Ford Credit - Final Payment

mlawton40

Hi, I'm not sure if I've posted this in the right place but it's credit related so I hope so


I am coming up to the end of my 2 year Ford Option and can now either pay off the balance and own it, give it back or get a new one. I am paying off the balance and owning it this time as I've been stuck in a circle for the last 6 years and if I don't do it now I'll always be paying monthly.


My final balance is £5500. I intend to pay £3500 with debit card (cash) and was intending to pay the other 2k on my interest free credit card (mastercard).


However, I suddenly thought will Ford allow me to pay by credit card? As presumably the balance is already credit (Ford Credit) so that would mean I'm paying credit off with credit?


No problem if nobody knows... I'll be able to contact them tomorrow to find out.

manami_mnm

Technically the cash in your hand is credit.

thebritishbloke

manami_mnm wrote: »

Technically the cash in your hand is credit.

This isn't a useful answer.

A lot of HP lenders allow you to pay off finance using a credit card, although it usually levy an ~2% fee. Contact your credit card provider to see if they would class this as a purchase or a cash advance. If they class it as a cash advance, it'd be worthwhile for you to get an MBNA card and do a 0% money transfer.

jonesMUFCforever

They will charge you a fee for paying by credit card.
Take care though as if you do not pay off early they will take the final payment as a d/d from your bank account.