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re: Using a Credit Card as down payment on car

Posted on 7/18/14 at 3:32 pm to
Posted by reb13
Member since May 2010
10905 posts
Posted on 7/18/14 at 3:32 pm to
They probably won't let you.
Posted by Teddy Ruxpin
Member since Oct 2006
39602 posts
Posted on 7/18/14 at 3:33 pm to
quote:

They probably won't let you.



I did it in March.

And if you have the cash on hand, go ahead and put it on CC then pay it off. In fact, this should be standard operating procedure for anyone good with money.

If you don't have 10,000 in cash and you're going to pay interest, and are frankly bad with money, then don't. Pretty simple.
This post was edited on 7/18/14 at 3:35 pm
Posted by Zach
Gizmonic Institute
Member since May 2005
112595 posts
Posted on 7/19/14 at 1:43 pm to
quote:

They probably won't let you.

Lucy bought a new Mitsubishi Eclipse for 20K all on a Visa card before I met her. They'll let you do it if you have a job. I had to take her to the bank and get them to consolidate the loan from 18 percent down to 6. She paid it off in 2 years with zero help from me. She learned her lesson about spending. But occasionally she needs a tutorial and a firm spanking.
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