i wanna buy a car advise please

scoobylou_3

Am looking at trading in my car worth about £4500-5000 against a newer one about £11000. I have some cash I could also put down as deposit [max 3500] Just wondering if anyone has any advise on how best to come up with the other 3000. A loan is the obvious one but can anyone suggest any alternatives. Can you put 3000 on a 0% credit card for a car. For some reason I think you cant but cant remember why not.

before_hollywood

hmm.
not sure about the whole credit card idea- not sure if a cash advance would qualify for the whole 0% thing.
More obvious options include bank loan, dealer finance and bank robbery, i would only advise the first 2.
what the dealer finance is like is down to the individual dealer, and how much they need to sell to reach their sales targets- its all down to the type of car that is being sold.
there is such a thing as 0% finance but its rare and you have to go in on their terms, otherwise work out how much (exactly) you want to borrow and how long for- a quick example £3000 over 3 years (36 months) is roughly about £100 a month (i mean very roughly).
Get a quote from your bank and a couple of others, then take it to the dealer and see what you can get, they get a bit of commision from the finance company and if it is a franchise dealer (if you are buying a car for £11k i am thinking it would be) then there is almost certainly some room for manouvere.

YorkshireBoy

scoobylou wrote:

Can you put 3000 on a 0% credit card for a car. For some reason I think you cant but cant remember why not.

Yes you can. Have a look on the credit card board for posts about SBT's (Super Balance Transfers) which are like a standard balance transfer between credit cards except that there are a couple of providers who allow you to transfer a (ficticious) debt/overdraft from your current account. It's like a "cash transaction" but without the interest/fees normally applied.

Don't forget that the debt will have to be repaid IN FULL after 6/9/12 months depending on the card you get, unless you apply for another BT card to transfer the remaining balance to.

Martin has written a couple of articles, which are accessed through the yellow "credit card" box to the left of this screen...

1. "Revenge - make money from credit cards"
2. "What is a Super Balance Transfer?"

Within the credit card board, there is a sub-board entitled "stoozing". Have a look at the posts in there to gain some further information.

Pink.

Hi scoobylou,

You should get more replies to your thread on the motoring board, so I hope that you don't mind if I move it over there.

Pink