finance options for buying a car

BenL

Are you looking for a new car? 15K might not get something big enough but the Koreans etc might have something for you.

Dealers may have a 50/50 finance agreement where you can use your current car and a little cash as the 50% deposit then spread the other 50% over 1 year.

longwalks1

Tixy wrote: »

If you get an egg super balance transfer card it will cost 3% to transfer the money to your current account, so you would then have cash and have 13months to pay it off with no extra charges/interest.


So the cost would be similar. Of course if you have the cash you might get a better deal or have the option to buy privately.

Thank you Tixy, i was hoping someone would say about this, wasnt sure if they existed, so 3% of £8k = £240 (i think), so basically id be borrowing £8k and paying back £8240 if all paid off in the year?

Thanks again everyone

Tixy

Yes - the cards you can do transfers to your current account are all listed here - http://www.stoozing.com/sbt.php

Depending on what limit you might get you might need more than one card but essentially the maths are the same. You need to consider the fee to transfer which are anything from 2.98% to 4% and the amount of months interest free. Virgin has the longest at 14months.

longwalks1

Thanks again Tixy your a star, will do my maths today and post back here and see what everyone thinks is best, thinking about buying the whole car via stoozing, and selling our current one privately t oget more than i would with trading it in