how much people have purchase cars on credit cards with 0% offers

[jdgay22]

how many years did u keep the 0% for , what cards did u use for the transfer balance

[getforfree]

I don't think I would benefit from 0% card. I use one that has like 20 something % interest, but I never pay it, because I pay it off every month and the card gives me money back rewards.

[jdgay22]

im talkin about buyin a car on a credit card, what are u talkin about

[getforfree]

I thought you talking about everyday purchases.

I never had to borrow money for a car. Even when I was in school and had very tiny income from min wage part time job, I bought my first car with all my savings at 18. I worked hard for almost 2 years and saved $4,800. It was not the best car, but it was better than having to borrow money.

Now we have chrysler sebring 2003 (the one on my avatar), pontiak sunfire 2005, honda odissey 2001 and chevy astro 2000. We bought all of them with cash, and right now we need to sell two of them, because we are upgrading to the newer cars.

[PrincessPerky]

Our car was 0% interest, I didn't use a CC cause their was a bank offer for it.

It means the money I could have used on a car right then was mine to sue for what I wanted.

If you decide to do it, be VERY careful that you have the money to pay off the car if for any reason you need to, and read read read the fine print.

there often is a 'fee' for the 'cash advance' might be a bit hefty to pay. And if something happens to the mail, or your internet goes down and you miss a payment you are stuck often with back interest at a huge rate.

[getforfree]

If your internet goes down, you can always use a free one at the library.

[Ima saver]

I have never done it, but right after I bought a new car in 1997, the GMC company then turned and offered 0% financing, but I had missed out!!

[JoyJoy]

Originally Posted by jdgay22

im talkin about buyin a car on a credit card, what are u talkin about

Jdgay22 you may want to post your question at http://creditcardperks.webgroups.biz/php.BB2 as some of the people there have financed their homes/condos at 0%/2.99%/3.99% interest on their credit cards. (If you can't access the forum because the link isn't working, click on open "creditcardperks.webgroups.biz" under please try the following....)

[HalMd]

When my last auto loan was within six months of being paid, I transferred the balance to a 0% card. It worked like a charm.

However, I'm going to try to pay cash for my next car, and avoid interest altogether.

[MonkeyMama]

I would have if I had really known. We had never bought a car on loan before and this year we decided to buy a *new* car. New used car anyway. We have always paid cash for cars, but we were looking to upgrade to something a lot newer and figured we could finance just a few thousand since I hear interest rates are so low. So we go and I almost fell over when they said our credit was so perfect we could get a 9% interest loan - choke choke. I didn't do my research ahead of time and didn't realize the low interest rates only applied to only brand new cars, etc. Even the credit union loans were insane.

So I paid off the car and took a personal loan from my mom at 3%. She was happy to get the interest and I was happy to lose 6% interest.

I since then started watching Suze Orman's show and thinking she was crazy telling people to put everything on their cards. I started peaking at all the credit card offers that come through the mail. I have had offers of up to $100k for 2 years at 0%, etc. I have since decided if I had knows that is how I would have purchased my car. I intend to pay it off in a year and there are plenty of cards that offer a longer time period of 0%.

All that being said, we tried to put the cash portion of our purchase on credit card since we get 1% back, and the dealer refused to let us pay by credit card. I can't say that if we said nevermind and walked out the door that they wouldn't change their mind. But if you can get a cash advance from a credit card and pay by check may be easier with the dealer. & beware, read the fine print, and pay it all back before the interest starts to rise. Credit cards can really change their terms any time, but if you pay attention and are prepared, you can quickly switch the balance to a new card if need be, etc. I would be extremely careful, I don't trust the credit cards at all, they are sneaky, but overall it is a great deal if you read all the fine print and pay attention.

I can't say which cards are best, I just get tons through my mail everyday...

Good Luck!