Finance Options (I.e Credit Cards Vs Loans)

Posted 30th JanEdited by:"jackfreemanwkd"
Hi... I'm just looking for some advice in regards to the best finance options available..

In a nutshell I'm looking for a fairly small loan for a car (£2-5k)... Which I'd ideally like to pay back within 3 year... although I wouldn't be to put out if I had to do it in 2 year.

I just want some feedback in regards to whether I should go for a conventional bank loan or get a good credit card (Although I'm a bit of a dunce shopping around for CC's as I've never had one.. All this balance transfer talk etc confuses me)

My credit score is pretty high.. no debt.. good job etc etc... So I think I'd pass a check for 99% of products!

Any advice would be appreciated.. Thanks in advance!
Community Updates


I did a zopa loan a few years back and on a Hitachi loan now. I chose these because I think there are only a few that dont charge fees for early repayment. Credit cards would be good but you are relying on 0% balance transfer deals being available when you need them. I would check out zopa or Hitachi and see if the fee is worth it to you.
I’ve used Zopa for this purpose for the same reasons stated by @colinged
Have a look on MSE there are lots of articles on there and one just this week about 0% loans.
Edited by: "eslick" 30th Jan
A 0% card would be good option (MBNA & Sainsbury's are good options at the mo). Say car is £2500 so just divide the 2500 by 26 (the 0% period) = £96.15. That's what you pay back a month or more if you can afford it and want to pay it quicker. Simple.
0% credit card all the way - perfect application for credit cards but make sure to be disciplined to set up the required payment to pay off before end of 0% term.
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