For dealers to pass on their fees if you want to buy a 10000 dollar sportbike on a credit card. I mean seriously what a crock. I bought my first Busa in 05 and he didn't give me any of that guff. Now I am buying an 07 I put 500 down got the bike for 10600 out the door and then he tells me that if I am paying with a credit card that I have to pay 2 percent per 4000 dollars. thats like 5 percent. WHAT A CROCK!! Buisnesses if you don't want to pay the fee THEN QUIT ACCEPTING CREDIT CARDS. Passing these ridiculous prices on to us is not making me want to buy this damn thing! Actually this is becoming more of a pain in my arse then it is worth. Paying the measly 3percent which is prolly what the actual card is charging them would be one thing but then trying to make a buck off of it. I mean the guy had the bike sold as soon as I got the check from my other company to make the trnsfer so i could put the damn thing on one card. So my guess was I had a new 07 in black in roughly about 10 days. i locked the deal up and then boom I get hit with this crap!!! Oh boy and of course I don't think that discover offers a balance transfer check that would make out to me. My other cards do but I don't think that discover does.
Is it normal?
- Thread starter Fire95Z28
- Start date
i've never heard of anyone doing that and i know several people who have maxed out their credit cards when buying cages and paid it off the first month just to get the points...you might try calling the credit card company to see if what the dealer is doing is even legal, they may be able to point you in the right direction to get some info...doesn't seem like a good business practice to me...if they accept credit cards, i would think it should be across the board...good luck and let us know what you find out
i payed down with a credit card on mine, they did not want me to put alot down with it. i think i ended up with 250 down on the card.
what there telling you sounds unethical to me.
what there telling you sounds unethical to me.
landmissle
Registered
Its legal. I take cards in my business. And I charge 3% for cards. I'm up front about it before my customer pays. Cash or checks don't cost me anything. A credit card transaction cost me 2.4% of the sale and 40.00 a month to lease the machine. Plus the funds don't show up for 2 to 3 business days. Business's have to pass these costs on to their customers or they wouldn't be in business.
Now when I paid for my busa recently I paid 6K in cash and 3500 with a card. I told this to them up front figuring any fees would be worked in.
Now when I paid for my busa recently I paid 6K in cash and 3500 with a card. I told this to them up front figuring any fees would be worked in.
Discover does offer checks, but there is usually a fee for those that may or may not be capped depending on the offer.
Call them up and ask for a "purchase check" or a "special transfer check" make sure that the balance will go to your purchase or balance transfer rate and not the cash rate.
Call them up and ask for a "purchase check" or a "special transfer check" make sure that the balance will go to your purchase or balance transfer rate and not the cash rate.
It's legal, but frowned upon by the card companies. Charge me a fee and I'm down the street. It was a choice the business made. Was it posted on the door near the VISA/MC stickers that they want 5% extra if you use your card?
Bought a BMW once on a card, the dealer didn't blink.............
BTW - my businesses take cards too. Our average transaction is $7500, cost of doing business in my book.
Bought a BMW once on a card, the dealer didn't blink.............
BTW - my businesses take cards too. Our average transaction is $7500, cost of doing business in my book.
That's the key here. If the customer knows up front, it's one thing. But to have the deal made and then get surprised with another fee is something else.
When did Visa/MC change their rules by allowing surcharges? I thought that ended in 1984? It's also illegal in 10 states.
Even so I see no problem with a dealer not wanting a large purchase put on a card, especially if they are stand up enough to give you a really good deal. The price of the bike isn't fixed like their parts sales and accessories.
When I bought my bike the dealer sold it to me for $9700 OTD. If I put it on my American Express then he would have killed off most if not all of his profit. Furthermore it would have been paid off as soon as I got home and logged into my account so it would have been cutting into his profits for my own convenience.
If someone can't afford the toy and must use a CC, then the dealer shouldn't give them a break in the price of a bike. If the dealer worked with you and gave you a really good price and you want to use a CC to save the drive to the bank or rack up points...well that's just wrong.
Even so I see no problem with a dealer not wanting a large purchase put on a card, especially if they are stand up enough to give you a really good deal. The price of the bike isn't fixed like their parts sales and accessories.
When I bought my bike the dealer sold it to me for $9700 OTD. If I put it on my American Express then he would have killed off most if not all of his profit. Furthermore it would have been paid off as soon as I got home and logged into my account so it would have been cutting into his profits for my own convenience.
If someone can't afford the toy and must use a CC, then the dealer shouldn't give them a break in the price of a bike. If the dealer worked with you and gave you a really good price and you want to use a CC to save the drive to the bank or rack up points...well that's just wrong.
race24x
Registered
Illegal here in Maine tell them you are buying the bike from a place that will not charge you the fees. With money in hand I cant beleive you wont find a dealer not to charge you. I also own a business and take cards and part of the profit loss from the business is making enough on the bike or product to support themselves. You dont see a charge for a cup of cofee electricity phone calls employee benefits etc on your purchase of a new bike. I will admit I dont like paying the fees either but its called the cost of doing business.
True, businesses need to pass on the costs. But I will NOT give a company MY business if there is a 'PENALTY' for using a credit card! I should pay the SAME amount whether I choose Cash, Check, or Charge.
I get just as frustrated with shipping companies - the 'fuel surcharge' that is on practically every invoice! That cost should be factored into the rates - not a surcharge!
Bottom line, it's a cost of doing business. These costs should be factored into your markup.
...my $0.02...
i would have to agree with you IF the dealer "GAVE" me anything...they don't give up anything they don't have to in order to make the deal...that is why it is called a deal- they are looking out for their best interests and i am looking out for mine
if i can get an extra 1% or more back by using my credit card then good for me...if the dealer doesn't want me to use my credit card, they can give me another 1% off the deal we have made on my OTD cost of the bike and i'll pay with cash...this will save him some money by not having to pay the CC use charge (which is more than 1%) and will match my best available deal
Personally, I would never use a credit card to purchase a MC, car, jet ski, etc. Join a credit union if you have to finance your MC. Credit Unions usually have the best financing deals and interest rates.
My ultimate advice to anyone buying a MC is to save up your money and pay cash. You will save big dollars in the long run.
P.
ps: Some credit unions take anyone as a member. I have a great credit union in Topeka KS. Here is their info:
Topeka Post Office Credit Union
424 S Kansas Ave
PO Box 1097
Topeka KS 66601
785-233-4323
Ask them about joining. Tell them Tom from DC sent you.
My ultimate advice to anyone buying a MC is to save up your money and pay cash. You will save big dollars in the long run.
P.
ps: Some credit unions take anyone as a member. I have a great credit union in Topeka KS. Here is their info:
Topeka Post Office Credit Union
424 S Kansas Ave
PO Box 1097
Topeka KS 66601
785-233-4323
Ask them about joining. Tell them Tom from DC sent you.
Revvv
Registered
I would be simple and up front about it. I would tell the Salesperson that they just lost a sale.
I used to sell H-D. The company I worked for refused to take cards for a balance over $3000 because they were hit with a 1.5% fee for every transaction.
I literally gave away several good sales that included accessories and all the other bogus H-D garb. I just gave them a card to a friend's Dealership that would accept the cards without any issue.
I was thanked for saving them money and the aggravation.
Yup - I would walk and head to the next Stealership. I wouldn't pay MSRP for the bike either.
I used to sell H-D. The company I worked for refused to take cards for a balance over $3000 because they were hit with a 1.5% fee for every transaction.
I literally gave away several good sales that included accessories and all the other bogus H-D garb. I just gave them a card to a friend's Dealership that would accept the cards without any issue.
I was thanked for saving them money and the aggravation.
Yup - I would walk and head to the next Stealership. I wouldn't pay MSRP for the bike either.
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