What options do I have for the down payment transaction?

SF_VR6 · 07-26-2008, 11:04 AM

Hey Folks,

I'd like to walk into my dealer, the day of delivery and be able to do all paperwork without any hitches. I don't want to have to leave for a bank.

Short of walking into the dealer with cash, what other options do I have for the down payment transaction?

Personal blank check? I guess they check to make sure you have funds available?
Should I provide a cashier's check?
How much of my Credit Cards can I use?

Share your story.

thanks!

Bimzz · 07-26-2008, 03:41 PM

I used my credit card and collected aeroplan miles on it. You should be able to use credit card for the downpayment

Dan203 · 07-27-2008, 12:08 PM

They should just take a personal check. They may or may not take a credit card. Each dealer has their own policy on that.

Dan

acivick · 07-27-2008, 10:14 PM

I was told to bring a cashiers/certified check for the down payment. You may also be able to use credit. Just call your dealer and ask what they will accept for it.

Also, make sure if you are financing to bring a check. I made the mistake of using a direct deposit because my bank sold me on how it was easier, and the dealer almost didn't let me take it off the lot when I went to pick it up. Apparently it takes 24 hours to clear, and they have a policy of not letting you take it off the lot until they have payment in hand.

07-26-2008, 11:04 AM	#1
SF_VR6 Lieutenant 125 Rep 404 Posts Drives: 16' X5 M-Sport / Space Gray Join Date: Jan 2008 Location: Bay Area iTrader: (0) Garage List 2008 BMW 135i [0.00]	What options do I have for the down payment transaction? Hey Folks, I'd like to walk into my dealer, the day of delivery and be able to do all paperwork without any hitches. I don't want to have to leave for a bank. Short of walking into the dealer with cash, what other options do I have for the down payment transaction? Personal blank check? I guess they check to make sure you have funds available? Should I provide a cashier's check? How much of my Credit Cards can I use? Share your story. thanks!
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07-26-2008, 03:41 PM	#2
Bimzz Happy Member 3 Rep 103 Posts Drives: Join Date: Jun 2008 iTrader: (0)	I used my credit card and collected aeroplan miles on it. You should be able to use credit card for the downpayment __________________ BMW 135i AW - Black L'ette - Xenons - Heated Seats - HiFi - 18's Style 261 - 6sp - BMS Intake
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07-27-2008, 12:08 PM	#3
Dan203 Lieutenant Colonel 136 Rep 1,592 Posts Drives: 2016 340i xDrive Join Date: Jul 2008 Location: Carson City, NV iTrader: (1)	They should just take a personal check. They may or may not take a credit card. Each dealer has their own policy on that. Dan
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07-27-2008, 10:14 PM	#4
acivick Lieutenant 10 Rep 446 Posts Drives: Dinan Sedona 135i Join Date: Jun 2008 Location: Sunnyvale, CA iTrader: (1) Garage List 2008 135i [0.00]	I was told to bring a cashiers/certified check for the down payment. You may also be able to use credit. Just call your dealer and ask what they will accept for it. Also, make sure if you are financing to bring a check. I made the mistake of using a direct deposit because my bank sold me on how it was easier, and the dealer almost didn't let me take it off the lot when I went to pick it up. Apparently it takes 24 hours to clear, and they have a policy of not letting you take it off the lot until they have payment in hand.
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