Best way to buy a car

artyman

I'm buying my wife a car for Xmas (impetuous old !!!!!! that I am!):T

I don't want to pay anyone interest if I can get away with it for the amount I need to finance.

Took Martin's advice and got a Virgin credit card (took 5 mins max!) and did a balance transfer to my current account to pay for the car.

This is because car dealers don't usually accept credit card payment. Paid a one off transfer fee (2.98%) which was paid by the 1% interest rate drop on my beautiful tracker mortgage.

No need to take the car dealer's finance or expensive loans.

The loan will be paid within 12 months which is great because the transfer is 0% interest for 16 months!!:rotfl:

Am I a tart, or what?? :j :j :j :j

Many thanks Martin.

thriftymomma

Well dony you! Isn't MSE the best!

artyman

MSE is the tops. :money:

Also got big refunds on endownment and council tax!

...and insurance savings.:cool:

Ivor_Bigun

artyman wrote: »

I'm buying my wife a car for Xmas (impetuous old !!!!!! that I am!):T

Well done, nothing like a new car...treated myself to a new Lexus 250SE 6 weeks ago, got a good deal off a desperate salesman :T

tonymaffoy

Walk into you local credit union or bank. Tell them that you want a $300-500 loan for 6 months. AND PUT THE MONEY INTO A SAVINGS ACCOUNT. DON'T SPEND IT. Pay it on time. It should only cost you about $30 max in interest/fees and will raise you credit greatly. It's a cheap way to get credit.

Also just buying a lower cost car for 3 years and paying it off will increase your credit.

As for a credit card, There are other ways in building credit, never buying on a credit card will make you the top 1% of Americans who don't have credit card debt. Just don't start.

ragingbass

Superb stuff!! I've done the same now for my last two car purchases and it's saved me a hell of a lot in interest :-)