Paying cybertruck with credit

dedav

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Hi! Does anyone know the maximum amount allowed to put on a credit card for purchase of cybertruck? Or Is cash and financing the only options?





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Crissa

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You can put the whole thing on a credit card, tho... It's not a great idea to do that. Tesla will take many forms of payment. Even bitcoin.

-Crissa
 

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Hi! Does anyone know the maximum amount allowed to put on a credit card for purchase of cybertruck? Or Is cash and financing the only options?
Credit card may be the most expensive way to buy a vehicle. Typically, you pay 18 to 25% interest on a credit card, you should pay around 5% through traditional auto financing if you have halfway decent credit. Big diff.
Of course, if you're independently wealthy like Dids, you can just pay cash.
 
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dedav

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The credit card option will not be as a means to afford the car but more so as a way to take advantage of points. With that in mind, I’ve heard the entire purchase can be on credit... is that accurate? Anyone?
 

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The credit card option will not be as a means to afford the car but more so as a way to take advantage of points. With that in mind, I’ve heard the entire purchase can be on credit... is that accurate? Anyone?
Last I had ever looked into this subject I was under the impression only the delivery fee could be put on a credit card, but maybe that is outdated info now? Assuming they don't charge an upfront % for using CC as payment method, it's a great way to take advantage of points.
 

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I have never tried it but it does not make sense for it to work. The reason credit cards give you points or 1 - 2 % cash back is that they charge the merchant 3% for the transaction. If Tesla pay 3%, you can bet your bottom that somehow it will come from you. Neither Tesla nor the bank will let you get something for nothing. However if you are talking about making the purchase with the card and paying bank the interest overtime, I have no doubt they will raise your credit limit as much as they can to use you as a cash cow as long as they can.
 

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We were only allowed to put a limited amount on CC back in late 2016. I don't remember if it was the just the 1K deposit or more than that. It wasn't much. At the most 3K. We would have loved to put it all on a CC for the points but it was a no go. If it's an option this time we will surely do it.
 

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dedav

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Yes, you can put the entire purchase on a card.

They had a hiccup a month ago where they were accidentally double charging people who did that. Big whoops.
https://www.caranddriver.com/news/a36064509/tesla-refunds-buyers-it-double-charged/

Also, check your card's points maximums: Many have per annual or per-purchase maximum rewards.

-Crissa
What I can’t tell from the link is if the double charge was taken in cash or charged to credit. I didn’t see anything specifically saying CC, but it says bank account. I have heard too many people say there is a limitation on how much you can put on a CC, so I remain unsure! Thanks for your input and information!!
 

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Hi! Does anyone know the maximum amount allowed to put on a credit card for purchase of cybertruck? Or Is cash and financing the only options?
Credit limits are personal to the individual. You should know yours already as part of your credit account statements. As for this avenue of credit use, don't. Unsecured credit charges at a higher rate because there is no collateral held against the debt. If you already have the cash available, put it in an interest bearing account until you need it. I would assume that if you are asking this question, you need to educate yourself about what credit is and how to use it properly, none of it is free money.
In my case, I am saving up my expendable income to use as a down payment when my place in line presents me with the opportunity.
 
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dedav

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So
Credit limits are personal to the individual. You should know yours already as part of your credit account statements. As for this avenue of credit use, don't. Unsecured credit charges at a higher rate because there is no collateral held against the debt. If you already have the cash available, put it in an interest bearing account until you need it. I would assume that if you are asking this question, you need to educate yourself about what credit is and how to use it properly, none of it is free money.
In my case, I am saving up my expendable income to use as a down payment when my place in line presents me with the opportunity.
I appreciate ur attempt to respond to me, but clearly u have misunderstood what I am asking. I’m well aware of how credit works and how much my available credit is, what I did not ask are these 2 questions. What I did ask is: how much will Tesla allow u to put on a CC if at all. There may be a maximum u r allowed to put on credit. As I mentioned in previous reply, my intention is not to use credit i don’t have, or money I can’t afford towards this car, my intention is to use my credit to be able to use my points bc I don’t have a maximum on my credit for points allowed in a year. So best case senator, I can put the entire amount and take advantage of this as I do with many other purchases for my business. Although I doubt the whole amount is allowed. So again I’m interested if anyone has ACTUAL KNOWLEDGE of what maximum allowed by Tesla is for CT specifically!
 

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What I can’t tell from the link is if the double charge was taken in cash or charged to credit. I didn’t see anything specifically saying CC, but it says bank account. I have heard too many people say there is a limitation on how much you can put on a CC, so I remain unsure! Thanks for your input and information!!
There were some different accounts, but yes, some were credit cards.

-Crissa
 

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There were some different accounts, but yes, some were credit cards.

-Crissa
When I purchased my Tesla in Nov 2019, you could pay the deposit with a CC, however Tesla required certified check, ACH transfer or Dealer Funding Request document. They said using a CC to pay all or part of the balance wasn't an option. It's always possible that someone could make a deal with the deliver specialist, however CC isn't an advertised option.
 

Crissa

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Yes, I think the change recently was the cause of the double-billing.

Sometimes just not doing things prevents problems which are dumb from happening.

-Crissa
 

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