I'm not aware of any dealer ready to accept a credit card for more than about $2K of the new vehicle purchase price.
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Is FordPass Rewards Visa Card worth getting before purchase of Maverick???
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Whatever the max amount is, sounds like free money to me.
If your buying a Ford with it I don't understand why the dealer would cap it.
Its not like I'm trying to use a chase or another kind of bank card
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Is there a limit with you guys? It would be a new sign up
Its not like I'm trying to use a chase or another kind of bank card
@Dealerinsider
Is there a limit with you guys? It would be a new sign up
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Credit card companies charge a fee for processing payments. 1-4 percent range. That can be a lot of money for a vehicle.
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It is just a Ford branded credit card, offered through a regular old bank - the co-branding is just a way to get enthusiasts to get and use it.
While the initial rewards are kinda ok, they aren't really worth it in the long run - there are many significantly better cards out there if you use a credit card for all your expenses and pay it off every month.
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If a dealer accepts a Credit Card the CC company can come back on the dealer under the Implied Warranty clause in their contract with the Credit Card company.
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+1, the CC isn't offered by Ford, it's just Ford branded. Using it to buy a Ford vehicle will make no difference to FNBO (the actual issuer). The most I've ever been able to get a dealership to put on a card was $5k. As someone who is a regular card churner, if you are looking for a CC with benefits to use as a down payment, there are a lot of better options https://www.doctorofcredit.com/best-current-credit-card-sign-bonuses/.
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Then Ford would be out the 1-4 percent. It's not a great deal for them.
People who have the Ford card will primarily use it at Ford. It's a loyalty program for Ford customers.
Ford has the card to drive sales. Mostly in service.
People with a Ford credit card are more likely to spend more with Ford then someone who doesn't.
Let's not forget the apr is around 13 - 28.
If they credited there dealers with the processing charge they would more likely push it.
The whole idea behind a card isn't for Ford enthusiasts, it's to drive sales increase average ticket, and help close deals
People who open up a charge at time of purchase are more than likely come back for service as well.
The interests charges and extra sales negate the 1 to 4 percent.
Come on sir, think a little.
That could all possibly be true, but it doesn't change anything. Ford does not reimburse the dealership for use of the card; plain and simple, the issuer is First National Bank of Omaha. This is no different than your Capital One Walmart card or Synchrony Old Navy or Target Redcards.
All store cards have a separate issuer. Have you ever got approved for a store card for let's say 10000 and the store tell you that you can only spend 2500???
Ford needs to figure that out. I know the issuer is First bank of Omaha but Ford is the one putting there name on it.
Not upset with the dealer but with Ford.
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