Personal cash question

wooders

Hi experts - CAN YOU HELP!!
Car loan with Sainsburys balance = £13478 as of today.
Over 5 years as of Oct 07.
Paying £266 per month at an annual interest rate of 6.55%.
I have (according to experian) an excellent credit rating.

Questions I have to all out there are;

Is it worth my while transfering this to a 0% CC (3% transfer = £404.34) ?
If it is worth it, would CC companies take a £13k balance ?
If not £13k would it be worth maxing out a couple of 0% CC to whatever balance offered?
Should I stay with the exsisting loan ?

I always pay the monthly balance but would love to lower the payment but not extend the term:T :j

I'm a bit nervous of CC on the whole but this site has turning me into a tight ar*e and I want to take control. Sorry for the long Q, hope you can help?

bethanyrayne

At that rate I would leave it where it is, given that you would have to refinance/get another or two O% BT offers after 12/15 months and then theres the transfer fees!

CLAPTON

a lot of ifs here

a. can you get sufficient credit limit(s)... well try and see

b. are you confident that you can repeat the trick in 12 months time (or whatever the 0% period is) and again in 24 month and 36 months can you afford the high APRs if you can't?

c. have you considered how you actual 'pay' the loan off using CC ?

d. have you considered what the monthly repayments will be .. some CCs ask for minimum payments of 3 or more %

wooders

thanks for the comments, i'll probably stay put for the time being