Does American Express Do Auto Loans : Car Financing, Amex Auto Purchasing Program & Alternatives Explained

On: April 24, 2025 2:54 AM

Does American Express Do Auto Loans: American Express does not offer traditional auto loans, but you can use your Amex card for part of a car purchase through participating dealers with the Amex Auto Purchasing Program (ending April 28, 2025). Learn how the program works, available benefits, and the best alternatives for car financing, including bank and dealer loans.

Does American Express Offer Auto Loans? Here’s What You Need to Know

If you’re thinking about buying a car and wondering whether you can get an auto loan directly from American Express, you’re not alone. Many people trust Amex for credit cards and financial services, so it’s natural to consider them for big purchases like a car. Here’s a clear, friendly overview of what American Express actually offers when it comes to car financing.

Amex Does Not Offer Traditional Auto Loans

American Express does not provide traditional auto loans like banks, credit unions, or car dealerships do. You cannot go to Amex and get a dedicated car loan to finance your entire vehicle purchase1 3 6. Instead, Amex focuses on other financial products, such as credit cards and personal loans (which are not specifically designed for car purchases).

Personal Loans for Down Payments:
In some cases, you can use an American Express personal loan to cover a car’s down payment,

but not the full purchase price of the vehicle. Personal loans from

Amex are typically more expensive than auto loans and are not tailored for car buying.

Amex Auto Purchasing Program:
While not a loan, Amex has an Auto Purchasing Program in partnership with TrueCar.

This program helps you shop for cars and find participating dealers

who accept American Express cards for at least

$2,000 of your purchase (sometimes more, depending on the dealer)

You can use your Amex card to pay a portion of the car’s

price—often the down payment—and earn Membership Rewards points on that amount.

The program also offers perks like auto repair and deductible

reimbursements through the TrueCar Buyer’s Bonus, but it does not provide financing for the entire car

Should You Use a Credit Card or Personal Loan for a Car?

Credit Card Payments:
Some dealers let you use your Amex card for part of the car purchase,

but rarely for the full amount.

This can be a way to earn points, but be cautious:

credit card interest rates are usually much higher than auto loans,

so only consider this if you can pay off the balance right away.

Personal Loans:
While you can use a personal loan for a car,

it’s generally more expensive and less flexible than a traditional auto loan,

which is designed specifically for vehicle

purchases and usually comes with lower interest rates.

The Bottom Line

American Express does not offer auto loans for buying a car.
You can use Amex’s Auto Purchasing Program to shop for cars and pay a portion (like the down payment) with your Amex card at participating dealers.
For most buyers, a traditional auto loan from a bank, credit union, or dealership is usually the most affordable and straightforward way to finance a car

If you want to maximize rewards or take advantage of Amex perks,

the Auto Purchasing Program is a nice extra.

But for full car financing, you’ll need to look elsewhere