Sign in to follow this  
Followers 0
shower

F.A.Q Car Finance

33 posts in this topic

Cut a long story short my current car is f*cked and i am in need of a new car. I am interested in car finances and i have shopped around and i done some research in regards to this but i was wondering does anybody know or personally got a car on finance. Where does the best interest rate which is flat rate throughout the term and where you can pay big lump sums at a time. Car giant and them places are a big rip off as the interest is through the roof. I know there is a car topic but i think a new topic will get a better response

0

Share this post


Link to post
Share on other sites

cheaper to get a loan from bank a\nd buy car outright - car finance is a rip off in general. you can pay lump sums on bank loans some banks charge a small "admin" fee for this some dont.

0

Share this post


Link to post
Share on other sites

Yeah a personal is better but i have not even been working full time long enough to be able to get a personal loan. With the Finance if my credit score/ rating is not strong enough my mumsie said she vouch to be my garantor. the reason i am swaying with the finance factor, me and my mrs need a car, and our car is basically on it last leg's. Obvious i do not want to get brand new out of a box car but ideally would like a car from the dealership

0

Share this post


Link to post
Share on other sites

Does anybody on here have a car financed and how did they find the whole experience. I am just trying do some ground work and read around from people personal opinions and also there observations from financing a car

0

Share this post


Link to post
Share on other sites

How much are you looking to spend?

If it's below £5k then you are best of using a 0% interest credit card.

For my car I had £5k cash and put £2k on an m&s credit card with no interest for 15 months

0

Share this post


Link to post
Share on other sites

@MicMan: Looking to spend like 7+ max just under 10

0

Share this post


Link to post
Share on other sites

@MicMan: Looking to spend like 7+ max just under 10

How much cash have u got?

0

Share this post


Link to post
Share on other sites

If uve got good credit, u could easily get 2 credit cards with 12 months 0% interest.

If u can't pay off the bills within 12 months, apply for a credit card in a years time with 0% on balance transfers.

Sounds Like alot of effort but u save loads in Interest charges

0

Share this post


Link to post
Share on other sites

i like where you going with that

0

Share this post


Link to post
Share on other sites

Are you looking to buy new or used?

0

Share this post


Link to post
Share on other sites

i like where you going with that

Go on money saving expert and read up abt it. It's called tarting

1

Share this post


Link to post
Share on other sites

Just make sure your job is def secure for the period of your repayment.

0

Share this post


Link to post
Share on other sites

Just make sure your job is def secure for the period of your repayment.

Deffo that the main thing i have been in my job for like 3 years and thats my part time and i am currently working 2 jobs

0

Share this post


Link to post
Share on other sites

Are you looking to buy new or used?

Used

0

Share this post


Link to post
Share on other sites

If your looking to spend 7 grand on a car i'm guessing your going to do a 36 month term or longer. The only problem is that 2 and half years into your agreement your going to want to change cars, the problem comes when you want to exchange vehicle and realise you have negative equity.

0

Share this post


Link to post
Share on other sites

I have car finance and i'll be honest it's a big sham.

Now if you have a couple thousand you can perfectly buy a very good car for that price.

If you are 150% confident you will be able to keep up the payments then finance is a good option.

I went with Black Horse Finance as the interest was ridiculously low.

I dont have the best credit so its a relief to know they accept poor credit rating.

The only problem was the lenders put alot of restrictions on the car i.e the car size car make etc etc.

0

Share this post


Link to post
Share on other sites

do the finance option where u flip the car every 2/3 years

0

Share this post


Link to post
Share on other sites

Personal Lease?

thats even worse as your restricted to either 5,000 or 10,000 miles per annum, you also have to have the car serviced and when you return the car you are liable for any scratches or dents.

0

Share this post


Link to post
Share on other sites

do the finance option where u flip the car every 2/3 years

That is for brand new car's i believe

0

Share this post


Link to post
Share on other sites

I have car finance and i'll be honest it's a big sham.

Now if you have a couple thousand you can perfectly buy a very good car for that price.

If you are 150% confident you will be able to keep up the payments then finance is a good option.

I went with Black Horse Finance as the interest was ridiculously low.

I dont have the best credit so its a relief to know they accept poor credit rating.

The only problem was the lenders put alot of restrictions on the car i.e the car size car make etc etc.

Heard Blackhorse are the worst what was your rate if you dont mind me askin

0

Share this post


Link to post
Share on other sites

Getting a brand new car next year, will get on finance or loan. £18k car = me.

0

Share this post


Link to post
Share on other sites

I have car finance and i'll be honest it's a big sham.

Now if you have a couple thousand you can perfectly buy a very good car for that price.

If you are 150% confident you will be able to keep up the payments then finance is a good option.

I went with Black Horse Finance as the interest was ridiculously low.

I dont have the best credit so its a relief to know they accept poor credit rating.

The only problem was the lenders put alot of restrictions on the car i.e the car size car make etc etc.

Heard Blackhorse are the worst what was your rate if you dont mind me askin

Over a four year plan the interest would be £3900 on top of the car fee.

I have a one year plan with only £700 interest.

0

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0