car loans

Katie22

I have been told that that if I take out dealers own to buy a car & then pay off with interest free credit card before the 1st payment is due I will not be liable for any fees. Is this correct? thanks

foxy-stoat

1. Will you be able to clear a loan with an interest free credit card?
2. You will pay fees from the credit card for the 0% interest free period, if the card company allow you to clear a loan with the card.
3. You will probably pay some interest or admin fee from the dealers lender.

So, read your credit card balance transfer offer terms and conditions, also read the dealers credit agreement terms and conditions and let us know if you will pay any fees.

You should have all the answers somewhere in the paper work you have.

[Deleted User]

Depends on whether the dealer will charge you a fee for the card payment, or if there are early settlement fees.

L&ES

You would need to check that the finance company will accept payment by credit card. Just this morning I logged into my finance agreement account to see if I would be able to pay the balance by credit card and then do a balance transfer to a 0% card but no such luck - the company will only accept payment by debit card, cheque, bank transfer or over the counter in a bank.
Seeing as I only have a £450 overdraft I don't know how I can get around this but it will save me about £1000 if I could shift the debt onto a 0% card!

foxy-stoat

Credit card with a money transfer would be your only option.