3k needed...questions asked

coullj

Hello people,

I am in the process of buying my first house (should all be completed within the fornight), however I need to buy a new car now as my current one just died on me.

As funds are a bit tight at the moment I will be looking to get the money for the car from elsewhere. My first question is...with me getting this other liability, be it Loan, Credit Card, Finance does this affect my Mortgage? (It's all been approved, just waiting to exchange contracts now.)

Secondly, the way in which I'll finance the car purchase. I've had a look on the site and can't decide whether getting a Credit card or a Loan would be the best idea?

If was to get a Credit card to purchase it on, say the Tesco 0% for 13 Months. Would I have to pay nothing on it for 13 months?

Many Thanks for your help

Josh

Jeff_Bridges_hair

coullj wrote: »

Hello people,

I am in the process of buying my first house (should all be completed within the fornight), however I need to buy a new car now as my current one just died on me.

As funds are a bit tight at the moment I will be looking to get the money for the car from elsewhere. My first question is...with me getting this other liability, be it Loan, Credit Card, Finance does this affect my Mortgage? (It's all been approved, just waiting to exchange contracts now.)

Secondly, the way in which I'll finance the car purchase. I've had a look on the site and can't decide whether getting a Credit card or a Loan would be the best idea?

If was to get a Credit card to purchase it on, say the Tesco 0% for 13 Months. Would I have to pay nothing on it for 13 months?

Many Thanks for your help

Josh

No you would just would not pay interest for 13 months. the problem there is if you dont check what the APR is after the interest free period is. Best to pay off each month if you go down that route.

runninglea

As with any credit card you will need to ensure the minimum payment is paid each month. This ensures you can have 0%, any missed payment and interest will go to normal apr

mjm3346

coullj wrote: »

Hello people,

I am in the process of buying my first house (should all be completed within the fornight), however I need to buy a new car now as my current one just died on me.

As funds are a bit tight at the moment I will be looking to get the money for the car from elsewhere. My first question is...with me getting this other liability, be it Loan, Credit Card, Finance does this affect my Mortgage? (It's all been approved, just waiting to exchange contracts now.)

Secondly, the way in which I'll finance the car purchase. I've had a look on the site and can't decide whether getting a Credit card or a Loan would be the best idea?

If was to get a Credit card to purchase it on, say the Tesco 0% for 13 Months. Would I have to pay nothing on it for 13 months?

Many Thanks for your help

Josh

The mortgage can be pulled anytime before the funds have actually been paid so be careful. If you are at the limit of what they would offer any additional credit would cut your available mortgage.

[Deleted User]

personally id wait till the house purchase completes,even if it meant hiring a cheap car for a couple of weeks?

lowbrim

Agree with Woodbine and then try ZOPA.

Apples2

You really don't want to go risking your first home for a piece of tin on wheels.

Bangeromics the order of the day. Get a battered banger for £300 until your house is sorted.