jacko198
Member
Registered: 1st Mar 07
Location: Buckinghamshire
User status: Offline
|
Just wondering, what is that website where you can look for finance on cars. So you can pick a car and choose the amount of months you want to pay over and it will give you a price.
Theres one thats been posted on here a while ago but i really cant thing where/what it is!
|
flybikeslee
Member
Registered: 2nd Jan 07
Location: Liverpool
User status: Offline
|
uh oh jacko, from lauras experience finance is shit if your not in a full time job
|
DannyB
Premium Member
Registered: 6th Feb 08
User status: Offline
|
No, car finance is bad news.
|
Ian_GTI
Member
Registered: 26th Mar 07
User status: Offline
|
If your gonna do it, take out out a bank loan and buy a car
|
flybikeslee
Member
Registered: 2nd Jan 07
Location: Liverpool
User status: Offline
|
dont you need to secure them on something though? im sure his mum and dad would love that
|
deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
|
Sounds like you might be talking about car leasing. Just search Google. I keep getting emails from this company at work: http://www.clvr.org.uk/
|
Ian_GTI
Member
Registered: 26th Mar 07
User status: Offline
|
his mum would pay the loan off for him anyway...
|
flybikeslee
Member
Registered: 2nd Jan 07
Location: Liverpool
User status: Offline
|
|
Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
|
Car finance isn't a bad thing if you are sensible, there's benefits to it over a bank loan.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
I can't see anything wrong with car finance either unless you are foolish enough to fall for one of the we'll give you this car for 11k but it'll really cost you 16 over 5 years deals.
|
l15ter
Member
Registered: 1st Feb 08
Location: Berkshire
User status: Offline
|
quote:
Originally posted by Pop
Car finance isn't a bad thing if you are sensible, there's benefits to it over a bank loan.
Like?
bank loan will have lower APR, the car will be owned by yourself, you can sell the car when you want without the whole finance deal hanging over the HPI check.
i remembered when i was looking at a vauxhall corsa at car craft, it was a year old and had done about 10k miles, by the time you had paid off in three years, it was cheapper to go to vauxhall at the time when they offering 3 years 0% APR, one years free insurance and was a better model.
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
Last bank loan I had the interest was front loaded, so paying it off early meant I had paid a higher % of the interest. No body bothers to tell you that when you sign up!!
Finance is fine so long as you dont get in over your eyeballs!!
I'll always finance part of my car purchases. It makes good sense in the real world!!
|
Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
|
quote:
Originally posted by l15ter
quote:
Originally posted by Pop
Car finance isn't a bad thing if you are sensible, there's benefits to it over a bank loan.
Like?
bank loan will have lower APR, the car will be owned by yourself, you can sell the car when you want without the whole finance deal hanging over the HPI check.
i remembered when i was looking at a vauxhall corsa at car craft, it was a year old and had done about 10k miles, by the time you had paid off in three years, it was cheapper to go to vauxhall at the time when they offering 3 years 0% APR, one years free insurance and was a better model.
The loan is secured against the car, unlike a bank loan which is aginst the person who has taken it out.
The rule of halves and thirds with car finance. Once you are a third of the way through they have to take you to court to get the car back. Get half way through and you can voluntary terminate (hand the car back) with no effect to your credit rating.
APR - depends on the deal. There are plenty of car finance deals that are offered that are bank beating. This happens more often with new cars granted, for example, various Mazdas at the moment can get a 3.9% APR loan, try getting a bank to better that.
Selling a car on finance should cause you little to no problem. Once you have agreed the deal with the person buying your car, ring up the finance company and get the potential owner to pay off the finance with their debit card instead of paying you. The finance company can then confirm over the phone that it is now finance free. You can later post them a copy of the settlement letter which will be sent out.
|
jacko198
Member
Registered: 1st Mar 07
Location: Buckinghamshire
User status: Offline
|
Ha cheers guys, the girlfriend was asking how much it would cost etc etc so i just wanted to show her really! All helpfull info though
|
Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
|
quote:
Originally posted by l15ter
i remembered when i was looking at a vauxhall corsa at car craft, it was a year old and had done about 10k miles, by the time you had paid off in three years, it was cheapper to go to vauxhall at the time when they offering 3 years 0% APR, one years free insurance and was a better model.
Carcraft is a terrible, terrible place to buy a car. That's nothing to do with finance, that's just that there are some horrible dealers with tricks like that who will fool young unsuspecting people in to paying too much for stuff.
Car loans are OK so long as you don't end up paying loads of money for an old car and they can be cheaper than bank loans. Depends who sells you them and whether they want your business.
The moral of the story is shop around and be mathematically aware of what is going on. Not rule any one single approach out.
|
like it!!
Member
Registered: 23rd Dec 08
Location: Cheshire
User status: Offline
|
quote:
Originally posted by Pop
Car finance isn't a bad thing if you are sensible, there's benefits to it over a bank loan.
i work with my mates dad on my days off reposessing cars for all sorts of finance companies and after doing this i would only ever buy a car or w.e out rite. perks of the job are i get 2 borrow most of the cars till they go back or go to auction 
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
Why would you only buy out right?
I work with computers and they break quite regularly, doesn't put me off having one though 
A good rule of thumb I find is a decent deposit and no more than 3 years. That way, in most cases, the car is always worth more than the finance you owe.
|
Griffiths1991
Member
Registered: 28th Jul 08
Location: Cheshire
User status: Offline
|
quote:
Originally posted by like it!!
quote:
Originally posted by Pop
Car finance isn't a bad thing if you are sensible, there's benefits to it over a bank loan.
i work with my mates dad on my days off reposessing cars for all sorts of finance companies and after doing this i would only ever buy a car or w.e out rite. perks of the job are i get 2 borrow most of the cars till they go back or go to auction
He's not lieing always a nice motor waiting to go to auction to borrow
|
