CC to fund purchase of car - advise

Peter_87

Currently looking to purchase a car (Private Seller) for between £1k to £1.5k using a CC - as this will require cash I am looking at a card which will allow Money Transfer transactions with a 0% period of 14 months+

Using the Eligibility Check I think that the MBNA Platinum is my best option.

Does anyone have any experience in using a CC to fund a car purchase?

Currently looking to raise additional money to reduce amount being borrowed on CC (i.e. scrap/sell old car, sell stuff from house etc).

Does the above sound reasonable?

YorkshireBoy

Peter_87 wrote: »

Does anyone have any experience in using a CC to fund a car purchase?

Your question is really "does anyone have any experience of getting cash at 0% off a credit card?" because what you do with the cash once you have it is irrelevant. Many people put it in savings accounts. Others pay down their mortgage with it. Some even invest it on the stock market. And many others will have done what you are planning of course.

So the answer, of course, is loads of people!

You've chosen your card wisely though. If you're paying a 4% fee you may as well get the longest 0% introductory period.

Go for it!

jonesMUFCforever

OP you also need to check how much of your limit you can transfer as cash.
Some may have a % limit.