Advice req'd re GE Capital loan

MascaraMinx

We bought a car on finance in Jan this year. It is with GE Capital bank and the APR is about 15.9%. Very high and unnecessary. The plan at the time was always to transfer it over to a cheaper rate, but we've had to delay until now for various reasons.

So we've got an outstanding balance of about £5,500 and I am looking for the cheapest loan/ lender to transfer this to.

One idea I had was to get a 0% card like with the Post Office and pay off as much as poss over the next 6 months before putting it into a loan. But I don't know if they would give me a limit that high.

What do you guys think?

chani1

the best thing i can think of is to put it on a low rate unsecured loan that doesn't have an early re pymt charge then when the balence becomes a lower amount say in a year then transfer to a card that will give you the limit because credit cards don't genrally give limits that high to start with. i believe northern rock have a 5.8 apr with no charges it maybe worth looking into.