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Discussion Starter · #1 ·
my audi dealership gave me a flat rate of 4.75% to finance the balance of my car purchase.
has anyone been given a better rate than this for theirs ??
 

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I enquired about finance at my dealers they quoted me a flat rate of 6% and when I asked if that was 6% APR the finance guy tried to blag me and had all the figures printed out which made it look cheap but in the end got him to tell me the APR which was 12 point something percent. So watch out.
I am taking out a virgin money card to cover the remaining balance on mine at 0% for 16 months with a 4% fee to transfer your credit limit into cash and paid to your bank account, called money transfer. Cheapest way to finance it in my opinion but depends how much people need to borrow in order to buy the car. Check out moneysavingexpert.com and you can look up the cheapest ways to borrow money.
 

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mrfaize said:
If you can get enough credit limit
Yeah that is the only down side, dependant on what you earn and your credit history. I know people who have 15 grand limits which is enough to get you a nice A1. You just have to be a credit card tart if you can't afford to clear the balance within the 16 months and keep switching to 0% deals. There is also a card from MBNA which offers a fixed rate of 5.9%APR with a low 1.5% fee of the intial amount and the 5.9% remains for the life of the balance for those looking to finance longer term without the fuss of switching.
if they only give you part of the money you need, it will be a cheap loan on part of the money.
Also if you have a partner you could both apply separately and have two cards both on the 0% deal and then you will receive a credit limit each which may cover the full amount you need.
Checkout this link which tells you all about cheap loans by plastic
http://www.moneysavingexpert.com/loans/plastic-loans
 

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...and my dealer would only accept £2500 on credit card, anything over that incurred 2.5% fee charged by the dealer. So check with your's before doing anything!
 

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mrfaize said:
...and my dealer would only accept £2500 on credit card, anything over that incurred 2.5% fee charged by the dealer. So check with your's before doing anything!
Yeah mine charges the same but the cards I have mentioned have a special promotion running which allows you to take out the card and transfer the money from your cards credit limit as cash into your bank account, for this there is a one off 4% charge and then you have the cash transferred into your account and that amount will be the balance on your card, the balance will then remain at 0% APR for 16 months at which time you should of either cleared the balance or have transferred onto a new 0% balance transfer offer. You must make at least the minimum payments each month on time otherwise you will lose the special promotional rate.
 

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