Can I make car down payment through my credit card?
Automobiles are costly. They're usually so costly that people take out loans to pay them off over time. Buyers who are very ambitious, on the other hand, may want to pay cash for their cars so that they can own them right away and avoid going into debt. People who purchase cars with credit cards are sandwiched between those two classes. Yes, it's possible. Is it, however, the right thing to do? This is highly dependent on your credit score and overall financial health.
Some dealers will only allow credit for a portion of the car's cost. Dealerships that accept credit cards for the entire purchase price of a vehicle can specialize in selling used vehicles, which have far higher profit margins and lower overall prices (read: processing fees).
However, there are no hard and fast rules in this case. The right customer will be able to finance a brand-new car with an Amex Platinum or some other card with a high credit cap, whereas others may be denied. It all comes down to you, the vehicle you want to purchase, and the dealership you want to visit.
As previously mentioned, a dealership's rules determine whether or not you can pay for a car with a credit card.
Similarly, down payments are important. While there is no definitive response as to whether a particular payment method would be accepted by a dealership, some will accept a credit card as a down payment. And if you are unable to pay for the vehicle in full with your credit card, this could be the case in some cases. Often, you'll only be able to use a credit card to pay for a part of your down payment.
