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Author Topic: Best Finance Options  (Read 4664 times)

Offline mightydquinn

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Re: Best Finance Options
« Reply #15 on: May 27, 2011, 08:00:50 pm »
Quote from: DraigFlag on May 27, 2011, 06:16:12 pm


 5000 miles a year is a joke.
Yes I  never does that many    :whistle:
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    Offline nicebiscuit

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    Re: Best Finance Options
    « Reply #16 on: May 27, 2011, 09:09:39 pm »
    Quote from: 5L1M on May 27, 2011, 06:05:17 pm
    Can't find any good bank loans, they are all huge apr, I've got a really good credit score but can't find anything under 6.6%, if you can find somthing out there let me know please, just spoke to platts in stafforshire and they can do me £230 p/m with a £2000 depose and about a 6.7% apr, not that great to be fair, the 3.5% deal ended in march.

    Yeah - but 6.6% on a bank loan will cost you a lot less than on PCP 'cause you're paying the whole balance off.   When I worked it out a PCP had to be roughly half the APR of the loan to be equivalent.  Plus, you can reduce the cost by going pre-registered or S/H.   If it's got less than 10k miles on it, who cares?
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    Offline 5L1M

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    Re: Best Finance Options
    « Reply #17 on: May 28, 2011, 04:31:38 pm »
    Well it seems you may be right... Right

    I can get a £10,000 loan through Santander with a 6.9% APR over 5 years making the repayments £195 p/m

    Then every Year in April Pay £3000 towards the loan with my bonus and its then paid in 2 years and the car is mine.

    ARP charge should be around the £800-1000 if the loan is paid in 2 years ( I think )

    I can then sell my current car with all its mods for around £3000

    Giving me £13,000 to spend on a pre-registered / second hand abarth.

    UBER TEMPTED TO MAKE THE CALL.
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    Offline cliff

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    Re: Best Finance Options
    « Reply #18 on: May 28, 2011, 05:00:16 pm »
    Quote from: 5L1M on May 28, 2011, 04:31:38 pm
    Well it seems you may be right... Right

    I can get a £10,000 loan through Santander with a 6.9% APR over 5 years making the repayments £195 p/m

    Then every Year in April Pay £3000 towards the loan with my bonus and its then paid in 2 years and the car is mine.

    ARP charge should be around the £800-1000 if the loan is paid in 2 years ( I think )

    I can then sell my current car with all its mods for around £3000

    Giving me £13,000 to spend on a pre-registered / second hand abarth.

    UBER TEMPTED TO MAKE THE CALL.



    Make sure there is no charge with this loan for early re payment , some do charge for this and then you can end up no better off. I think it's called an early settlement clause.

    I liked the cash deal 12k a year I'd have had to say loads back on the extra miles covered.  :thumb:
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    Offline jason.s

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    Re: Best Finance Options
    « Reply #19 on: May 28, 2011, 05:15:29 pm »
    Also, i think you will find the 14K is the base price before any extras.
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    Offline sandys

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    Re: Best Finance Options
    « Reply #20 on: May 28, 2011, 08:18:41 pm »
    If you intend to buy the car and not hand it back the mileage clause won't matter, you need to find the deal that suits you really, may as well take some form of finance though, not a lot of point sinking much cash you have into it, its going to loose 100s a month which ever way you pay for it, if you have the cash lying around there's a good chance you can offset the interest and inflation via investing, you'd be better off in the long run. If you are really lucky you might beat the depreciation.
    « Last Edit: May 28, 2011, 08:20:49 pm by sandys »
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    Offline richardmajor86

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    Re: Best Finance Options
    « Reply #21 on: June 02, 2011, 01:46:30 pm »
    I got a loan from Tesco (chepaest at the time) and paid cash for the car. Meant it was my car. Sell it when i like. Drive as many miles as i like, etc etc.

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