Accelerate Car Loan Payments with a Credit Card – Save Both Time and Money

by | Feb 8, 2024 | Fidelity IRA | 1 comment

Accelerate Car Loan Payments with a Credit Card – Save Both Time and Money




This video is a must-watch for anyone looking to save money on car loans. I’ll guide you through transferring your car loan to a 0% APR credit card for new purchases. This strategy can help you save on interest and pay off your car faster. We’ll cover the steps to make this transfer, the benefits of switching to a 0% APR card, and tips for managing your credit card payments effectively. Whether you’re struggling with high car loan interest rates or just looking for a smart financial move, this video is for you. Your situation and the example in the video may have varying outcomes depending on the variables such as: length of loan, interest rate, how quickly you can move to 0%, whether you can pay the 0% before the rate increases etc.

00:00 Pay Your Car Loan Faster with a Credit Card
00:54 Example Loan Terms
01:40 Pay Early and Save Interest, But it Gets Better
02:57 How to Move Your Car Loan to a 0% Credit Card
09:00 Total Savings

0% Interest Credit Cards (on Purchases) :
0% Balance Transfer Credit Cards :
How to Use Balance Transfer to Pay Off Debt Step by Step :
Velocity Banking with a Credit Card Explained :

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Paying off a car loan can be a major financial burden, but there are ways to make the process easier and faster. One method that is gaining popularity is using a credit card to pay off the remaining balance on a car loan. By doing so, car owners can save time and money, as well as take advantage of potential rewards and benefits.

There are a few ways to pay off a car loan with a credit card. Some lenders allow borrowers to make payments via a credit card, while others may not. In this case, car owners can consider using a balance transfer credit card to transfer the car loan balance and then pay it off with the new credit card. It’s important to note that, if using a balance transfer card, there may be a fee for the transfer, so it’s essential to weigh the potential savings against the cost.

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One of the major benefits of using a credit card to pay off a car loan is the potential for saving money on interest. Many credit cards offer a 0% introductory APR for a certain period, which can save car owners a significant amount of money in interest payments. By transferring the car loan balance to a 0% APR credit card, borrowers can pay off the loan faster without accruing additional interest.

In addition to saving on interest, using a credit card to pay off a car loan can also provide the opportunity to earn rewards. Many credit cards offer cash back, points, or miles for every purchase made, including loan payments. By using a rewards credit card to pay off a car loan, borrowers can earn valuable rewards that can be used for future purchases or travel.

It’s important to note that using a credit card to pay off a car loan requires responsible financial management. Car owners must ensure that they can pay off the credit card balance before the introductory APR period ends to avoid accruing high interest charges. Additionally, it’s essential to be aware of any potential fees associated with using a credit card to pay off a car loan, such as balance transfer fees or processing fees.

Before deciding to pay off a car loan with a credit card, borrowers should carefully review the terms and conditions of their credit card and speak with their lender to determine the best course of action. By using a credit card to pay off a car loan, car owners can save time and money, take advantage of potential rewards, and pay off their loan faster. With careful planning and responsible financial management, paying off a car loan with a credit card can be a smart and effective way to achieve financial freedom.

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1 Comment

  1. @buckstophurr

    This is one of those videos that you must watch a few times before it clicks. Very good information. A+

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