Buying Advice Purchasing a tractor on a credit card?

[TractorNH]

If a dealer were willing to accept a credit card for a big ticket purchase without wanting to add a fee then I'd be asking for another 5% off if I pay in cash.

 

[Streetcar]

I had a friend buy $600000 worth of precast arches on credit card . Same price as cash so he used his card

 

[Industrial Toys]

I would have asked for a discount if they were willing to do that.

They must have had quite the large profit margin to work with.

 

[fried1765]

If a dealer were willing to accept a credit card for a big ticket purchase without wanting to add a fee then I'd be asking for another 5% off if I pay in cash.

You might be "asking" .....but I doubt that you would get it!

I have a VISA that gives me 5% on gas,groceries, and drugs, up to a $400 max rebate for the year.
So.....I charge up to $8000 on it for the year, and then put the card away.
Another VISA card gives me 2% back on everything- no limit.
I also use that for gas, groceries, and drugs when the 5% card has reached the $8000 5% limit.
Each year I get about $1200 in cash rebates.

I don't buy things with zero percent interest, because I know then that the selling cost already has the interest baked in.

Of course, I pay off each balance monthly.

 

[Industrial Toys]

SMART. Too bad, so many people are so clueless about finances. So I guess they take 5% from the Merchant, give you 2% and make 3%, or something like that. But are really hoping that you run afoul.

 

[jaxs]

Me and a salesman were $500 apart when he took the deal to the boss. He came back and said he could meet my price if I financed with them. I took it and paid it off the next week.

 

[mred2]

Credit Card fees are about 2% to 4%. Except American Express is higher. Not sure on amount. It is now legal for companies to charge the CC fee to the bill for you to use the card as long as they post the fees. In business, I always gave a discount for cash. Made me a lot happier.

 

[KennyG]

I had a friend buy $600000 worth of precast arches on credit card . Same price as cash so he used his card

I assume that credit card was a special corporate account. I think the fee structure is different on those. I'm sure consumer cards don't go that high on limits.

 

[Jstpssng]

I tried to buy a used snowsled last year on a 0% promo card; as others have said, the dealer selling it have charged me extra.
What I find ironic about this discussion is that there are places which won't accept cash. Also, in another thread some time ago I alluded to people who will put a cup of coffee or some other minor item on a credit card, and got jumped all over for saying that it costs the vendor money, based on what store owners have told me. I have even seen them give away coffee because it's cheaper than running the card through.

 

[jcbGM]

I tried to buy a used snowsled last year on a 0% promo card; as others have said, the dealer selling it have charged me extra.
What I find ironic about this discussion is that there are places which won't accept cash. Also, in another thread some time ago I alluded to people who will put a cup of coffee or some other minor item on a credit card, and got jumped all over for saying that it costs the vendor money, based on what store owners have told me. I have even seen them give away coffee because it's cheaper than running the card through.

Think of this. 5% on a $2.00 cup of coffee is $0.10. The gross margin on the cup of coffee is probably 70%. The issue is that your tractor dealer only making a 8-10% gross profit. Can’t give away 5% if your only making 8% (leaving the dealer just 3%)