MCC 5511 represents transactions related to car and truck dealerships, covering both new and used vehicle sales.
Interchange Fee
Interchange fees for transactions under MCC 5511 can vary based on the card network, generally ranging from 1% to 2.5%, depending on whether the transaction is in-store, financed, or processed differently.
Cashback Rewards
Cashback rewards for car and truck dealership purchases often do not apply due to high transaction amounts, although some premium credit cards may offer special rewards for automotive purchases.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors for transactions associated with MCC 5511.
Tax Reporting
The IRS does not apply unique tax reporting requirements for purchases under this MCC. Buyers may be subject to standard state and local taxes on vehicle purchases, including applicable registration fees.