Best way to finance a car quickly when time is short?

[ItsTony]

Theoretical situation but if you're trawling the classifieds and come across a car at a great price but the buyer is not willing to wait for you to apply for finance etc, what is generally the easiest way to quickly finance a car - even if it is temporary solution until you sort out something more stable?

Is it a stupid idea to ask to have money taken off a credit card?

Thanks

[kiethton]

not necessarily - overdraft extension?

[ItsTony]

Forgot to add the amount would be about £5k. thanks

[TheLordJohn]

ItsTony said:

Forgot to add the amount would be about £5k. thanks

0% credit card would be my choice. You can get 18 months very easily!

PS - I wouldn't go too much out your way if the seller (and you're a genuine buyer) doesn't give you a bit of time to get your funds together.

Edited by TheLordJohn on Thursday 2nd January 22:52

[Chicane-UK]

TheLordJohn said:

0% credit card would be my choice. You can get 18 months very easily!

Not much good if it's a private seller though sadly I think generally withdrawing cash on credit cards means you're subject to fees / charges immediately, and that 0% only applies to purchases.

[Seeker UK]

Quickest would be a 5k personal loan from the bank you have a current account with.

[TheLordJohn]

Chicane-UK said:

Not much good if it's a private seller though sadly I think generally withdrawing cash on credit cards means you're subject to fees / charges immediately, and that 0% only applies to purchases.

tt. Didn't read that one properly...! Lol.

[gizlaroc]

If you haven't got £5000 sitting in your coin jar should you be buying a car anyway??


Sorry, obviously been on Pistonheads too long for my own good and become just another judgemental opinionated !! Apologies.


As Seeker said, as the bank mate, or do a search on money supermarket for loan deals. Most will transfer the funds same day on application.

[chrisw666]

Bank loan, most do fast turnaround, if you have enough to leave a deposit with the seller then the rest should be with you within 48 hours.

[Shaoxter]

Just don't go to Wonga...

[gizlaroc]

Shaoxter said:

Just don't go to Wonga...

No, much quicker to call them.

[Snowboy]

My bank sorted out a loan in about 30 minutes.

[TheLordJohn]

Snowboy said:

My bank sorted out a loan in about 30 minutes.

As many have said, your bank. Barclays saved my arse when I downgraded my car and the finance needed paid off.
I was part ex'ing one car valued at £10750 for a car valued at £5500. So I got the difference in cash, a small loan over the phone in 15 minutes and I went to collect the cash immediately at the branch.
It'll take a lot for me to leave Barclays after they sorted me out with that one.

[divetheworld]

Pawnbroker.
Same day money upto £1m with some of them. They are about 6% interest as I recall. Get what you need from them until your preferred finance can be arranged.

[Northernchimp]

I wouldn't trust a seller that wasn't willing to wait a week. I usually pay a generous deposit (I think 5% is fair) and go back with the rest at my convenience.

Anybody pressing for immediate payment in full is either crooked, has something to hide, or a .

[JimmyConwayNW]

a week or so is reasonable to wait for a sale privately I would say.

The problem is if car is advertised at 6k and you go and agree 5k then leave deposit of say £200, if someone else rings to view the seller is at no less to let others come out and try to get someone to pay upwards of 5k.
For my own peace of mind I would be trying to do things quickly in the private sale world at 5k.

It would be different in a more specialist field or higher budget I would say.