A man or woman interested in buying a Used SUV in Tacoma Washington may realize that financing could be a problem. The consumer earns a relatively low amount of money or may not have a good credit score any longer. If he or she has a credit card with a high enough limit, the idea of charging the SUV on the card may be very tempting.
Another group of buyers wants to use a recently received credit card that has an introductory 0-percent APR that lasts for 12 months or longer. They know they can pay this amount off within that time frame.
However, not all dealerships accept credit cards for these transactions.
Reasons for Not Accepting Credit Cards
Credit cards allow buyers to return goods within a certain time frame. Some dealers will not allow buyers to pay with a card because they don’t want this risk. In addition, retailers that accept credit cards also have to pay a processing fee. That fee can be as high as 3 percent per transaction, making the cost a hefty one to sell even a lower-priced car.
Considerations
Manufacturer dealerships are least likely to accept credit cards for vehicle purchase transactions. Their lots tend to be filled with new cars and trucks and with relatively recent models. The higher prices mean steep card processing fees. These dealers typically would rather wait for another buyer who will finance through the dealership.
Possibilities
A Used SUV in Tacoma Washington typically costs less than a new one. Thus, businesses specializing in pre-owned vehicles are more likely to accept credit cards for the full payment. The card processing fee may seem acceptable, especially if the vehicle has been on the lot for a while.
In general, dealerships will be more accepting of buyers wanting to pay only a down payment with a credit card. The business may have a maximum allowed for credit cards; $5,000 is a common figure.
Another possibility for consumers with credit problems is to work with a used car dealer such as Washington Car Credit. This type of organization provides bad-credit financing directly through the business. These dealers specialize in helping customers with credit issues. They may approve almost everyone who applies.
