Quote:
Originally Posted by sfax
Depending on your credit rating you may be able to part or even fully finance it with one or more 22 month 0% balance transfers. You'll pay 3% for a cash advance fee and then a another 3% handling fee (you have to get the cash on one card and then transfer to another although some cards let you transfer direct to a bank account for a fee). If you can set it up, it beats any loan's APR (the 22 month example above is less than 5% APR and the best APR on moneysupermarket is 5.9%). If you can get another balance transfer deal when the first one expires (so pay back over 44 months) it becomes cheaper still - equivalent of 4% APR. I part financed mine (~£20,000) using this method
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Forgot to add that if you get a balance transfer credit card where you can transfer to a bank account (there are some cards that let you do this), you only pay 3% once every 22 months so for £20,000 you'd pay £900 in interest, which is 2.4% APR over 44 months