Author Topic: Finance options for buying a car  (Read 874 times)

brownr72

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  • Posts: 4
Finance options for buying a car
« on: Jun 30, 2010, 08:21:51 PM »
  • Currently have a car worth around £7000 but need to getsomething bigger and newer and need another £8000 to put towards it if we tradecar in, what options to cover the extra we need do i have?

    loan - dont really want to as cleared all my loans off years ago and it feelsgreat not owing

    credit cards? - is there a way of doing it with CC's, and using the 0% balancetransfer fiddle a couple of times?

    any other options ive forgot?

    many thanks in advance

  • madison85

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    Re: Finance options for buying a car
    « Reply #1 on: Jul 01, 2010, 08:55:35 AM »
    Credit Card is probably a last option.
    is there a car fiancne option the dealership can offer with a part exchange on your current car.

    Steven Jackson

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    • Posts: 281
    Re: Finance options for buying a car
    « Reply #2 on: Jul 01, 2010, 06:41:22 PM »
    Hi Brownr72
     
    It may well be possible to use a credit card to fund the £8000 gap and then flip this to a new 0% balance transfer deal. However, this is a slightly risky option as you leave yourself open to paying a significant amount of interest if you find that you can not get a the transfer deal.
     
    I think that you may find car finance at a dealer could well be more expensive than simply getting a personal loan.
     
    Other than that, it is back to the standard personal loan i'm afraid.
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