Best card for car down payment

[maynigam]

Hello guys

I need to pay 7L down payment for a new car this month. Please suggest the best card to do the same and also guide how to negotiate with the car dealer regarding MDR charges etc. Should I tell them in advance that I am going to use the card or wait till final negotiation?
I have Atlas, Platinum Travel, BOB Eterna, Regalia Gold, Tata Neu Infinity which seem usable.
Thanks in advance.

 

[jk51]

Hello guys

I need to pay 7L down payment for a new car this month. Please suggest the best card to do the same and also guide how to negotiate with the car dealer regarding MDR charges etc. Should I tell them in advance that I am going to use the card or wait till final negotiation?
I have Atlas, Platinum Travel, BOB Eterna, Regalia Gold, Tata Neu Infinity which seem usable.
Thanks in advance.

Mostly they don’t budge with regards to MDR however depends upon the brand and respective dealer’s standing as well. I always prefer to negotiate in this regard at the end and if they don’t budge then ask for more accessories/ services like car wash, labor waiver on services, etc apart from the ones offered by them. Same can be done with Brining this up during month or quarter end also helps.

 

[drsel]

Use Platinum travel for 4 lakhs target and Atlas for the rest.

 

[sourpai]

First swipe for small amount and check MCC.

One of the member here on TF recently swiped a card for full amount and it turned out to be Fuel MCC. Got charged as 1.18% surcharge with no reward points. Now fighting with dealer and card machine issuing company

 

[maynigam]

First swipe for small amount and check MCC.

One of the member here on TF recently swiped a card for full amount and it turned out to be Fuel MCC. Got charged as 1.18% surcharge with no reward points. Now fighting with dealer and card machine issuing company

How to check MCC? After swiping do I call Axis and ask?

 

[maynigam]

Use Platinum travel for 4 lakhs target and Atlas for the rest.

Is there a monthly limit on Atlas rewards now? Do I need to split the payments into 2 statement cycles? Amex acceptance is highly doubtful na?

 

[drsel]

No monthly limit on Atlas reward

 

[maynigam]

No monthly limit on Atlas reward

Yes. Just checked. My bad. Limit is on travel edge accelerated rewards.

 

[maynigam]

Dealership is offering me 1% MDR. Should I take it?
Also, my atlas limit is 6.7L and I need to pay 10L. Does axis take LE requests or should I swipe, pay and swipe again? If I go for option 2, how long does it take for limit to be reset after payment?
Does Tata Neu Infinity card offer any benefits on buying a TATA car?

 

[anshul2k]

Dealership is offering me 1% MDR. Should I take it?
Also, my atlas limit is 6.7L and I need to pay 10L. Does axis take LE requests or should I swipe, pay and swipe again? If I go for option 2, how long does it take for limit to be reset after payment?
Does Tata Neu Infinity card offer any benefits on buying a TATA car?

You can make an excess payment in your cc and then pay in parts (as per your limit)
You will not have to wait for the payment processing time in this case.

For example: if you have 100k available balance and a 100k limit, you can make an excess payment of 50k (using CheQ or anything similar).
Now you can simply swipe twice to make a total payment of 150k

 

[anshul2k]

Is there a monthly limit on Atlas rewards now? Do I need to split the payments into 2 statement cycles? Amex acceptance is highly doubtful na?

Try using Magnus instead of atlas, you will earn 2x or 3x points if you make a total payment of 7-10 lakhs for your car

 

[maynigam]

Thanks. That seems like a much better option. Suppose I pay axis in advance and for some reason the card payment at dealership does not work out, does axis refund or they ask you to make spends and utilise the balance?

You can make an excess payment in your cc and then pay in parts (as per your limit)
You will not have to wait for the payment processing time in this case.

For example: if you have 100k available balance and a 100k limit, you can make an excess payment of 50k (using CheQ or anything similar).
Now you can simply swipe twice to make a total payment of 150k

 

[maynigam]

Try using Magnus instead of atlas, you will earn 2x or 3x points if you make a total payment of 7-10 lakhs for your car

I surrendered my magnus last year.

 

[anshul2k]

Thanks. That seems like a much better option. Suppose I pay axis in advance and for some reason the card payment at dealership does not work out, does axis refund or they ask you to make spends and utilise the balance?

I have never tried the refund option with Axis, but afaik it was RBI's rule to revert any excess payment to person' account if asked.
I have tried reverting the excess amount option from ICICI, SBI etc, and it worked fine. I don't think there should be any problem with Axis either.

 

[maynigam]

One more quick question. Is there a way to check the MCC of a card machine without swiping?

 

[aj204~]

There is no way as in many cases dealership bums would also not know how they classified themselves while taking the payment terminals from service providers. However, there is no need to make a small payment - you should swipe the card and then enter an incorrect pin - afterwards call the bank helpline and they should be able to tell you immediately if this spends gets you points or not

One more quick question. Is there a way to check the MCC of a card machine without swiping?

 

[aj204~]

I have never tried the refund option with Axis, but afaik it was RBI's rule to revert any excess payment to person' account if asked.
I have tried reverting the excess amount option from ICICI, SBI etc, and it worked fine. I don't think there should be any problem with Axis either.

It does not work this way. Your overall card limit is also daily limit on Axis card. You cannot swipe the card for more than 6.7L each day that is for sure.
There is no point in making an overpayment in advance.

 

[maynigam]

I asked them the MCC. They said it's 5013.
Btw, I spoke to multiple dealerships and finally convinced them to charge 0% MDR.

 

[maynigam]

There is no way as in many cases dealership bums would also not know how they classified themselves while taking the payment terminals from service providers. However, there is no need to make a small payment - you should swipe the card and then enter an incorrect pin - afterwards call the bank helpline and they should be able to tell you immediately if this spends gets you points or not

The MCC is 5013

 

[maynigam]

So

It does not work this way. Your overall card limit is also daily limit on Axis card. You cannot swipe the card for more than 6.7L each day that is for sure.
There is no point in making an overpayment in advance.

So I can do it on 2 separate days or maybe use 2 different cards