Loan or credit card for car purchase?

marc5180

NeverEnough wrote: »

Here we go again - the OP didn't ask for advice about lifestyle or choice of car - he/she asked for advice on the financing of the balance of a £10K loan. If the OP wants a £10K car and can finance it, then that's his/her business!!!!!:eek:

Thankyou for bringing the thread back on topic.

marc5180

neild7744 wrote: »

alright mate,

apply for credit cards (or if you already have some) make a purchase and buy the car. Then apply for Barclaycard 0% 20 months and balance transfer from the cards used to initially buy the motor.

I did this for my girlfriends car, worked a treat. Used 2 old credit cards and split the payment (as i didnt have enough credit on one) then transferred it to a 0% card.

I think if you are dedicated you can always switch credit cards and use them to your advantage so you dont have to pay any interest. Although as you mention, a low interest loan over a short period of time maybe worth considering aswell.

Hi, my girlfriend has a credit card but I don't. I think her credit limit is only about 3k as we don't use it much.
If I was to do a barclaycard balance transfer, can I only transfer from cards that are in my name?
Would barclaycard allow me to do a balance transfer into my current account so I could pay for the car cash and not incur the CC charges most garages will charge?

marc5180

drbesty wrote: »

Fair enough, he should use the proceeds from the sale of his expensive Audi, problem solved

The Audi was on finance, as per my other thread on this site my aim is to pay my house off in ten years, to do that I decided to sell the car and the money I was paying on finance will go to the overpayments.

I got 3k back from the sale of the Audi which will go to the new car but the coupes are around 10k.

marc5180

KirbyBirch wrote: »

Agree :T good luck what car are you after ?

It's a car for my girlfriend and she wants the new megane coupe plus I quite like the look of them even though Renault aren't the most reliable cars.

marc5180

KirbyBirch wrote: »

Zopa I mean sorry just had a quick look for you, £7k at 36months 6.9% fixed £219.14per month,

That's much cheaper than I found, I was expecting to pay £250, the only problem is I would still pay £889 in interest but maybe this is my best option. Thanks

Saints2011

marc5180 wrote: »

It's a car for my girlfriend and she wants the new megane coupe plus I quite like the look of them even though Renault aren't the most reliable cars.

Very nice, havent had any experience with Renault seem to be alot of them about though.

marc5180 wrote: »

That's much cheaper than I found, I was expecting to pay £250, the only problem is I would still pay £889 in interest but maybe this is my best option. Thanks

Certainly worth looking into on Zopa the rates are always changing and they can produce a quote which will not affect your credit score whilst your still looking about. Plus they are not front loaded loans so could pay of before and save on interest. All food for thought :rotfl: