Car Loan

MM2002

Hi All,

I am about to get a new(ish) car, and PX my Astra 2.0T Twintop, due to ridiculous road tax(over £530 a year!) and am wondering how to get the funds for it.
My astra would get around 5K tops and im going all sensible(yawn) and looking at Diesel Insignia's at around the 10k mark.
I have no outstanding credit cards, and a 50k mortgage on a 230k house.I dont want to pay more than 200 a month on any loan.
Would it be best to get a cc with a long int.free period, and transfer the outstanding amount after the int free ends, to another int.free card, or use the fact the garages give you more off the car if you use their loan companys(looking at a network q, or car giant)
What would you suggest peeps?
Thanks in advance,
Matt

tlh858

Garages only give you the car for a lower price when using their loan because they get a big wedge of money from the loan provider. You will end up paying for this as part of the loan.

If the £530 road tax is your main reason for changing car, you may want to think again - that is a very small sum compared to the interest you will pay on a loan for the new car.

The 0% credit card thing could work, but only if you already have or can get a card with a suitably high limit - which is by no means a certainty. There is also the possibility of not being able to transfer to another 0% card when the deal ends, in which case you will be paying a substantial amount of interest on the remaining balance.