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Discussion Starter · #1 ·
I was so happy yesterday to get mail from GM with the envelope screaming "Another great benefit for Nox owners." I thought: Okay, every day I'm happier being a Nox owner. When I opened the envelope, it was only an application to sign up for a GM credit card. Whoopee.

A benefit for GM, I guess. ;D
 

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Is it a card to earn points? I only use cards that earn some kind of reward. I find a reward a benefit.
 

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Discussion Starter · #3 ·
Yes, somewhat like a Discover Card, it accumulates a % of your purchases to become a down payment on your next GM vehicle. No, I'm not joking, that is actually the program.
 

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I closed out my GM mastercard a couple years ago when the closed a few more plants here in the US and opened a few out of country. I now have a Mastercard from a local retailer that keeps building and expanding here in the US
 

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I have a Harley Visa that gives me "Chrome Dollars" back. So every year I usually get $100 worth to spend at any Harley dealer. Better then nothing.
 

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it accumulates a % of your purchases to become a down payment on your next GM vehicle
I had about $2,500 to apply to my Equinox so it can add up to a decent amount over time.
 

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TerryG said:
I closed out my GM mastercard a couple years ago when the closed a few more plants here in the US and opened a few out of country. I now have a Mastercard from a local retailer that keeps building and expanding here in the US
What new plants did they open outside the US in the last 5-7 years?
 

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TerryG said:
I closed out my GM mastercard a couple years ago when the closed a few more plants here in the US and opened a few out of country. I now have a Mastercard from a local retailer that keeps building and expanding here in the US
Actual assembly of a vehicle is less than 1/2 the cost. There is a lot more profit in the design and support of your car, not to mention the profit from sales stay here in the US.

As I see it, as long as they build them on the North American continent, there is much more better economic flow for the U.S.
 

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Discussion Starter · #10 ·
When I bought my Nox I tried to put as much of the purchase price on my AA miles VISA as possible. But the dealer would only allow $2,000. I had cleared it with VISA, however, to put the whole purchase price on my card. The VISA operator warned me that car dealers don't usually let that happen. So, putting $5K on the GM card is better, as far as building a future down payment I guess.
 

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Dang. I really liked the dealer and salesperson that I was dealing with, but they didn't let me put anything on credit card. Would have been nice to get those points.
 

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Discussion Starter · #13 ·
If a dealer is willing to let you put a vehicle purchase on a credit card then you are paying way too much for the vehicle.
GMCdriver, you are a very smart person.
 

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GMCdriver said:
If a dealer is willing to let you put a vehicle purchase on a credit card then you are paying way too much for the vehicle.
my wife is a 30+ year emploee of GM and we have used our GM card for a portion of our new vehicle purchases since the early to mid 90's. we were not allowed to use for lease payments; the cheap lease days from GM no longer exist. I checked with at least 6 different Chevy / GM dealers and their polcies ranged from allowing a credit card charge from $2,000 to $5,000 under the GM Preffered Pricing (employee price). Only two of the six stated $5,000. You may run into a conflict if you try to charge your down payment and finance the balance as the loan entity would view this as your attempting to finance 100% with zero equity.
 

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Discussion Starter · #15 ·
Carver, what is the largest amount you and your wife know of that a customer has had on their GM card that they could use toward purchase of a new car? I'm not sure that sounds clear, so let me clarify that I'm not asking about charging on a credit card, I'm talking about exchanging what you've built up on the GM card as a discount toward the purchase price of a new auto.
 

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When I made a down payment I was allowed to put $2500 on my credit card.(Canada)
At first salesman said $5000 but was vetoed by sales manager.
 

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jer said:
Carver, what is the largest amount you and your wife know of that a customer has had on their GM card that they could use toward purchase of a new car? I'm not sure that sounds clear, so let me clarify that I'm not asking about charging on a credit card, I'm talking about exchanging what you've built up on the GM card as a discount toward the purchase price of a new auto.
Limitst do apply:
Since GM initiated its automotive credit card program in 1992, more than 5 million consumers have redeemed their GM credit card earnings. This successful credit card program allows users to earn 5 percent on all purchases with no limit, and with no annual fee. However, your GM card earnings may be redeemed only for new GM vehicles, which are subject to varying redemption limits. For example, a Cadillac SRX has a $3,000 redemption cap, while the hot-selling Cadillac Escalade has a $1,500 limit. The GM credit card gives you the highest return of any automotive credit card, but the redemption restrictions may prevent you from taking full advantage of your accumulated rebate dollars.
 

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I think original question was about how much can you pay for the car with a credit card, not about redeeming reward dollars or Visa points.
Carver said:
My local Chevy dealer will accept up to $5,000 on my GM card towards the purchase. Will try to push this to a higher amount at the time of delivery.

Related article on buying a new car with a credit card http://www.bankrate.com/finance/auto/savvy-shoppers-may-get-car-with-card.aspx

The assumption is one will pay off the the charged balance and not carry a balance.
 
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