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I am in market to buy new car but I am a little short on money. I could finance the car but if buy on cash, I will qualify for additional savings up to $1000. Furthermore even if I finance the car directly, I will be in position to pay it off sooner in few months so why pay $1000 to finance it.

I know there are credit card offers which allows 0% APR balance transfer with no balance transfer fee. But since I don't have any current debt right now, I am not sure if I can take advantage of it? My question is can I use such offers and apply for card and buy new car with it? Mind you, car dealers need check not credit card so it has to be sort of cash advance (I don't know if it will be balance trasnfer?). Thanks.

The question was for US.

zadane
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It really depends on the exact wording of that zero rate offer.

Some specifically state they are to be used for paying other debt. Others will have wording such as "pay other debt or write yourself a check to pay for that next vacation, or new furniture."

Sorry, it's back on you to check this out in advance.

JoeTaxpayer
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You do not say what country you are in. This is an answer for readers in the UK.

Most normal balance transfer deals are only for paying off other credit cards. However there are "money transfer" deals that will pay the money direct to your bank account. The deals aren't as good as balance transfer deals but they are often a competitive option compared to other types of borrowing.

Another option depending on how much you need to borrow and your regular spending habits is to get a card with a "0% for purchases" deal and use that card for your regular shopping, then put the money you would have spent on your regular shopping towards the car.

Peter Green
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