Big purchases on Amex - e.g. cars

[Isochronous]

I remember there was discussion a few years ago about using Amex to pay for large purchases like cars and that there used to be a page on the Amex website where you could fill in a form and Amex would arrange a one-off lowered interchange rate for that large purchase to help persuade the merchant to take Amex. Anyone know if that still exists?

With the current effective 4% cashback offer this could be very useful!

 

[albyd]

Merchant rates have become much more reasonable. I'm in the process of buying a new car. The dealer BMW Sydney has offered 1.3% AMEX rate so it's a reasonable profit margin on the purchase with the current AMEX offer. Last time I bought from them they were quoting something like 3.6% which I thought was absolutely ludicrous and I kept my AMEX in my wallet.

 

[Tallfont]

I bought a new Mercedes-Benz in Perth in January. The dealer was quite happy to accept an initial deposit on AMEX of whatever I wanted with no surcharge. I placed $5000 on the AMEX and paid another $10,000 of my own when I picked the vehicle up. With the trade that brought the figure to finance where I wanted it.
I now wish I had put the whole $15,000 on AMEX in the first place!

 

[samh004]

I bought two cars mid-last year. Gave AMEX a call first to let them know that I would be doing so and was advised to put them through one at a time, paying the balance off in-between. Seemed acceptable to me and worked out great for my points balance. The only party surprised that I was using an AMEX was the dealer who couldn't get his head around why I would accept a surcharge on such a purchase when I had the cash. I honestly can't remember what it was but was around 1.X% maybe.

Picked up close to 150k points... would have been incredible if I was buying now!

 

[blacksultan]

I bought a Honda Civic 2 years ago on Amex with no surcharge !

 

[baldman]

Merchant rates have become much more reasonable. I'm in the process of buying a new car. The dealer BMW Sydney has offered 1.3% AMEX rate so it's a reasonable profit margin on the purchase with the current AMEX offer. Last time I bought from them they were quoting something like 3.6% which I thought was absolutely ludicrous and I kept my AMEX in my wallet.

Does the Amex extended warranty of up to an extra 12 months apply to motor vehicles ?

 

[Isochronous]

I bought a Honda Civic 2 years ago on Amex with no surcharge !

Which dealer?

 

[blacksultan]

Which dealer?

Yarra Honda . This was with a free upgrade to the more pricier variant .

 

[albyd]

Does the Amex extended warranty of up to an extra 12 months apply to motor vehicles ?

I’m not sure that would be great though. My understanding of reading the T&Cs a very long time ago is that it doesn’t apply to motor vehicles. I’d be keen to know if someone has the answer.

 

[Daver6]

I’m not sure that would be great though. My understanding of reading the T&Cs a very long time ago is that it doesn’t apply to motor vehicles. I’d be keen to know if someone has the answer.

From https://www.americanexpress.com/content/dam/amex/au/benefits/Platinum/PlatinumInsurance.pdf

Excluded specifically "boats, automobiles, motor boats, airplanes and any other motorised vehicles and their integral parts". Additionally the purchase price must be under $20k.

 

[albyd]

shame thought I’d read something similar a long time ago.

Anyone bought real estate on Amex? Might be worth it for such a big ticket purchase if you’ve got the cash. Same for stamp duty if they’ll give you banking details to make your payment into or your solicitor will accept the deposit into trust and then pay the stamp duty for you.

 

[Pointy Bird]

I built a house entirely on Amex. Told builder I would not use him unless he arranged to accept Amex - which he did with an acceptable fee to cover his costs.

 

[blacksultan]

shame thought I’d read something similar a long time ago.

Anyone bought real estate on Amex? Might be worth it for such a big ticket purchase if you’ve got the cash. Same for stamp duty if they’ll give you banking details to make your payment into or your solicitor will accept the deposit into trust and then pay the stamp duty for you.

I paid the entire deposit but there was a surcharge . Commonly accepted .

 

[Ade]

Anyone bought real estate on Amex?

I put down deposit for a property entirely on AMEX between late 2018 and early 2019. No surcharge. A good 150K points.

 

[Isochronous]

I put down deposit for a property entirely on AMEX between late 2018 and early 2019. No surcharge. A good 150K points.

Well done! Which real estate agent if you don't mind me asking?

 

[daft009]

I only managed to pay the stamp duty to revenue NSW directly, bank then reimbursed me for the same amount

 

[Ade]

Well done! Which real estate agent if you don't mind me asking?

Central Equity, Melbourne

 

[Infrequent traveller]

I paid recently on my AMEX Charge via RewardPay on an exceptional business expense to get close to 360k MR points under the current "double points" special offer. Had to pay around A$1600 (net of GST) but find it well worth it - I think I can get arounD A$4K value simply by using "points to pay" under current offer?!

 

[RightSaidFred]

Am about to make a decent $35k payment for a new car to be used for business. Does the Qantas Business Rewards card qualify to make such a payment? The dealership certainly has an option to pay via AmEx @2.55%.

Would going via RewardPay or AmEx FX Pay be any better or legal at all?

 

[daft009]

Am about to make a decent $35k payment for a new car to be used for business. Does the Qantas Business Rewards card qualify to make such a payment? The dealership certainly has an option to pay via AmEx @2.55%.

Would going via RewardPay or AmEx FX Pay be any better or legal at all?

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