Repaying loan early options

[Deleted User]

Hello,

I currently have a debt of £4,331.94 and I pay £127.49 a month, I have 35 months left until it's cleared. However, I think I may be in a position to clear most of it early, if not all of it, now or very soon.

If I repay early I only have to repay around £3650 so it's an attractive proposition. I have £2900 in savings which I can use to clear most of it. However, I'm still left with £750, which I can continue repaying only a monthly basis but I was wondering if I could repay it using a credit card or something similar? I regularly see credit cards offering interest free credit for 19 months (Tesco) or free balance transfers for 19 months, again with Tesco. Would it be possible for me to repay the £750 using an interest free balance transfer or something similar and then I can repay the credit card soon as I have £750 (within a 19 month period, hopefully a few months to be honest!). Is this a possibility? Sorry if I have got the use of credit cards wrong, it's pretty difficult trying to understand any of it to be honest.

I'm really excited about repaying off this debt early, so is anyone able to offer advice on how I can clear this debt quickly and cheaply as possible?

Many thanks and I look forward to your replies.

Cycrow

You cant usually use credit cards to pay of other credit

the only way u'll be able to pay off a loan is if you have a money transfer offer (transfer money from credit card to bank account) Then use that money to pay off the loan.

however, as the amount of the loan left is small, it might not be worth trying to transfer the money, as the fees could end up costing more than the loan would

[Deleted User]

Just wait until the end of the year when you have ~£3200 in cash and the amount owed is down to ~£3200, it's only a few more months and is not worth getting into further debt just to try and pay this off immediately. If you share the interest rate on the debt we can calculate the exact amount you would save by taking out further credit to do this.

[Deleted User]

Many thanks for your replies. I'll repay t soon as I have all the money which will be some time towards the end of the year. Can't wait to be debt free!