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BMW 3-Series (E90 E92) Forum
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Maximum Limit on Personal Checks
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10-18-2005, 07:13 AM | #4 |
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I paid my whole car with a personal check. So I can't see why there would be any limitations.
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10-18-2005, 07:27 AM | #5 |
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no limit. depends on the dealership. I paid by check and down payment on AMEX. I wanted to put everything on AMEX for points but the Finance mgr did not allow it.
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10-18-2005, 07:36 AM | #6 |
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I don't know about the US, but here in South Africa we have a R5 000 000 limit on personal cheques. But...you could always write two cheques if you were buying a R10 000 000 car. (About R6 = US$1)
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10-18-2005, 07:48 AM | #7 |
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I think it all depends on the dealer. I paid 1/2 check and 1/2 cash and they were fine with it.
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10-18-2005, 08:48 AM | #8 | |
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I wish car dealer takes Amex for the total amount. |
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10-18-2005, 09:54 AM | #9 |
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when i bought my car, they would only let me put $500 on my card, then wanted either a personal check, certified check, or wire transfer for the rest. I suppose they would have taken cash too...
FYI, the dealer told me that they won't take credit cards (especially AMEX) for a lot of money because of 2 factors: 1) They have to pay a 2-3% (i've heard closer to 5% for amex) 2) It opens the credit card companies up to liability issues. Not sure exactly how, but it's not "accident liability" issues, it's more of what if someone tries to return the car. |
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10-18-2005, 11:43 AM | #10 |
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depends on the dealer, mine let me use personal check for my entire down payment.
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10-18-2005, 12:52 PM | #11 |
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I was a little irritated that my dealership wouldn't let me put my deposit down with a credit card-due to warrenty liability stuff, but still would have been great for miles. I bet it is more about the fees.
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10-18-2005, 10:03 PM | #12 | |
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My dealer allows upto $5K on the credit card.
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10-19-2005, 09:56 AM | #13 |
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Wow now I am really mad! 2k and they would only take a check
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10-19-2005, 12:13 PM | #14 |
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I put 5k on Amex. Finance manager told me that they would not put any more on CC due to the CC fees as mentioned above. It all depends on the dealership, when we bought ou other car, they allowed 10K on Credit card but the remainder had to be certified check.
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10-19-2005, 12:57 PM | #15 |
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As the dealer about using my credit card for the down payment...he said only up to 1.5k, nothing more....Apparently credit card companies are getting pissed that people are attaining those reward points/miles by making large purchases on their CCs.
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10-19-2005, 03:59 PM | #16 | |
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my personal check. He told me is a BMW policy since january 2005. From what I hear here I think is his dealership policy instead. So I had to go to the bank to get a certified check. As far as concen personal check max there is no limit till the other part is willing to trust you for the 10 days it takes to clear it. I tried the VISA trick too (my VISA gets me backk 1%) but it didn't work (they pay 3% commission ...) fdc
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Departure: Bremerhaven Sept 28, 2005 Vessel: Franconia K-line (http://www.kline.com/PCC-RoRo/schedu...ticshuttle.asp) Arrived at the Port of Charleston at 04:40 on Oct. 10, 2005 Arrived At VPC: 10/11/05 Left the VPC: 10/14/05 3:40pm Arrived at the Dealer: 10/15/05 3:00pm Delivery: 10/18/05 10:00 am |
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10-19-2005, 04:07 PM | #17 | |
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They set a limit of 1-2 K on credit card not because of the reward but because the dealer is not willing to pay 3% to the CC company for the full price of the car. They are willing to pay the 3% on the downpayment in order to get your business immediatelly (what if they ask you for a cashier check for the deposit that you, of course, don't have on you, and you don't came back ?) My dealer accepted my VISA for 1,000 deposit but when I picked up the car (1 month later) no charge was ever done on the card and they asked me to pay the full amount with a cashier check. They didn't even accept my personal check. I asked to pay the full amount with VISA (I get 1% back) but they (not VISA) refused because of the commission VISA is asking them ... fdc
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Departure: Bremerhaven Sept 28, 2005 Vessel: Franconia K-line (http://www.kline.com/PCC-RoRo/schedu...ticshuttle.asp) Arrived at the Port of Charleston at 04:40 on Oct. 10, 2005 Arrived At VPC: 10/11/05 Left the VPC: 10/14/05 3:40pm Arrived at the Dealer: 10/15/05 3:00pm Delivery: 10/18/05 10:00 am |
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10-19-2005, 08:17 PM | #18 |
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Bottomline, I think it all depends on the dealership.
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5-2-08 e93-35 ED Montego w/Jade Grey, Step w/Paddles, PP, SP, CA, hot seats and iPod.Awaing re-delivery soon.
Debadged 330xi ED 11/14/05 Auto/Mystic Blue/Gray leather with Alum/PP/SP/CA/Fold-down rear seats/Alarm. Sold to Carmax on 6/7/08 with 50,624 miles on clock |
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