AndyW
Member
Registered: 28th Oct 02
Location: Greater London
User status: Offline
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a good idea?
ive got a nice rise and was thinkin bout a newer car i was lookin and thinkin i can afford a nice newish golf etc. on finance...
but ppl that ive spoke to say no avoid it, but them ppl r drivin crap cars if u know what i mean.
loadsa ppl get new cars thru finance so is it any good?
cheers andy.
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m-dot
Member
Registered: 17th Aug 03
Location: Warrington
User status: Offline
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if you get it on 0% yes, otherwise avoid it possible
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diddon
Member
Registered: 23rd Apr 02
User status: Offline
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nothing wrong with finance, just get a low apr rate
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Greg_M
Member
Registered: 2nd Sep 03
Location: Grantham, Lincolnshire
User status: Offline
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compare apr's, try finance companys aswell as the manufacturers.
shop around and play companys against each other
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Fad
Member
Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
User status: Offline
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dont do dealer finance i regretted it big time best bet is to get a low APR loan then you own the car outright.
If you take out finance the car is technically property of the finance company and isuposedly your not meant to mod cars on HP.
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Fester
Member
Registered: 9th Oct 01
Location: Lancaster
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tbh it seems a 100% personal thing, some people don't have a problem with paying off, slowly but surely over a couple of years, and the majority of people don't have a problem; whereas those with the 'cack cars' probably aren't comfortable with owing money, so even though they could afford the payments, choose not to.
So overall the Fester is no help here 
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AndyW
Member
Registered: 28th Oct 02
Location: Greater London
User status: Offline
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quote:
Originally posted by Fester
tbh it seems a 100% personal thing, some people don't have a problem with paying off, slowly but surely over a couple of years, and the majority of people don't have a problem; whereas those with the 'cack cars' probably aren't comfortable with owing money, so even though they could afford the payments, choose not to.
So overall the Fester is no help here
its the thought that counts mate.
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dazz25
Member
Registered: 18th Dec 02
Location: Cheshire Drives: Corsa C SXi
User status: Offline
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I got a goldfish loan for 6.2%APR and it only works out at something like £500 extra!
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Phil Hall
Member
Registered: 28th Sep 01
Location: Belfast
User status: Offline
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As said before, a personal loan is the way to go. You will owni t and its more straight forward, no milage penalty clauses or final payments etc.
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Ben
Banned
Registered: 12th Jan 03
Location: West Yorkshire
User status: Offline
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personally ive been raised with the views , u only spend what u have . i know its harder but if i want sumart i save for it .
only exception is a house
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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quote:
Originally posted by dazz25
I got a goldfish loan for 6.2%APR and it only works out at something like £500 extra!
must be one expensive fish!!
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the_legend_of_yrag
Member
Registered: 7th Jul 03
Location: Cambridgeshire
User status: Offline
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quote:
Originally posted by M2RV H
quote:
Originally posted by dazz25
I got a goldfish loan for 6.2%APR and it only works out at something like £500 extra!
must be one expensive fish!!
lmao how much you take out? Must of been a bit for £500???
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starkmotorsport
Member
Registered: 27th Apr 02
Location: Scotland
User status: Offline
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quote:
Originally posted by fadscorsa
dont do dealer finance i regretted it big time best bet is to get a low APR loan then you own the car outright.
If you take out finance the car is technically property of the finance company and isuposedly your not meant to mod cars on HP.
Yup, get a loan as its better. The finance company can reclaim the car if you miss a payment, whereas then bank will just send big hairy guys to sort you out! Atleast you can drive away from them!
Oh and why do you need another Golf? Yours is a weapon!
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AndyW
Member
Registered: 28th Oct 02
Location: Greater London
User status: Offline
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my weapon is dead lol. refused to start this mornin and i think mot is up at end of the month fuck dat!
so i need another car desperately!!!
i can afford to get a car on finance. i no longer have a wad of cash to buy a car outright straight off...and as for saving i do not have time i need a car
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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You're probably going to need it on a house so you may as well get over principles right now.
Finance is a tax on having it now.
Do the right deal, keep your eyes open on how easy it is to settle.
It'll leave you without money in the future as of course even if you sell the car down the line you'll probably be breaking even on the deal and won't have much equity. If you need a deposit for a house this might be an issue but you could also borrow a smaller amount over less time and end up with a car that you own at the end of 2 or 3 years.
I tend to get them over 5 and change them when they're square. No sense investing in a depreciating commodity!
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AndyW
Member
Registered: 28th Oct 02
Location: Greater London
User status: Offline
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quote:
Originally posted by Ian
You're probably going to need it on a house so you may as well get over principles right now.
Finance is a tax on having it now.
Do the right deal, keep your eyes open on how easy it is to settle.
It'll leave you without money in the future as of course even if you sell the car down the line you'll probably be breaking even on the deal and won't have much equity. If you need a deposit for a house this might be an issue but you could also borrow a smaller amount over less time and end up with a car that you own at the end of 2 or 3 years.
I tend to get them over 5 and change them when they're square. No sense investing in a depreciating commodity!
i always consider myself to be quite clever with a good vocabulary, but yor words leave me baffled.
 i feel stupid now.
so in easy terms a loan with good apr is better than finance from a dealer cos i will ow the car outright!?!
if i was to do a loan id want to pay it out over say 2 years. or even less.
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Dave
Member
Registered: 26th Feb 01
Location: Lancs
User status: Offline
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Most loan companies are offering very low APR's at the moment so it's a much better option than dealer finance.
I took a loan out a bit back and offset it to my current account through IF, I wasn't really sure what it was all about at the time, I went for it because the APR was low but because I usually have a decent amount of cash in the bank I've paid the loan off 3months early now.
Well worth looking at, I think other companies have started off-setting now too.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Car finance is secured on the car is usually easier to get out of. For example, if you've paid more than half you can usually give the car back regardless of negative equity on the car at that time.
The only way to settle a bank loan is with proper cash.
There's no bad route, if you're comparing loans take a look at TAP - total amount payable - and decide how long you're keeping the car for and how much you want it to be worth when you do sell for an idea of what sort of term to look at.
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AndyW
Member
Registered: 28th Oct 02
Location: Greater London
User status: Offline
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quote:
Originally posted by Ian
Car finance is secured on the car is usually easier to get out of. For example, if you've paid more than half you can usually give the car back regardless of negative equity on the car at that time.
The only way to settle a bank loan is with proper cash.
There's no bad route, if you're comparing loans take a look at TAP - total amount payable - and decide how long you're keeping the car for and how much you want it to be worth when you do sell for an idea of what sort of term to look at.
i see, cheers 
ill av a look around see what i like etc, then see what my bank can offer etc, i may ge turned away cos of my age just things i need to research.
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ultrabluesxi
Member
Registered: 12th Nov 03
Location: sydney aust
User status: Offline
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first thing to do is a budget,wright done all your expenses everything,then you will know what you have left no good having a new car and cant afford to drive it anywere, also factor in insurance and services and registration each year
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