A2H GO
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Registered: 14th Sep 04
Location: Stoke
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quote:
Originally posted by Alex_NSM
quote:
Originally posted by whitter45
in the grand scheme of things that nothing when you could be tied to finance for 5 years
not really tied in though, i get cars on finance, then after 2 years, just hand them back, clear the finance and start again on new car. Means i never have to pay to put a car through MOT, dont need to worry about depreciation/selling it etc. Best way imo
Thats what ive done with the past 3 cars ive owned. You just need to make sure you save up a bit of a deposit for the next one inbetween as you usually only just get enough back to clear the finance.
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Lynny
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Registered: 3rd Jan 03
Location: oop north! Where people talk properly
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You not just hand the car back to finance company and finance is cleared?
As for deposit, just haggle so you dont have to pay one
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Colin
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Registered: 4th Apr 02
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Its better to put a deposit down, the more you put down the less chance of you being in neq equ with it (the car depreciating faster than you pay it off).
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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Does anyone work for Vaux who can advise me if im likely to be able to get my deposit back?
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Conway563
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Registered: 7th Jun 06
Location: Yate, Bristol
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Don't mean to be the bearer of bad news but if they give it back to you they'd be idiots
The whole point of a deposit is that it's a non-refundable intention to buy
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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Thats fair play, i take full responsibility for my bad decision. I did read that as it was over the phone the rules of distant selling state that im entiled to a refund of any goods purchased including deposits within the 7 day cooling off period.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by CorsAsh-Sport
Does anyone work for Vaux who can advise me if im likely to be able to get my deposit back?
Why do you want it back? You seemed right up for it before this lot chirped up.
Just get it....enjoy!!
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Conway563
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Registered: 7th Jun 06
Location: Yate, Bristol
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quote:
Originally posted by CorsAsh-Sport
Thats fair play, i take full responsibility for my bad decision. I did read that as it was over the phone the rules of distant selling state that im entiled to a refund of any goods purchased including deposits within the 7 day cooling off period.
I could be wrong then.
I've got a car on 5 years finance and after a year I'm contemplating getting shot because my circumstances require it. I've done alright as the settlement figure I got the other day would leave me with approximately £2k left to buy something else.
If it's a car you really want then just go for it
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by Colin
quote:
Originally posted by CorsAsh-Sport
Does anyone work for Vaux who can advise me if im likely to be able to get my deposit back?
Why do you want it back? You seemed right up for it before this lot chirped up.
Just get it....enjoy!!
I would agree
End of the day it isnt a great deal but allows you to have the car you want and at a price you were willing to pay
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
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quote:
Originally posted by CorsAsh-Sport
Does anyone work for Vaux who can advise me if im likely to be able to get my deposit back?
I think you have a 7 day cooling off period with any financial contract. Unless you sign to waive that.
Corsa 2.0 16v Vegas - Sold
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Colin
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Registered: 4th Apr 02
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how much were you putting down cash?
the main problem I would have with 5yrs finance is whether your going to have paid enough of it off when you come to sell it.
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MarkM
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Registered: 11th Apr 01
Location: Liverpool
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Do these finance deals allow for periodic lump sum payments to be made off the balance?
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John
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Registered: 30th Jun 03
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Normally only allow you to settle early and very rarely give any benefit for doing so, they usually just want the full amount.
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Colin
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Registered: 4th Apr 02
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Yeah you can make overpayments as often as you wish iirc it wont make a difference to the amount you pay per month, just the length you pay. Or maybe its the other way around 
Can with mine anyway.....
[Edited on 27-08-2009 by Colin]
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whitter45
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Registered: 15th Nov 02
Location: Norton
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when I had a loan on my car I pid it off but only paid ineterst to that date
I.e I paid it off a year early so didnt pay inetrest for that year
That was a bank loan though
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MarkM
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Registered: 11th Apr 01
Location: Liverpool
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quote:
Originally posted by John
Normally only allow you to settle early and very rarely give any benefit for doing so, they usually just want the full amount.
The benefit being not having to pay interest for the full term.
Interesting.
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Colin
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Registered: 4th Apr 02
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Ive paid off every loan/finance early and didnt pay the interest isnt that how it works?
I usually get over 4yrs & aim to pay it off in 2yrs. Thats about how long I keep a car for 
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John
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Registered: 30th Jun 03
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quote:
Originally posted by MarkM
quote:
Originally posted by John
Normally only allow you to settle early and very rarely give any benefit for doing so, they usually just want the full amount.
The benefit being not having to pay interest for the full term.
Interesting.
The last finance I had the settlement fee was the whole of what I would have paid over the term.
Not saying they're all like that though.
My rule of thumb for finance is half decent deposit and 3 years.
That means that the car is always worth more than the finance owed no matter when I sell it.
[Edited on 27-08-2009 by John]
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MarkM
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Registered: 11th Apr 01
Location: Liverpool
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quote:
Originally posted by Colin
Ive paid off every loan/finance early and didnt pay the interest isnt that how it works?
I usually get over 4yrs & aim to pay it off in 2yrs. Thats about how long I keep a car for
This may be my plan.
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Colin
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Registered: 4th Apr 02
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I put down about 60% deposit on mine & took the rest over 4yrs, pay back around £200 a month. Plan to keep it 2yrs (another 18 months) settle the finance and should get my 10k back to put down on the next one.
Based upon 2yr older M3's fetching 14-15k just now......
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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They have agreed to refund £400 of the £500 deposit. Im ok with that.
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by CorsAsh-Sport
They have agreed to refund £400 of the £500 deposit. Im ok with that.
lucky guy
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by whitter45
quote:
Originally posted by CorsAsh-Sport
They have agreed to refund £400 of the £500 deposit. Im ok with that.
lucky guy
I know, hopefully i will save more than that in interest on a better deal elsewhere.
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Kurt
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Registered: 23rd Oct 05
Location: Hi
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I pay £250 month on my punto over 36 months.. i also had £3500 staff discount 
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Colin
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Registered: 4th Apr 02
User status: Offline
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What exactly was the deal?
How much were you putting down?
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