A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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On that amount of money and typical finance rates you'd pay much more than £1000 in interest.
If the law did get involved dealers would just sell at the higher price for both cash and finance options meaning the customer loses out either way. I wouldn't say its the dealers fault, more the fianance companies.
Hypothetically speaking, say they take in a trade in for £10,500 and put it on the forecourt for £11,000.
They get £1000 from the finance company if they sell on finance meaning they can drop it to £10,000 and still make £500. Customer thinks they've got a bargain getting £1000 off the asking price and they probably did, getting it for less than book price/others on the market.
The dealer has to sell it for £11,000 as a cash purchase to make the same amount of profit = buyer walks away not happy at not getting any money knocked off or just pays the asking price.
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Liam-Wilko
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Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
User status: Offline
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TBH finance works out to be 6 and 2 3s in the long run when u work it out finance dose reduce the inital price of the car but genuanly pay more on intrest with the likes of black hourse ext i tryed to get a fiesta for my missus not to long back cash price was 7k but when finance kiked in it worked out to be somthing stupid like 13.5k over the period i piced but i managed to offer cash to vardys when i was going to apply for a loan for a brand new astra and they offerd to know the car from 22k down to 16.5k and throw in some extras if i got my loan for the car and payed cash but sadly my bank told me to piss off haha 
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oceansoul
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Registered: 19th Jun 06
Location: Sunbury, Surrey
User status: Offline
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quote:
Originally posted by liam-corsa-1400
TBH finance works out to be 6 and 2 3s in the long run when u work it out finance dose reduce the inital price of the car but genuanly pay more on intrest with the likes of black hourse ext i tryed to get a fiesta for my missus not to long back cash price was 7k but when finance kiked in it worked out to be somthing stupid like 13.5k over the period i piced but i managed to offer cash to vardys when i was going to apply for a loan for a brand new astra and they offerd to know the car from 22k down to 16.5k and throw in some extras if i got my loan for the car and payed cash but sadly my bank told me to piss off haha
 huh?
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