Stoozing buying a car??

mitred

Hello,

Just came across the article on stoozing and it seemed very interesting. I am looking at buying a car in the near future, I have already saved up the cash in an ISA. I have no other debts but do have another credit card which I pay off each month.

Are there any restrictions on these cards? Can I simply get a Tesco card with 0% for 15 months, pay for the car with it (approx £10 000), make the minimum payments each month, keep my cash in the ISA earning interest and after 15 months withdraw my cash form the ISA and pay off the card?

Cheers

shiny76

You can pretty much do that. However possible restrictions:

1) The credit limit you'd be allocated by your chosen credit card supplier.
2) Will the garage apply a fee for paying by credit card?*

* I bought a brand new car from the dealers in 2003 they really weren't happy about me paying by credit card. Although eventually allowed me to pay about 30% on it. Thingsmay have changed tho!

Lily1

I am thinking of buying a new Mini shortly and was informed by them that I could only pay £2000 on my credit card. It might be worth checking with the dealer.

mitred

Thanks for the tips, maybe I'll look into it.

mrs_T

Bought a car this way 18 months ago and payed garage a fee of £72 on a credit card payment of £6k. When tesco interest free period ran out I transfered the debt to a santander cc which is interest free to August so I'm starting to look for where to move it to next. I have the money in an ISA all the while.