If you have not been following along on my past few Sundays of my
griping whining complaining sharing with you about my sad issues with my 11 year old Kia, then you have really been missing out (well, no, not really, but let’s move on).
Yesterday I final sold it for $500 cash and I am told that is way more than scrap value of the metal the van was made of (the engine was dead). However, get this, the people who purchased the van had a tree almost cut their similar year Kia in half and the engine was like new. So, I had my perfect van (with $2500 worth of new attempted repair parts inside) to sell them and they can yank the engine from their van and put in my van. #Winning on both sides and a story along with it. I love it when a plan comes together!
But none of that has anything to do with you and the idea of today’s post. You see I am buying my new car on travel cards so I can earn points. Can it be done? You bet it can. But there are things you need to know if you want to try this.
First off, as we all know, buying a new car is a negotiation for the best price. The dealer wants to extract as much money from you as they can and we want to pay as little as possible for the new car. So, I started with the fact that I was NOT financing the car but just paying outright for it. I did not mention how I was going to pay for it, just that I would not need any financing. Yes, power in negotiation matters when buying a new car.
Once we had a final price I was willing to offer them I mentioned I would be paying in full with a credit card. As you can imagine, that did not go over so well. The young man who is my sales rep was somewhat floored by my statement of payment method. He stammered that the max value I could pay with a credit card was $4,000. I indicated that was not how this was going to work and if my local dealer would not allow payment with a credit card, I was sure I could find another dealer that would (I did not mention I have enough miles to fly anywhere to get it, but I did think about it).
Anyway, I let the offer stand for a bit. I really knew paying in full was a huge ask considering the final bottom line price I had worked out (or at least in my mind it was a great price). But also during this time I visited a Simon Mall and happened to end up with a boat load of VDGCs that I turned into money orders (MO). So when my rep called back I offered to pay 10k with money orders, i.e. the same as cash, and the remaining 13k on a credit card (if you want to know I chose my US Bank FlexPerk card). This offer was accepted by both sides.
I have so far put $500 down, via an MO, and am awaiting delivery and final payments. I have thus, via my own efforts, earned points on the total purchase price of the car. Maybe not as great a reward as full credit card payment but I have been able to liquidate a nice chuck of MOs and charge a sizable amount on a travel card earning a sweet reward back in points. Not bad.
Just as an informational bit, I do not ever pay a penny of interest on the card I charged this large purchase on or the card I purchased the MOs on. Yes my savings account will take a hit but I do not pay interest on travel cards or on car loans. That is how I “roll”! 🙂 – René
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