0% credit card to pay off car on finance

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Author	0% credit card to pay off car on finance
lamont Joined: Mar 27, 2005 Posts: > 500 From: Manchester, UK PM	Posted: 2008-05-23 19:39 Hi, i bought a car on finance and wondered whether it is possible to end the finance deal early to avoid paying all the interest by paying it off using a 0% card? Thanks

masseur Joined: Jan 03, 2003 Posts: > 500 From: Sydney, London PM	Posted: 2008-05-23 19:50 afaik, in uk, you can only transfer balances from one card to another, not from other types of credit account Unless I'm very much mistaken... A-ZoTT
lamont Joined: Mar 27, 2005 Posts: > 500 From: Manchester, UK PM	Posted: 2008-05-23 20:05 thats what i thought, just wanted to double check. think il just have to get a loan at a low rate to save abit on the rediculous interest amount i would have to pay if i carried on with the car finance. Thanks
masseur Joined: Jan 03, 2003 Posts: > 500 From: Sydney, London PM	Posted: 2008-05-23 20:16 ...or... get another credit card with a limit that covers the car debt, draw cash for that then transfer that card to the one you have 0% on Unless I'm very much mistaken... A-ZoTT
lamont Joined: Mar 27, 2005 Posts: > 500 From: Manchester, UK PM	Posted: 2008-05-23 20:20 i cant pay the car debt in cash though? im not sure whether i can pay it over the counter to them. [ This Message was edited by: lamont on 2008-05-23 19:22 ]
lamont Joined: Mar 27, 2005 Posts: > 500 From: Manchester, UK PM	Posted: 2008-05-23 20:50 sorry was being stupid and not reading in between the lines. That should work! What stops people with very good credit ratings doing this with large amounts of money and putting the money in high interest saver accounts? Or do people do this? Thanks masseur
masseur Joined: Jan 03, 2003 Posts: > 500 From: Sydney, London PM	Posted: 2008-05-23 20:53 I'm not sure if this is common practice... I was just thinking out loud really Unless I'm very much mistaken... A-ZoTT
lamont Joined: Mar 27, 2005 Posts: > 500 From: Manchester, UK PM	Posted: 2008-05-23 21:01 will have to get a statement from the fiancne company and find out how much i would have to pay to finish early. thanks
themarques Joined: Jan 26, 2003 Posts: > 500 From: London, Tokyo, PM	Posted: 2008-05-23 22:46 A friend actually bought a house on his AMEX (CENTURION) and because amex gives you back a percentage cant remember what, he was sitting pretty. Note he did have the money to pay the card all off at the end of the month so don't get caught up if you cant afford

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