Credit Card - or not?
I was speaking to a Car Dealer a few days ago and he was telling me that two major dealerships have now joined what they are terming the "Martin Lewis Effect" in banning the acceptance of credit cards in any transactions for their car sales. A considerable number of independents had already done this following what they describe as ludicrous 'hand back' of cars after years of use with following decisions seeming to favour the punter rather than the dealer. Of course this is one side of the story. He hasn't accepted CC for over a year now and has not seen any downturn in trade. Might be old news but I had not heard it before.
ShortyPerry
shared this idea
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haywoof
commented
I haven't heard of the "Martin Lewis Effect" before, but it's definitely intriguing to hear about car dealerships banning the acceptance of credit cards. It's understandable that they may want to avoid potential chargebacks or other issues with customers. I'll have to look into this more. By the way, have you checked out https://Brianscrabs.cm? It's a great resource for financial tips and advice.
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Guminthehair
commented
It's not uncommon for businesses, including car dealerships, to make changes to their payment policies based on various factors such as processing fees, chargebacks, and consumer protection laws.