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Can I make a car down payment with a credit card?

When you use a credit card to make a purchase, you pay interest on your balance. If your credit score is over 670, you can expect to pay between 20% and 22% interest rates on your credit card. With that in mind, you should only make a car down payment with a credit card if you can pay off your entire account balance before the next due date.

Can a credit card be used as a down payment?

Credit cards are a great no-fuss alternative to cash and a lot of car dealerships are fine with your use of them for a down payment. Paying with one can also garner you points, miles, or cash back from the card’s issuer. Just be careful about the annual percentage rate (APR).

Do you need money for a car down payment?

If you're in the market for a new or used vehicle, you'll need money for a down payment, which is a portion of the car's total cost that you pay upfront. Down payments can be made with a personal check, cashier's check, or physical cash, and some dealerships also allow credit card payments.

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