Hi
i currently have a personal loan to pay off my car. we are now thinking of upgrading our car to a new model in january. it will cost us 5500 to swap old car for new car. we could extend our current loan to 17k over 4 years or we could put the 5500 on our credit card and try to pay it off over 4 months or so. is this method completely mad or does it make sense?
it will mean we we own our new car in 2 more years as opposed to 4 years but it will also mean sqeaky bum time for the 4 months we are trying to clear the credit card.
any advice would be great on this guys!!
thanks
i currently have a personal loan to pay off my car. we are now thinking of upgrading our car to a new model in january. it will cost us 5500 to swap old car for new car. we could extend our current loan to 17k over 4 years or we could put the 5500 on our credit card and try to pay it off over 4 months or so. is this method completely mad or does it make sense?
it will mean we we own our new car in 2 more years as opposed to 4 years but it will also mean sqeaky bum time for the 4 months we are trying to clear the credit card.
any advice would be great on this guys!!
thanks