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Can i pay my loan off with my credit card

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AH_2021
AH_2021 Posts: 1 Newbie
I took out a loan with Halifax to buy a car. I have paid nearly half of the loan, £136.00 & now approximately £20 interest a month. I now have £4,000 left to pay over 2 years.  
I also have a 0% interest credit card with Halifax.
My question is, is it possible to pay my loan off with my credit card? Pay my credit card monthly so I'm paying 0% interest or is it best to keep my loan for the remaining 2 years?
Many thanks 

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No. You'd need a money transfer, but you'll need to factor in the fees.
  • pjcox2005
    pjcox2005 Posts: 1,018 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I often say it but you could put all monthly expenses on your credit card - shops, fuel etc. and then put the money in an account. Use that money to then pay off car loan so that effectively gets the borrowing to 0% credit card.

    For some, that may be 2/3 months but i appreciate if you have low expenses this may not have much impact.
  • NewLeaf1986
    NewLeaf1986 Posts: 168 Forumite
    100 Posts Second Anniversary Name Dropper
    0% on purchases or 0% on balance transfers?

    If 0% on purchases you can PayPal a friend loads of money using your credit card as the funding source, have them withdraw the payment from their PayPal account into their bank account and faster payments the money back over to your bank account for you to clear your loan. 
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