make a good point...but let me ask this... is the dealer required to take as much as a down payment as the buyer likes????? |
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05-20-2008, 01:47 PM | #99 |
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There is no option for CC, so what was the OP supposed to do? The dealer should have this as an option on their standard contract because it is a viable payment option do to their merchant agreement. Its absence creates room for the buyer to assume that a CC payment falls into the Cash catagory because it is not a car loan or dealer financing. I see this as the dealer trying to pull a fast one on uninformed consumers and therefore if an informed consumer stops by, the dealer can eat crow for all I care.
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05-20-2008, 01:48 PM | #100 | |
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05-20-2008, 01:51 PM | #101 |
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I would call VISA and they will discontinue allowing the dealship to accpet the card at all.
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05-20-2008, 01:52 PM | #102 | |
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05-20-2008, 01:54 PM | #104 |
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Thats not just credit extended by a CC company, that would include any personal lines of credit as well.
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05-20-2008, 01:57 PM | #105 |
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Cash in legal speak is not the same as cash in leymans speak.
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05-20-2008, 01:57 PM | #106 |
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05-20-2008, 02:05 PM | #107 |
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In progress.
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05-20-2008, 02:06 PM | #108 | |
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a cash contract could be interpeted as meaning you bring cash and only cash....and at the dealer discretion they may accept a certified bank check or wire transfer.... like i posted earlier...each state is different and it's open to interpertation... but you not going to screw the dealer using VISA on your side if you marked down a cash deal.... |
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05-20-2008, 02:11 PM | #109 | |
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05-20-2008, 02:40 PM | #110 | |
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Again, that is the way you interpet it...other states and other courts may feel differently.... i say, and as others have already detailed here...the dealer can refuse the payment by CC...i say especially if you sign a contract for cash payment.... i have posted this before...I have seen many people write and ask about paying for a car totally with a credit card...and they include the threats to the dealer... so far I have never seen one poster come back and say they were able to do it....where's all the legal action? |
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