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Message
buying a car using GM's credit card points
Posted on 8/28/09 at 4:29 pm
Posted on 8/28/09 at 4:29 pm
(this question is for my mom) say you have 6k to use towards a car. do you have to put the whole car on the card? is it towards new cars only? are there any stipulations, or anything else she should ask about?
thx
thx
1
Posted on 8/28/09 at 5:01 pm to Jabberwocky
No, you do not have to buy the car with the card and I'd be surprised if you could with credit limits and the fact that the dealer does not want the car on a credit card.
It is only for new cars.
If you have $6k of GM card credit then they have relaxed the limits. I was barely able to acquire $6.4K back in 1999 at which point they cut the annual credit limit in half and also limited the number of years that you could accumulate credit. I bought a new Olds Intrigue that year (great car, still have it) and tore up the card.
Do not tell the dealer you have the credits until after you have negotiated the price. They may be less likely to cut a good deal if they know your mom is locked in to GM.
If your mom has $6k in credit then
.
It is only for new cars.
If you have $6k of GM card credit then they have relaxed the limits. I was barely able to acquire $6.4K back in 1999 at which point they cut the annual credit limit in half and also limited the number of years that you could accumulate credit. I bought a new Olds Intrigue that year (great car, still have it) and tore up the card.
Do not tell the dealer you have the credits until after you have negotiated the price. They may be less likely to cut a good deal if they know your mom is locked in to GM.
If your mom has $6k in credit then
.
Posted on 8/29/09 at 1:26 am to Tigris
Depending on when she got the card could affect how much money she can get off the car. I have one which has no limit on the amount of money I can accumulate a year, but I am limited on how much I get off the car (usually between 1,500 and 3,000). My dad has an older card and he has no limit on how much he can get off the purchased car. He can only accumulate $500 a year on the car though.
Posted on 8/30/09 at 8:44 pm to cdl2006
On every gm vehicle there is a limit. The most I've seen in the past few years that you will be able to use is around $3,000 towards the purchase.
Posted on 8/30/09 at 8:51 pm to basiletiger
Funny you bring the up, my father-in-law and I had a conversation about this at lunch today.
He said he had like 5k on his and they now let you use the whole amount instead of the previous 3k limit. He is very informed in money matters so I wouldn't think he wouldn't be wrong about this.
He isn't thrilled about buying a GM product right now, but with 5K right off the top he is going to do it against his will.
He said he had like 5k on his and they now let you use the whole amount instead of the previous 3k limit. He is very informed in money matters so I wouldn't think he wouldn't be wrong about this.
He isn't thrilled about buying a GM product right now, but with 5K right off the top he is going to do it against his will.
This post was edited on 8/30/09 at 8:52 pm
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