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Can you buy a car with your debit card?
I am so close to buying my first car, but I’m still trying to figure out how to pay for it. Can I use my debit card to buy a car?
Pat Roache · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Yes, technically, you can use your debit card to pay for a car—but it may not work for your specific purchase. There are a few added complications that come with using a debit card to pay, especially if you’re buying from a dealer rather than a
private seller
.You’ll first need to check your debit card’s spending limit to make sure it will cover the costs. But even if your debit card can handle the transaction, a dealer may decline your card.
There are a couple of big reasons that a seller or dealer may deny debit card transactions for buying a car:
- A higher suspicion of debit card fraud
- Transaction fees can cost the dealer between 3% to 4% of the total payment, losing the seller or dealership money
Additionally, debit card transactions are easier to dispute *after the fact*—which could also cost a seller or dealership money in the long run.
A seller or dealer is generally looking to make as much off the sale as possible, which is why not everyone accepts debit card transactions for vehicle purchases. If you can’t pay with your debit card but want to avoid using credit, try using a bank transfer, cashier’s check, or money order to purchase the vehicle. Of course, once you’ve got your payment method figured out, remember to make sure you have
car insurance
before getting behind the wheel!View full answer
- Gregory R.
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