Using Credit Card for Down Payment!?

[Dj B]

Has anyone used their CC for their down payment? I am putting down about 20k and need to use my CC for the points, but the DS sent a general email outlining that it would need to be done via bank transfer. Anyone who has taken delivery have any insight?

 

[deque]

You can't put your downpayment (minus the $2500 reservation) on a CC. They would get charged credit card processing fees (~3%) on all 20k if they let you put it on your CC. That would cost them $600+.

 

[jbcarioca]

YMMV. I put my reservation on a CC and the confirmation too (2014, though). The final payment I wired.

 

[LosAngelesDude]

Except the deposit amount, So they don't let you put any amount on the CC?

 

[MrRandyB]

I have tried to do this before also for the points, usually there is some sort of limit that is imposed by the entity selling the vehicle. I purchased a GLK and was allowed to do $5K on a CC only.

 

[hmmm]

Only deposit amount for me too. These CC processing fees would add up quickly.

 

[Dexter]

I am putting down about 20k and need to use my CC for the points

Yes, it would be nice to get all those points, but those points are paid for from the fees the merchant is charged for the credit card transaction. You can use a credit card for the initial deposit, but not for the remaining amount of the down payment.

 

[Jay MX]

The only thing Tesla accepts credit card payments for related to new purchases is the deposit. All subsequent payments must be made via a personal check (which they do an EFT on), or a cashier's check. They do not accept credit cards during the delivery process at all.

 

[Darryl]

They won't accept credit card for down payment only check or bank transfer.