What if you could save money toward the purchase of a new car while you were spending money on other things? Several car manufacturers offer reward credit cards with that very idea in mind. With these cards, you can earn points or cash back on retail purchases made with the card that you can use to help finance your next car purchase or save on parts and service after the sale.
Below is a list of automakers offering rewards cards.
BMW Card: This Visa card from BMW Financial Services allows you to earn reward one point for every $2 you spend, with double points on gasoline purchases. Redeem your points for a number of different rewards, including discounts on car maintenance services, up to $5,000 back on a BMW lease or loan, more lease miles, and BMW-branded merchandise. For $50 a year, you also can take advantage of Performance Plus Rewards that provide additional discounts on retail purchases and air and hotel travel.
GM Flexible Earnings Card: A no annual fee credit card that pays you 1% unlimited cash back on purchases and 3% earnings on purchases when you redeem toward an eligible, new GM vehicle. (Note: GM also has special credit programs for business owners and GM employees and their family members.)
Lexus Pursuits Visa Card: Earn five points for every $1 spent at participating Lexus dealerships and one-and-a-half points for every $1 spent elsewhere. Points can be redeemed toward Lexus accessories, parts, and service or toward 10% off a purchase or lease of a new Lexus.
MINI Platinum Visa: Earn up to $5,000 back on the purchase or lease of a MINI, plus an additional $5,000 back if you finance through MINI Financial Services. You’ll receive one point for every $1 spent, with double points on gasoline, car washes, and purchases at MINI dealerships. Points also can be redeemed for service repair charges, valet miles, MINI gear and clothing, car accessories, and more. The card face is customizable with your choice of MINI car model.
Subaru Platinum MasterCard: Earn up to $5,000 per year in Subaru Reward Dollars that you can redeem for Subaru parts and service, lease or purchase of a new Subaru, or purchase of a Subaru Certified Pre-Owned vehicle.
Toyota Rewards Visa: Earn five points for every $1 spent at a participating Toyota dealership and one point for every $1 spent elsewhere. Redeem points at your Toyota dealer toward parts, service, and accessories charges or the purchase or lease of your next eligible Toyota.
Volvo Parts & Service Credit Card: While no points or cash back rewards are earned toward the purchase of a new Volvo, this card can help make budgeting and paying for repair expenses a little easier. Use this card to pay for parts, service, and accessories and if you pay your balance in full within six months, you won’t pay interest.
Cards may also include additional benefits such as auto rental insurance, travel and emergency assistance, or road-side assistance.
Be sure to read the fine print for details on interest rates, annual fees, and late payment charges.