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Best way to finance a car purchase
nobody_will_have_this_use
Posts: 3 Newbie
in Loans
Can anyone help !!
I am looking to replace my car and intend borrowing in the region of £9000 over 3 or 4 years. The best unsecured loan rate I can find is with the N-Wide at 7.6% so payments would be approx £220 per month. Is it possible to be more savvy and finance this via credit card - say purchase it on a new card with 0% interest over 12 months and then transfer onto a deal with a lower rate till paid? What about 'minimum' payments if I borrow as much as £9000? -
I am looking to replace my car and intend borrowing in the region of £9000 over 3 or 4 years. The best unsecured loan rate I can find is with the N-Wide at 7.6% so payments would be approx £220 per month. Is it possible to be more savvy and finance this via credit card - say purchase it on a new card with 0% interest over 12 months and then transfer onto a deal with a lower rate till paid? What about 'minimum' payments if I borrow as much as £9000? -
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Comments
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nobody_will_have_this_use wrote: »Can anyone help !!
I am looking to replace my car and intend borrowing in the region of £9000 over 3 or 4 years. The best unsecured loan rate I can find is with the N-Wide at 7.6% so payments would be approx £220 per month. Is it possible to be more savvy and finance this via credit card - say purchase it on a new card with 0% interest over 12 months and then transfer onto a deal with a lower rate till paid? What about 'minimum' payments if I borrow as much as £9000? -
If you have a deposit there are lots of new cars available on 0% finance. Some manufacturers also offering low rate finance.
Mazda, Vauxhall, Skoda, etc...
"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0 -
Thanks for reply. I was looking for a 'second hand / nearly new' car and therefore will not be offered the 0% finance deals.0
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Thanks for reply. I was looking for a 'second hand / nearly new' car and therefore will not be offered the 0% finance deals.0
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best way to finance the replacement car is to save up the money first and then spend it
no risk, no interest charge
you know it makes sense0
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