Ferrari Mailing List: Re: NFC.Credit card BS

[Michael James (cavallino_rapante]

There was a terrific thread on FChat regarding one gentleman who purchased a 
Lamborghini G using 7 different credit cards.  In a certain logic-space, such a 
transaction makes sense - if you default on one or two of the cards, no credit 
card company can possibly reclaim or reposses their portion of the collateral: 
1/7th of a car.  The rest of the story is worth the read-through if you have a 
few hours to kill....needless to say, it did not end well.
 
M


--- On Mon, 5/18/09, Brian E. Buxton <BrianBuxton [at] BuxtonMotorsports.com> 
wrote:


From: Brian E. Buxton <BrianBuxton [at] BuxtonMotorsports.com>
Subject: Re: [Ferrari] NFC.Credit card BS
To: "Michael" <Cavallino_Rapante [at] yahoo.com>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Date: Monday, May 18, 2009, 4:38 PM


Yes merch fees range from about 2-5%.  I don't charge a fee for up to a 
certain $ amount, but if someone wants to purchase something out of the 
ordinary, such as a car, etc, I charge them the bank fees and have them 
sign paperwork acknowledging that.  On some deals a $1,000 bank fee 
could erase profits!

Brian



LarryT wrote:

>    Cool! You must have enough built in to the price to cover the merchant 
>account fee?   There was a dealership in NC that sold a new MB - and the 
>customer wanted to pay using Amex - since they publicized they accepted AMEX 
>(intended for the parts dept) they had to accept it for the new car sales.  
>Don't know ow much their merchant fee was or how much their new car margin was 
>but they raised such a fuss it was in the newpaper - 
>
>    Isn't the merchant fee usually between 2% & 4% depending on sales volumn?
>
>LarryT
>
>https://www.nrahq.org/nrabonus/accept-membership.asp
>
>Free 1 year NRA membership to anyone interested!
>  
>

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