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How to Buy a Car with Your Paycard


Thinking about buying a car with your SOLE Visa® Payroll Card? When it comes to making large purchases with your paycard, there are a few things that you should know. If your SOLE Paycard begins with: 4302, 4326, 5205, or 5060 keep reading to find out what the best options are for your unique purchasing situation.

Buying a Used Car from a Private Seller:

The Safest Option: Venmo & PayPal

Connecting your SOLE Paycard to Venmo and PayPal is an easier and quicker alternative to cash. Once you’ve connected your paycard to the apps and verified your identity, the amount of money you can send in a single transfer increases – so be sure to do this before your big purchase. You can send $2,999.99 with Venmo per week and $10,000 with PayPal in a single transaction. Using Venmo and PayPal can also serve as a proof of purchase. If you have any problems with the seller or the item down the line, it’s always good to have a paper trail.

Getting Cash

If you absolutely must use cash, be careful, and keep in mind that each ATM has a unique withdrawal limit, set by the owner. Depending on the ATM's limit, you may have to make multiple withdrawals with your paycard to reach your daily limit of $1,000, and paying the ATM fees for each transaction can add up. At some retailers (like grocery stores) you can swipe your paycard as “Debit” at the point of sale to get cash back without an additional fee, although the amount of money you can take out is typically lower than that of an ATM. Your paycard has a specific cash back limit and each store has its own limit for cash back. Take a few minutes to call nearby stores and find the one with the highest limit (usually Walmart). Sometimes, retailers will charge a $3 fee if you are getting more than $1,000 in cash back.

Smarter Money Orders

After you've gotten the cash you need for your purchase, you can use it to buy a money order if you’re worried about carrying a large amount of cash. Money orders are safer to carry than cash because once you've filled out the recipient's information, it can't be used by anyone else. Some stores (like WinCo Foods*) will even let you run your paycard as “Debit” to buy money orders (instead of using cash). You may have to buy multiple money orders depending on the retailer's money order value limit.

Buying a Car from a Dealership:

Swipe or Use Direct Deposit

At a dealership, you don't have to bother with cash - you can swipe your paycard as debit to make a purchase of up to $9,999. Please note: if you swipe your card as a credit/signature purchase, the limit is set to $1,250. To raise the daily ACH or credit/signature limits, please call customer service before making your purchase. You can also give the dealership your paycard's routing number and account number, which they can use to debit up to $1,000 from your card using ACH (kind of like reverse direct deposit). 

We're here to help. Call 800-457-5809 to speak with an account manager if you have questions or need assistance.

*We cannot guarantee this option. Third-party retailers may change their policies at any time.

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