In this piece from Consumer Reports on how to deal with car dealership closures, they make this statement:
Use a credit card. Whether you’re making a down-payment, ordering parts or accessories, or getting repairs or service, use a credit card. If the dealer fails before your vehicle or parts are ready or before you have a chance to complain about shoddy or incomplete work, you can challenge the payment with your card issuer. If you pay with cash, check, or debit card, you’ll likely be out of luck. Just be sure to use a credit card with no balance so that you don’t pay finance charges.
I'm still fascinated (excited?) about the idea of paying at least a portion of a car's purchase price with a credit card. Why? Well, if you're using a 2% cash back card like the new Schwab card, a $20,000 charge for a new car can net you an easy $400. And even if they "only" let you charge $5,000, that's still $100 you can earn for doing nothing, right?
Of course you'll want to pay off the charge right away, but if you've already saved up the money, that's no big deal.
I'm still a couple years away from needing a new car, but I'm certainly going to add this to my tried-and-true method of buying a car using the web.
Now for a question: anyone out there ever pay for their car (or part of it) using a credit card?