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Paying off car loan with credit card

danielanthony
danielanthony Posts: 517 Forumite
in Credit cards
Hello,


I have £4500 outstanding on a car with VW Finance, I also have just got a Halifax CC with a £7000 limit with 0% on purchases for 9 months.

Do you think I could pay off the car loan with the CC? My intention would be to pay off the balance within the 9 month period as the loan is being charged at 14%...


Thanks

Comments

  • stephane_2
    stephane_2 Posts: 3,076 Forumite
    danielanthony wrote: »
    Hello,


    I have £4500 outstanding on a car with VW Finance, I also have just got a Halifax CC with a £7000 limit with 0% on purchases for 9 months.

    Do you think I could pay off the car loan with the CC? My intention would be to pay off the balance within the 9 month period as the loan is being charged at 14%...


    Thanks

    No you can't simply because Halifax does not allow what we call "super balance transfer" which means transferring fund from your credit card to your current account. Unless you loan company allows credit card payment which I doubt very much they do
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