Maximum Limit on Personal Checks

guysfo · 10-18-2005, 04:50 AM

What's the maximum that dealerships will allow me to write for the down payment using a personal check?

Thanks for any input.

06graphite · 10-18-2005, 06:43 AM

depends on the dealer. ask them.

boas1 · 10-18-2005, 07:11 AM

Use a credit card instead; get points and its safer than giving them a check.

afocoryw20 · 10-18-2005, 07:13 AM

I paid my whole car with a personal check. So I can't see why there would be any limitations.

MCS · 10-18-2005, 07:27 AM

no limit. depends on the dealership. I paid by check and down payment on AMEX. I wanted to put everything on AMEX for points but the Finance mgr did not allow it.

Broken1 · 10-18-2005, 07:36 AM

I don't know about the US, but here in South Africa we have a R5 000 000 limit on personal cheques. But...you could always write two cheques if you were buying a R10 000 000 car. (About R6 = US$1)

thd13 · 10-18-2005, 07:48 AM

I think it all depends on the dealer. I paid 1/2 check and 1/2 cash and they were fine with it.

underDAWG · 10-18-2005, 08:48 AM

Quote:

Originally Posted by thd13

I think it all depends on the dealer. I paid 1/2 check and 1/2 cash and they were fine with it.

Did they count the money? There is almost 20K?

I wish car dealer takes Amex for the total amount.

06graphite · 10-18-2005, 09:54 AM

when i bought my car, they would only let me put $500 on my card, then wanted either a personal check, certified check, or wire transfer for the rest. I suppose they would have taken cash too...

FYI, the dealer told me that they won't take credit cards (especially AMEX) for a lot of money because of 2 factors:
1) They have to pay a 2-3% (i've heard closer to 5% for amex)
2) It opens the credit card companies up to liability issues. Not sure exactly how, but it's not "accident liability" issues, it's more of what if someone tries to return the car.

puck724 · 10-18-2005, 11:43 AM

depends on the dealer, mine let me use personal check for my entire down payment.

hevley · 10-18-2005, 12:52 PM

I was a little irritated that my dealership wouldn't let me put my deposit down with a credit card-due to warrenty liability stuff, but still would have been great for miles. I bet it is more about the fees.

CALIF65GM · 10-18-2005, 10:03 PM

Quote:

Originally Posted by hevley

I was a little irritated that my dealership wouldn't let me put my deposit down with a credit card-due to warrenty liability stuff,

Wow haven't heard of a dealer not allowing the order deposit to be made on a credit card. How much was your deposit?

My dealer allows upto $5K on the credit card.

hevley · 10-19-2005, 09:56 AM

Wow now I am really mad! 2k and they would only take a check

MCS · 10-19-2005, 12:13 PM

I put 5k on Amex. Finance manager told me that they would not put any more on CC due to the CC fees as mentioned above. It all depends on the dealership, when we bought ou other car, they allowed 10K on Credit card but the remainder had to be certified check.

northerncalguy · 10-19-2005, 12:57 PM

As the dealer about using my credit card for the down payment...he said only up to 1.5k, nothing more....Apparently credit card companies are getting pissed that people are attaining those reward points/miles by making large purchases on their CCs.

fdc · 10-19-2005, 03:59 PM

Quote:

Originally Posted by guysfo

What's the maximum that dealerships will allow me to write for the down payment using a personal check?

Thanks for any input.

Interesting ... yesterday I took delivery and my dealer did not accept
my personal check. He told me is a BMW policy since january 2005.
From what I hear here I think is his dealership policy instead.
So I had to go to the bank to get a certified check.
As far as concen personal check max there is no limit till the other
part is willing to trust you for the 10 days it takes to clear it.

I tried the VISA trick too (my VISA gets me backk 1%) but it didn't
work (they pay 3% commission ...)

fdc

fdc · 10-19-2005, 04:07 PM

Quote:

Originally Posted by northerncalguy

As the dealer about using my credit card for the down payment...he said only up to 1.5k, nothing more....Apparently credit card companies are getting pissed that people are attaining those reward points/miles by making large purchases on their CCs.

not exacly:

They set a limit of 1-2 K on credit card not because of the reward but
because the dealer is not willing to pay 3% to the CC company for
the full price of the car.

They are willing to pay the 3% on the downpayment in order to get
your business immediatelly (what if they ask you for a cashier check
for the deposit that you, of course, don't have on you, and you don't
came back ?)

My dealer accepted my VISA for 1,000 deposit but
when I picked up the car (1 month later) no charge was ever done
on the card and they asked me to pay the full amount with a cashier
check. They didn't even accept my personal check.
I asked to pay the full amount with VISA (I get 1% back) but they
(not VISA) refused because of the commission VISA is asking them ...

fdc

CALIF65GM · 10-19-2005, 08:17 PM

Bottomline, I think it all depends on the dealership.

petefalzzz · 10-19-2005, 08:55 PM

More likely than not the dealer are the ones pissed over the credit card transaction fees. :mad:

10-18-2005, 04:50 AM	#1
guysfo New Member 6 Rep 14 Posts Drives: E90 Join Date: Aug 2005 Location: SFO iTrader: (0)	Maximum Limit on Personal Checks What's the maximum that dealerships will allow me to write for the down payment using a personal check? Thanks for any input.
	Appreciate 0 Tweet Quote

10-18-2005, 06:43 AM	#2
06graphite Second Lieutenant 13 Rep 226 Posts Drives: '07 328xi Coupe Join Date: Aug 2005 Location: Plainville, MA iTrader: (0)	depends on the dealer. ask them.
	Appreciate 0 Quote

10-18-2005, 07:11 AM	#3
boas1 Private 4 Rep 64 Posts Drives: BMW 325xi 2006 Join Date: Oct 2005 Location: Midwest iTrader: (0)	Use a credit card Use a credit card instead; get points and its safer than giving them a check. Last edited by boas1; 10-18-2005 at 07:12 AM.. Reason: Edit
	Appreciate 0 Quote

10-18-2005, 07:13 AM	#4
afocoryw20 Lieutenant 12 Rep 456 Posts Drives: X3 + 325xi Join Date: Jul 2005 Location: New Jerz iTrader: (0) Garage List 2006 325XI [0.00] 2005 X3 [0.00] 1990 Mercedes Benz ... [0.00]	I paid my whole car with a personal check. So I can't see why there would be any limitations.
	Appreciate 0 Quote

10-18-2005, 07:27 AM	#5
MCS e90 newbie 35 Rep 448 Posts Drives: 2012 M3 E93 Join Date: Jul 2005 Location: Northern NJ iTrader: (2) Garage List 2006 330i [0.00]	no limit. depends on the dealership. I paid by check and down payment on AMEX. I wanted to put everything on AMEX for points but the Finance mgr did not allow it. __________________ E93 IL Blue M3 ZPP, ZCW
	Appreciate 0 Quote

10-18-2005, 07:36 AM	#6
Broken1 Addict 203 Rep 2,074 Posts Drives: 2024 X5 40i M-Sport Join Date: May 2005 Location: Ontario iTrader: (0)	I don't know about the US, but here in South Africa we have a R5 000 000 limit on personal cheques. But...you could always write two cheques if you were buying a R10 000 000 car. (About R6 = US$1)
	Appreciate 0 Quote

10-18-2005, 07:48 AM	#7
thd13 Major 46 Rep 1,445 Posts Drives: A07 330i Join Date: Aug 2005 Location: Murrland iTrader: (4) Garage List 2006 330i [0.00]	I think it all depends on the dealer. I paid 1/2 check and 1/2 cash and they were fine with it. __________________ My other ride is your mom.
	Appreciate 0 Quote

10-18-2005, 09:54 AM	#9
06graphite Second Lieutenant 13 Rep 226 Posts Drives: '07 328xi Coupe Join Date: Aug 2005 Location: Plainville, MA iTrader: (0)	when i bought my car, they would only let me put $500 on my card, then wanted either a personal check, certified check, or wire transfer for the rest. I suppose they would have taken cash too... FYI, the dealer told me that they won't take credit cards (especially AMEX) for a lot of money because of 2 factors: 1) They have to pay a 2-3% (i've heard closer to 5% for amex) 2) It opens the credit card companies up to liability issues. Not sure exactly how, but it's not "accident liability" issues, it's more of what if someone tries to return the car.
	Appreciate 0 Quote

10-18-2005, 11:43 AM	#10
puck724 COLTS 4 LIFE!!! 99 Rep 1,746 Posts Drives: 2006 330i Join Date: Aug 2005 Location: california iTrader: (1) Garage List 2006 330i [0.00]	depends on the dealer, mine let me use personal check for my entire down payment. __________________ 2006 330i --sapphire black--black leather --alumminum trim --premium package --cold weather package --park distace control --automatic transmission --navigation with iDrive
	Appreciate 0 Quote

10-18-2005, 12:52 PM	#11
hevley New Member 0 Rep 22 Posts Drives: 03 Acura TL sport Join Date: Oct 2005 Location: Indianapolis iTrader: (0)	I was a little irritated that my dealership wouldn't let me put my deposit down with a credit card-due to warrenty liability stuff, but still would have been great for miles. I bet it is more about the fees. __________________ Waiting impatiently on my e90 330xi\Black Sapphire\ Black leather\burl walnut\premium pkg\comfort access\cold weather pkg\sunshade\sirus sat. radio Ordered Sept.16th
	Appreciate 0 Quote

10-19-2005, 09:56 AM	#13
hevley New Member 0 Rep 22 Posts Drives: 03 Acura TL sport Join Date: Oct 2005 Location: Indianapolis iTrader: (0)	Wow now I am really mad! 2k and they would only take a check __________________ Waiting impatiently on my e90 330xi\Black Sapphire\ Black leather\burl walnut\premium pkg\comfort access\cold weather pkg\sunshade\sirus sat. radio Ordered Sept.16th
	Appreciate 0 Quote

10-19-2005, 12:13 PM	#14
MCS e90 newbie 35 Rep 448 Posts Drives: 2012 M3 E93 Join Date: Jul 2005 Location: Northern NJ iTrader: (2) Garage List 2006 330i [0.00]	I put 5k on Amex. Finance manager told me that they would not put any more on CC due to the CC fees as mentioned above. It all depends on the dealership, when we bought ou other car, they allowed 10K on Credit card but the remainder had to be certified check. __________________ E93 IL Blue M3 ZPP, ZCW
	Appreciate 0 Quote

10-19-2005, 12:57 PM	#15
northerncalguy Throw your hands in the air, if you's a true playa. 79 Rep 436 Posts Drives: 2006 325i, 2014 435i Join Date: Sep 2005 Location: NorCal iTrader: (0) Garage List 2006 325i [0.00]	As the dealer about using my credit card for the down payment...he said only up to 1.5k, nothing more....Apparently credit card companies are getting pissed that people are attaining those reward points/miles by making large purchases on their CCs. __________________
	Appreciate 0 Quote

10-19-2005, 08:17 PM	#18
CALIF65GM Colonel 97 Rep 2,041 Posts Drives: e93-35 May08 ED Join Date: Jun 2005 Location: SF, CA iTrader: (0) Garage List 06 - Oct. 05 build ... [0.00]	Bottomline, I think it all depends on the dealership. __________________ 5-2-08 e93-35 ED Montego w/Jade Grey, Step w/Paddles, PP, SP, CA, hot seats and iPod.Awaing re-delivery soon. Debadged 330xi ED 11/14/05 Auto/Mystic Blue/Gray leather with Alum/PP/SP/CA/Fold-down rear seats/Alarm. Sold to Carmax on 6/7/08 with 50,624 miles on clock
	Appreciate 0 Quote

10-19-2005, 08:55 PM	#19
petefalzzz Private First Class 5 Rep 163 Posts Drives: BMW 335d E90 Join Date: Oct 2005 Location: Atlanta, GA iTrader: (0)	More likely than not the dealer are the ones pissed over the credit card transaction fees. :mad:
	Appreciate 0 Quote

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search