Filed under: Car Buying, BMW, Daimler, GM, Lexus
Gauging the best deals in automotive credit cards
Justin McHenry, research director for IndexCreditCards.com,
discusses how to best use branded credit cards when purchasing a new vehicle or service. (‘Branded’ meaning
affiliated to a particular organization or company) The well-known GM card, for example, puts up to five-percent of
purchases made on the credit card towards the lease or purchase of a new GM vehicle. The Citi Driver’s Edge card,
on the other hand, gives rebates to any manufacturer’s new or used vehicles.
Other automakers who
issue cards include BMW, DaimlerChrysler (separately as Chrysler and Mercedes-Benz), and Lexus. A full listing can be
found on a link at the article or here.
[Source: American Chronicle]
Reader Comments (Page 1 of 1)
Gunnar Heinrich 6:52PM (3/23/2006)
They just keep on coming up with more and more ways to drive car buyers into debt. Finance this, charge that, lease...
http://www.automobilesdeluxe.blogspot.com
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Strom 8:32PM (3/23/2006)
Or, you could pay the card off every month and not build debt...
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Car-la 7:24AM (3/24/2006)
Exactly. Mostly people have a cc anyway, so why not use one of the car manufacturers, and use the benefits. If you plan to buy a Chevy anyway, you can also use the advantages of the GM card in your favor.
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mj10990 7:34AM (3/24/2006)
I wish Volvo and Mazda had cards...I have a Lexus card and must say that they offer the best customer service for a credit card I have ever experienced. Kudos to them for keeping the brand image up even when they venture into different businesses. But I still didn't buy a Lexus last year (obviously I bought a Volvo). While I fell in love with my Volvo for many reasons, I was disappointed in the comfort and features offered in the RX as compared to my XC90.
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Gardiner Westbound 9:23AM (3/24/2006)
Over several years I amassed $3,500 in GM card credits. Then the weasels changed the rules, severely diminishing the value and usefulness of the accumulated points and the card. I bought an alternate make of car, and changed credit cards.
The new card gives me 2-percent off my purchases. It's a better deal, and they cant change the rules when the money is already in my pocket.
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Richard Warren 10:11AM (3/24/2006)
#2 Great point.
But--- it will all be better when:
The Bank of Wal-Mart opens. Think it's a joke? Consider:
Wal-Mart, controls a regional bank called Arvest Bank.
Most banking experts predict that Wal-Mart will eventually break into the business
Wal-Mart has created an industrial loan corporation" in Utah in anticipation of such a move.
Wal-Mart's previous attempts to create a bank have been cut off at the pass, including once in 1999 when it tried to buy an Oklahoma bank and more recently in its attempts to buy a California industrial loan corporation.
Then the choice will become, cash for a car or pillow shams.
Can't wait-----NOT
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