We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Buying a car- best option?
aleycat65
Posts: 2 Newbie
in Credit cards
Hey, firstly apologise if this is the the wrong place but I found the site a little confusing to navigate!
I am due to buy a car in a few weeks, looking at around the £16,000 mark. I have £4,000 deposit and i am interested in buying- not a PCP.
My question is, how best to finance the rest? HP seems easiest but not necessarily cost-efficient. A personal loan seems like an okay way to go, but again the interest mounts up a little-nothing disastrous.
But, I have looked into combining a few options, splitting the amount between 2 0% credit cards ( or 1 and a loan for the rest) and then balance transferring when the 0% period runs out. I have never done that before and so i'm not sure if that is a risky strategy or not?
What would you do and which method have you preferred in the past?
I am due to buy a car in a few weeks, looking at around the £16,000 mark. I have £4,000 deposit and i am interested in buying- not a PCP.
My question is, how best to finance the rest? HP seems easiest but not necessarily cost-efficient. A personal loan seems like an okay way to go, but again the interest mounts up a little-nothing disastrous.
But, I have looked into combining a few options, splitting the amount between 2 0% credit cards ( or 1 and a loan for the rest) and then balance transferring when the 0% period runs out. I have never done that before and so i'm not sure if that is a risky strategy or not?
What would you do and which method have you preferred in the past?
0
Comments
-
I would keep it as simple and cost effective as possible, but should be cheapest if you can organise yourself.0
-
What if your 0% is ending and you cannot get a loan for a low amount for some reason?
I wont buy anything if it means paying interest, all those monthly direct debits for insurance etc. with a % fee or charges soon adds up.
Surprising how it soon adds up.
Buy something can you can clear within the 0% period?Censorship Reigns Supreme in Troll City...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards