Can I buy my car from Ford?

zygote23

I'm at the end of my agreement with Ford finance in January 1029 and rather than hand the car back and take out a new one I am tempted to buy it outright.

My question is could I open say and HSBC )% purchase credit card account and pay for the car with that.

Obviously this would then give me a 29 month 0% period to pay off the balance.

Logical or not?

Cheers in advance of replies.

[Deleted User]

It depends if they accept a credit card as payment

BoGoF

Depends on what type of agreement you have, does the contract allow you to buy?

jonesMUFCforever

As above if you have the right to purchase (PCP or hire purchase) then yes - if it is a lease agreement you might not have the right to do so.

I don't think they take credit cards so you need to have a money transfer card rather than a balance transfer card.

zygote23

Cheers for the replies folks.

My options are:-
Hand it back and walk
Hand it back and take out a brand new model
Buy it outright at a pre agreed amount

I'll give Ford a ring and see if they allow a card payment then I guess I would just have to time the opening of a new Credit Card account well.

eskbanker

Bear in mind also that even if they accept credit card payments, you may not qualify for a high enough credit limit on a brand new 0% card if you get it at all - what's your credit history like?

maxximus75

If they dont accept credit cards to pay off your balance then you will need to open a Money Transfer card such as one from MBNA or Virgin.


This will allow you to transfer money into your bank account (with a fee) and then you can pay your finance off from that.


You can then pay off the ammoun you transfer t at the rate you are accepted for?

zygote23

Cheers again guys......my credit score is pretty damn good. I've never been refused a card in the past and regularly juggle 0% to save money or just give me a little flexibility.

I could I suppose pay the car off out of my current account then do a cash transfer from a credit card or balance transfer.

I'll give Ford a call tomorrow or next week.,

scott_lithgows

zygote23 wrote: »

Cheers again guys......my credit score is pretty damn good. I've never been refused a card in the past and regularly juggle 0% to save money or just give me a little flexibility.

I could I suppose pay the car off out of my current account then do a cash transfer from a credit card or balance transfer.

I'll give Ford a call tomorrow or next week.,

if you have the cash to pay it off then anothef option would be to get a purhase card and pay the bills on that up to the amount you need.
Eg pay say 5k and pay for all your bills on credit card till it reaches 5k.
Just an idea

DCFC79

zygote23 wrote: »

Cheers again guys......my credit score is pretty damn good. I've never been refused a card in the past and regularly juggle 0% to save money or just give me a little flexibility.

I could I suppose pay the car off out of my current account then do a cash transfer from a credit card or balance transfer.

I'll give Ford a call tomorrow or next week.,

Despite your score being good whats on your credit history as ghats what lenders see.