eek, confused about best long term purchase

squishy_2

I'm about to buy a car. I have about 1/4 of the price in cash and planned to write a credit card cheque for the rest (£4600) and then transfer onto a 0% card and pay off the balance within the 0% period.

BUT I find out now that the cheque incurs a 3% fee now and if I do a balance transfer (was planning Sainsburys as it's a 12 year period and can also get 0% on my shopping there and bank the cash in high interest in the meantime) it's another 3% - total of £280 extra.

The cheque company have offered me 4.6% for 6 months - this is the confusing bit. I'm a total dullard with regard to percentages but understand that this is a yearly rate, how much interest would I incur on a monthly basis.

What I'm basically trying to work out is if I'd be better off keeping it on the 4.6% for a bit and then paying a lower balance transfer on lesser amount OR if the interest I'll accumulate each month anyway would make this a more expensive option.

I know it's a stupid question and am actually quite good at maths, it's just money maths I suck at! TIA

Bokkens

The £4600+ a quarter = £6133 for the car with two lots of 3% BT fees that is a extra £368.
£6133 - (the cash amount= £1533) leaves £4600 @ 4.6% = £211 .
The 0% BT offer on a credit card maybe between 12-15 months after that you will have to do another BT with another fee if you haven't paid it off in full by then.
The loan rate is a good one,but remains on the loan until it is paid off so if you pay £1000 a year,the second year you will owe £3600 +4.6% so £3765.
Hope that helps