buying a car on a credit card shoud i

peter2511

hi i am looking to buy a used car for about £2000. i have a bed credit score so the rate i got for the fiance was 24.9% apr

so i was thinking about getting this on my credit card as it is only 15.9% apr

am i right in thinking this would be the best thing to do

ramellous1

My god you must be a stud. How do you get a BED credit score that you can get 24.9% for your FIANCE..:-)
Seriously though, I am sure someone will help you on here but I could'nt help myself..

Fruit_and_Nut_Case

peter2511 wrote: »

hi i am looking to buy a used car for about £2000. i have a bed credit score so the rate i got for the fiance was 24.9% apr

so i was thinking about getting this on my credit card as it is only 15.9% apr

am i right in thinking this would be the best thing to do

1. Having a credit card with a limit of at least £2000 and an interest rate of 15.9% is not indicative of someone with a bad credit score, in my opinion.
2. The seller will probably want to add on at least 3% if you want to use a CC.
3. If you're still happy, go for it.
4. This is the Stoozing Board, so not really the best place to ask this question.

Fruit_and_Nut_Case

ramellous1 wrote: »

My god you must be a stud. How do you get a BED credit score that you can get 24.9% for your FIANCE..:-)
Seriously though, I am sure someone will help you on here but I could'nt help myself..

I so wanted to say something along those lines but I resisted the temptation.

byebyedebt

5 minutes later I am still laughing at the fact that you got a bed and also 28 percent for your engaged girlfriend.

LOL.

I bought my current house using 30 K borrowed on credit cards at 0% so yes it is possible. Ah the good old days before they charged for balance transfers.

Ok so your credit card is 15.9% and finance is going to cost 28%. In principle you will save roughly 12%.

However, most companies will charge additional fees for large payments on credit cards. Typically 2% so your car is then going to cost about £40 extra.

Also bear in mind that credit cards are variable, and the rate could go up with 30 days notice. Technically you can reject any rate rise provided you contact the card company within 30 days but they might require you to cancel your card.