Buying a car and transferring the debt to 0% credit card

nrobinson

I am looking to buy a car but they require 10% up front by way of a cheque and then the balance by bankers draft.

The total is approx £6,500.

I had hoped to be able to by with credit card and then switch the debt to a 0% interest balance transfer card.

Is there any other way I can get the money I have paid onto one of these zero rate cards?

Cheers,

Nik.

mrcow

What you need is a super balance transfer

Although it will take a couple/few weeks probably to go through the application process. Do you have an alternate means of getting the money to your account in the meantime? Or can you wait that long for the money to come through?

nrobinson

I'm planning to shuffle some money about - so can afford to pay up front, but then want to recover the used funds and pay it back at a more steady pace on a 0% card.

From your advice I think I am going to go for a Virgin card!

Thanks, will remember MSE while driving around in new car*

MARTIN: Have you thought of a car window sticker?
e.g. "I saved money with MSE" or the like?

Nik.

Former_MSE_Dan

Car stickers are in the pipeline, keep your ear to the ground!

nrobinson

Am I not highly likely to get run over (sticker or no) if I keep my ear to the ground? <grinning>

fatboyonadiet

nrobinson wrote:

Am I not highly likely to get run over (sticker or no) if I keep my ear to the ground? <grinning>

:rotfl: Thinking of moving my car loan onto a 0% shuffle soon myself.

W1zz

I've got my car loan split between a 0% & 3.9% Life Balance Transfer cards.

Currently paying only £20-ish per month interest on £11K

There is a risk is that my next 0% CC won't give me the £5.5K credit limit I need to switch cards. So my contingency plan would be to move any money outside the credit limit to a Cahoot Flexible loan account I have available at 5.8%.

I worked out, that if I keep with 0% and 3.9% my car will be paid off in 3 yrs rather than 4yrs it would otherwise had taken me with a personal loan.



W1zz