Barclaycard-can I use it to pay off my car loan?

mazy_m

Hi all...

So not a newbie but still very dim when it comes to Credit Cards...what you can and can't do....so Barclays gave me a bigger limit than I expected or needed....i'm not complaining but I have money outstanding on a car agreement and I can't sell it (to get rid of completely or to get a cheaper one) until it's paid off...

So the situation is this...

I need to pay £2,666.56 to be free of this agreement by the 17th November.. I've saved a little up and am due back some money from the PPI team I do have other debts but they're all at 0% with many months still to go and i've set up payment plans in my budget for this which is manageable and leaves me with money spare (a breath of fresh air finally after the last few years!!)

I don't want to be silly and run loads of money up on my new Barclaycard so (I know people will advise against this next move but I know him well we've been together a long time and I trust him with my life and our cats life more importantly!! )

So I'm Balance Transferring some of my partners higher interest debts onto the card and with what's leftover.... still a fair amount I was wondering if there's anyway I can somehow pay off the car loan?

Is there any way I can use this card to pay off this loan without incurring hefty fees etc. I think it's something like 3% to pay via credit card if that makes sense I think it would cost something like £79 for me to pay it off using the credit card. Is this worth it? As with this paid off I'll save 12% off my future payments to them?

Or would anyone advise to just save up the rest of the remaining money and pay it off then? This would mean another few months of really being tight on what I spend and pay it off without incurring the £79 fee but not saving as much on interest as I would have been.

I don't know if this figure helps

Balance left on car:

£2961.92 (26 months of £113.92 left to pay)

Early settlement figure £2666.56 (if paying by Credit card 3% on top!!)
if anyone knows a cheaper way yaaaayy!!

Thanks all for reading this and I hope I haven't confused you too much!!

Maz