Cash advance then balance transfer for second hand vehicle

BakerStreetBusker25

Hi

I would like to be advised as to whether I could benefit from opening a long term 0% or low rate balance transfer credit card and then withdrawing cash of the value £2500 approx across 1 or two credit cards (HSBC and Lloyds) to pay for a second hand motorbike in a private sale. I am thinking I could immediately transfer the balance to avoid high interest rates and would only incur the cash advance and balance transfer fee. Would this bring my overall costs down as opposed to taking out vehicle finance or a private loan? Are there any other charges to be consider or any reason as to why I shouldn't do this?

Thanks

George

[Deleted User]

It's an expensive way of doing it. Why not a money transfer card?

How long will it take you to pay it off?

Ben8282

3% cash advance fee plus whatever the balance transfer fee is. Decide for yourself.

MallyGirl

taking cash out on credit cards will show in your credit history - not generally recommended as it makes you look a bit desperate for money