Buying new car

Legacy_user

My hubby is thinking of buying a new car using his existing one as a trade-in and we are thinking about finance for the rest £8000 approx. The thing is normally we would shop around for the best APR  (0% not offered by SAAB they're offering 4.3% flat rate ???)but having read about using credit cards with excellent life of balance rates we are now confused.
We have both recently applied for the Barclaycard CC with 0% until August 2005 to transfer our CC debt and were wondering if it's too soon to apply for another life of balance card for the car. I think we might have about 6-8 weeks to sort this out as that's the delivery time.

We have more than enough money spread over cash Isa's , a Halifax regular savings account and Credit Union accounts to pay the £8000 but thought that would not be the most money savvy thing to do so we thought of using a facility offered with our Woolwich Openplan mortgage (up to £15000 available to spend at mortgage rate of 5.12%) and using the balance transfer CC to pay that off. Can anyone tell me if that sound feasible.

BTW we have 2 other loans at 0% finishing Nov 2004 and Feb 2006 and a buy now pay later 0% finishing Dec 2004 all of which have been paid by DD on time so they will be taken into consideration in a credit search.

hopefulfooluk

Don't get a loan for a car, it's a piece of metal which will depreciate like crazy and you'll be lumbered with a financial committment for well after it's a heap of junk.

Save the money, buy a cheap (nice!) car, and have a massive smile on your face that you've got cash in the bank and no debts.

I bought a £1400 Golf and it's comfortable, solid, and reliable, and it was the best thing I ever did since I lost £8000 in depreciation within a couple of years on my old car (which got trashed by a land rover who was asleep). I'd say a Saab would lose nearly that the second you drive it out of the showroom.

Don't do it!!!!