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  • FIRST POST
    • RockandGrohl
    • By RockandGrohl 9th Oct 17, 9:47 PM
    • 45Posts
    • 10Thanks
    RockandGrohl
    0% Credit Card to fund a sensible car purchase from private seller
    • #1
    • 9th Oct 17, 9:47 PM
    0% Credit Card to fund a sensible car purchase from private seller 9th Oct 17 at 9:47 PM
    Hello,

    I'm getting lots of mixed advice so thought I would come here.

    I'm after a Fiesta Ecoboost, these go for around £4200 and I'm looking to borrow £4000 on a 0% interest card.

    It seems Sainsbury's bank or Halifax or Virgin Money are my best bets. However I'm unsure what card I should go for.

    As it's a private seller, I need to be able to accrue £4000 in cash, so would need to transfer £4,000 into my normal bank account and withdraw it to purchase the car.

    What's my best option for doing so? I'm confused as to whether I need a spending card or a transfer card etc.


    As for repayment, I want to cut it into the equal X months and then pay off more so I can clear the debt faster than normal - this has already been budgeted for and is possible.

    Thank you!
Page 1
    • zx81
    • By zx81 9th Oct 17, 9:53 PM
    • 13,656 Posts
    • 14,106 Thanks
    zx81
    • #2
    • 9th Oct 17, 9:53 PM
    • #2
    • 9th Oct 17, 9:53 PM
    You'd need a money transfer card.
    • worried jim
    • By worried jim 9th Oct 17, 9:56 PM
    • 8,633 Posts
    • 13,158 Thanks
    worried jim
    • #3
    • 9th Oct 17, 9:56 PM
    • #3
    • 9th Oct 17, 9:56 PM
    Make sure the engine has had its degas pipes replaced, they go brittle and crack causing a loss of coolant fluid and a warped head through head gasket failure requiring a new engine.

    http://forums.moneysavingexpert.com/showthread.php?t=5612757
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Ben8282
    • By Ben8282 10th Oct 17, 2:16 AM
    • 2,040 Posts
    • 892 Thanks
    Ben8282
    • #4
    • 10th Oct 17, 2:16 AM
    • #4
    • 10th Oct 17, 2:16 AM
    As you will need the money in cash your only option will be to obtain a money transfer card. A balance transfer or purchases card will be of no use for this purpose.
    Try https://uk.virginmoney.com/virgin/credit-cards/money-transfer-cards/
    • RockandGrohl
    • By RockandGrohl 10th Oct 17, 10:27 AM
    • 45 Posts
    • 10 Thanks
    RockandGrohl
    • #5
    • 10th Oct 17, 10:27 AM
    • #5
    • 10th Oct 17, 10:27 AM
    Awesome, thank you. I have to admit I was confused by the different types of Credit!

    So money transfer it is and so far 25 months 0% with 2% fee is the benchmark to beat.
    • RockandGrohl
    • By RockandGrohl 10th Oct 17, 12:00 PM
    • 45 Posts
    • 10 Thanks
    RockandGrohl
    • #6
    • 10th Oct 17, 12:00 PM
    • #6
    • 10th Oct 17, 12:00 PM
    Make sure the engine has had its degas pipes replaced, they go brittle and crack causing a loss of coolant fluid and a warped head through head gasket failure requiring a new engine.

    http://forums.moneysavingexpert.com/showthread.php?t=5612757
    Originally posted by worried jim
    Thanks for the advice. After research this issue is mainly with the Mk3 and 3.5 Focus Ecoboosts. Fiesta's do have this problem but nowhere near the same degree.

    I'm coming from an MG ZR so know all about leaking coolant leading to Head Gasket failures
    • WillyWonga
    • By WillyWonga 10th Oct 17, 12:29 PM
    • 267 Posts
    • 143 Thanks
    WillyWonga
    • #7
    • 10th Oct 17, 12:29 PM
    • #7
    • 10th Oct 17, 12:29 PM
    Most cards whether it be balance or money transfer wont allow you to transfer the whole balance of the card, usually only 95% to take into account the fee charges etc. So bear this in mind if only get a £4k limit.

    Fee is £80. Dont fall into the credit card trap of the min payment on your statements. Might be £40 or so depending on the card companies. Ok, granted, you wont be paying interest, anything you do pay will be straight off your balance. But 2 years will pass quickly. By paying £170 month towards your balance will clear it in 2 years and you should still have a decent trade in value.
    • Candyapple
    • By Candyapple 10th Oct 17, 12:53 PM
    • 2,339 Posts
    • 1,771 Thanks
    Candyapple
    • #8
    • 10th Oct 17, 12:53 PM
    • #8
    • 10th Oct 17, 12:53 PM
    Here is the eligibility calc to check to see what you are likely to get:

    https://creditcards.moneysavingexpert.com/?money-transfers&_ga=2.194910629.983962818.1507628140-160981962.1507628140
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • BillTrac
    • By BillTrac 13th Oct 17, 3:29 PM
    • 1,695 Posts
    • 1,423 Thanks
    BillTrac
    • #9
    • 13th Oct 17, 3:29 PM
    • #9
    • 13th Oct 17, 3:29 PM
    Thanks for the advice. After research this issue is mainly with the Mk3 and 3.5 Focus Ecoboosts. Fiesta's do have this problem but nowhere near the same degree
    Originally posted by RockandGrohl
    Had this exact problem last year. Luckily covered by Ford Warranty so DIDN'T cost me £4500!!
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