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Are my sums right?
Comments
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Terry_Towelling wrote: »Quite so, but you owe it to yourself (and your financial wellbeing) to get as far from a dog/pup as you can.
What sort of car and what age are you looking at?
Small city car but 5 door, petrol, no more than 5 years old, ideally mileage under 25,000
I’m not a mechanic, there always a bit of pot luck. I’ve had cars that have lasted me 10 years and others I got rid of after a year. Friends have bought brand new cars that have been nothing but trouble,0 -
born_again wrote: »So you are looking at a possible 3% fee on that, £150. So long as you can get a card with that sort of balance, and will allow a cash transfer.
Add in doing that you will lose any possible S75. So at least put the deposit on the CC.
I already have the card. The offers are 4% fee for 0% interest or 3.9% interest with no fee.
Yes it would make sense to put £100 on a card, but probably a different card.0 -
Just in case you didn't know, a £100 deposit isn't necessary. It's the value of the goods (or services) that need to be >£100 (and <£30,000). Any amount of deposit will suffice...even a pound or less!onwards&upwards wrote: »Yes it would make sense to put £100 on a card, but probably a different card.0 -
YorkshireBoy wrote: »Just in case you didn't know, a £100 deposit isn't necessary. It's the value of the goods (or services) that need to be >£100 (and <£30,000). Any amount of deposit will suffice...even a pound or less!
Thank you I didn’t know that.0 -
I think 0% purchase card is what you need, not balance transfer...
Balance transfer is for shifting higher APR credit card debt to a lower one.0 -
most car dealers won't take full payment on a card so a purchase card is no use in this instanceI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
onwards&upwards wrote: »I see what you mean, I think it’s hard to give up cash in the bank when the last year is the first time in my life i’ve ever had any! :rotfl:
If I buy the car for 5k in December and pay it off in Feb, the 3.9% interest would be less than £30.
the 3.9% APR would be the cheapest option if you stick to the plan and pay it all off as soon as the RS mature.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0
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