Hyundai Motor Finance Doesn't take Credit Cards?

[GenesisFred]

Anyone else notice this? You can do it though Western Union for a $20 fee!! WOW!

Has anyone found a way around this?

I can pay with a checking account. But racking up airline miles is so nice!

Anyone know a way around this?

 

[OneFunGenesis]

Are you talking about paying for the full car? Because they only let me put $1000 on my card the rest had to be cash, check, or money order.

I would attribute to the degenerates who generally drive the accents that could put them on a credit card and then default....

 

[GenesisFred]

Sorry, should have clarified. A monthly lease payment.

 

[srobak]

I can tell you that Honda, BMW and Capital One do not accept plastic for lease or monthly ownership payments either. Checking or die. :/

 

[GenesisFred]

I can tell you that Honda, BMW and Capital One do not accept plastic for lease or monthly ownership payments either. Checking or die. :/

Chrysler and GM finanacial do. BOO!

 

[kn5owa]

Chrysler and GM finanacial do. BOO!

I'm assuming you're looking for the monthly perks - airline miles, cash back, etc.

Nice try

 

[Mark_888]

Merchants (a dealer, Hyundai Finance, restaurant, department store, etc) has to pay a fee of about 2.5% to the credit card company when they accept a credit card. It's pretty obvious why they don't accept them.

 

[GenesisFred]

I understand the costs and the reason why. There is also other issues with people using the cars to pay, then not paying their cards.

I do it for the perks like airline miles. Even if I get charged a fee of $3.95 like when I do my Cadillac, it is still worth it!

 

[homeofstone]

Do they take pay pal? If so you can link your rewards credit card to Pay Pal and you're set.

 

[Mark_888]

Do they take pay pal? If so you can link your rewards credit card to Pay Pal and you're set.

I doubt it, since Paypal charges the seller 2.9% + $0.30 per transaction.

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[Mark_888]

I understand the costs and the reason why. There is also other issues with people using the cars to pay, then not paying their cards.

If the merchant submits the charge and gets a transaction authorization code, and later the cardholder does not pay his bill, the bank that issued the credit card is on the hook. That is why the bank that issued the credit card to the consumer gets the bulk of the 2.5% transaction fee (Visa or MC get a small part of the fee, and the merchant bank gets a small part of the fee).

 

[Huddleston]

Toyota doesn't accept them either. I wouldn't think they would care as long as they are getting paid. Even if you purchase a car on the card they still are receiving their money, if you default the issue is one for the card company to deal with. Oh well.

 

[Mark_888]

Toyota doesn't accept them either. I wouldn't think they would care as long as they are getting paid.

If Toyota Finance Company accepted credit cards, they would have to pay the 2.5% credit card transaction fee that is assessed to merchants.

As GenesisFred noted, GM charges the customer $3.95 per payment if they use a credit card.

 

[GenesisFred]

Gm does it through western union on my Caddy for that 3.95 convenience fee.

HYUNDAI does it similar, but rather then in their website they tell you to western union. WU charges between 25 and $29. It seems like they are taking advantage of people with cashflow issues who NEED to use credit cards.