What type of account? 29 November 2007 at 2:35PM edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts 1 reply 448 views

celloglas

I have the money to buy a car outright,but they are offering me 4 Years interest free credit.Would i be better opening a new account and allowing it to be taken out every month.It isn't going to cost me any extra and i could earn interest on my money,i have no idea what account would be best for this though.Any ideas anyone?

CLAPTON

can you negotiate a lower price instead of the interest free credit?


if not however then
presumably your money is in a good savings a/c (i.e. high AER a/c) at the moment? why not leave it there and just draw out sufficient each month to pay the monthly payments.
Most savings a/c dont allow DDs but you can simply transfer an amount into your current a/c and set up a DD to the car company from there.