I have a kinda finance related question, basically I am coming to the end of my car's PCP term and I am wanting to keep the car and refinance it in someway. The balloon payment is around £4600 and is due in March, my settlement figure now is around £5500. Originally I figured it would be worth just waiting and getting a new loan in March, but after looking into it, it looks like I would likely be paying more APR% then than borrowing the settlement amount now, plus I would probably bring my monthly payments down which the sooner the better. I have a couple of things I am unsure about though:
Whats stopping me from just borrowing way more than I need, just to get into a lower rate of APR and just paying the excess back immediately.
Also, I currently have a credit card with 0% on purchases for 30 months, with a £3000 limit, is there a way I could leverage this?
Whats stopping me from just borrowing way more than I need, just to get into a lower rate of APR and just paying the excess back immediately.
Also, I currently have a credit card with 0% on purchases for 30 months, with a £3000 limit, is there a way I could leverage this?