Getting a car on finance??

[OLLYVTS]

Im thinking of getting a car on finance but im not sure if its worth it.How many of you have got a car on finance?And where is a good place to get a car from on finance?

Any help will be appreciated.:y:

Olly.

[Peejous]

You need to check if it's better to get a loan tbh. Finance is always problematic. When it comes to selling etc. and other things. If you can get a loan it's a lot better plus intrests rates are lower on loans than finance.

[kristel10589]

I'm also considering it at the moment, How easy is it to get car finance at the moment? :err: Haven't ever had a loan or anything like that before so don't know what my chances are :err:

Are loans easier to get than car finance? or is it the other way round?

[OLLYVTS]

You need to check if it's better to get a loan tbh. Finance is always problematic. When it comes to selling etc. and other things. If you can get a loan it's a lot better plus intrests rates are lower on loans than finance.

I will have to look into a loan then and see what will work out better.Thanks for the advise.

[Quick]

Try
http://www.moneysupermarket.com/loans/
At least with a loan you own the car outright from the start, and having the money in your hand gives you a stronger bargining point!

[Danhunt]

If you're looking for a loan, go to your bank first. At least they can tell you whether you can afford it, and will usually give a lower rate.

[Raz]

i got a loan and wish i never...wish i kept the 1.1 and saved up for the car i want....i have to keep my car until Oct 09....

[Luke]

There was a thread about this yesterday.

Use the search button ;)

[Certi]

i got a loan and wish i never...wish i kept the 1.1 and saved up for the car i want....i have to keep my car until Oct 09....

Can't you pay off the loan sooner?

[OLLYVTS]

I will look into getting a loan as i can see it would be better than getting a car on finance now.

There was a thread about this yesterday.

Use the search button ;)

Sorry i forgot.:P

[Raz]

Can't you pay off the loan sooner?
i could...but then i would have no money for living...

the car is good, dont get me wrong, but would like something better...

[Clouds_mate]

You need to check if it's better to get a loan tbh. Finance is always problematic. When it comes to selling etc. and other things. If you can get a loan it's a lot better plus intrests rates are lower on loans than finance.

Alot of Finance companies now offer 0% or as low as 5% nowadays.

Loans your are now looking at around 7% +

[Peejous]

Alot of Finance companies now offer 0% or as low as 5% nowadays.

Loans your are now looking at around 7% +

Is that not just for the first year though or something?

Been a while since I looked at finance tbh. Always been told to stay clear.

[AdamW]

I would opt for a loan from your bank......

Or raid grandparents house

[immense]

Buy outright for me, don't like having things on finance myself, way I see it is buy to what you can afford. My mate got a car on finance, wrote it off 9 months into having it and still paying monthly for a car he doesn't even own anymore now..... and that was last March! ....

[AdamW]

Buy outright for me, don't like having things on finance myself, way I see it is buy to what you can afford. My mate got a car on finance, wrote it off 9 months into having it and still paying monthly for a car he doesn't even own anymore now..... and that was last March! ....

Didnt he have it insured?

[seat-craig]

Buy outright for me, don't like having things on finance myself, way I see it is buy to what you can afford. My mate got a car on finance, wrote it off 9 months into having it and still paying monthly for a car he doesn't even own anymore now..... and that was last March! ....

thats why people have insurance.


theres nothing wrong with finance or a loan both the same. i would just find the car you want go to the dealer and ask to buy it on finance. they all have in house financial services so they will tell you what they can offer you and break it down for you!

[betty02]

It was cheaper for me to get the car on finance then it was to get a loan!

It seams to be that way alot recently and it was so easy to get the car on finance took all the stuff i needed down license, paper bit and plastic bit, bank statement, passport and they sent away my finance request takes up to 24 hours got home got a call that night been accepted go sign contract and pic up car in the morning easy as 1-2-3!

[Carmi]

I would get a personal loan, your apr will be more but finance means you usually pay more for the car in the first place instead of getting a personal loan and buying a car privately, I have done both and I'd defo always say loan.. also your bank are alot more flexable with payments and have better price plans to suit you.
Either way you have to think carefully. What about getting aloan from your parents or someone?? offer them a small bit of interest

[Clouds_mate]

Buy outright for me, don't like having things on finance myself, way I see it is buy to what you can afford. My mate got a car on finance, wrote it off 9 months into having it and still paying monthly for a car he doesn't even own anymore now..... and that was last March! ....

Sadly im shit at saving. To scrap together 17k for a new car would take me a while. Yet putting down a nice deposit and paying it monthly would be much easier for me and my life style wouldnt be effected with saving every penny i earned.

Most people with cars of a higher value then normal have some form of monthly repayment on them.

[scottyvtr]

finance is a pain in the arse i was going to sell the freelander its worth 5,800 and i need 7ish to clear the finance i would go for the bank loan- i had finance on my disco and it was the dealers own finance the intrest was quite high changed it to a loan after a year and it half'd the interest

[bbewekim]

loans are better, especially as most finance want like 20% upfront deposit?

I got a loan of 7k, i had a bad credit rating as for 3 months of that year i was about 10quid short of my o/d limit so the interest was quite high, however i will be going to the bank 12 months after taking out the loan and theyre going to give me a much better interst rate :D. Also if i come into some dosh i can pay off the loan outright interest or charge free. (if i come into financial difficulty i can also move the payment date or get insurance so that if i cannot pay it will be ok).

When it comes to selling my car... i have $$$ in my pocket to do with what i like, dont have to give it back to anyone.

[bushy]

Missing Payments Will Have Severe Consequences And May Make Obtaining Credit More Difficult In The Future.

[Jadeth]

I think loans and finance is a bad idea, just get urself into debt, better to save up and buy somethin you can afford instead of buying a car and still paying for it in 5 years time.

[Matty_Mills]

i currently have a brum brum on finance. 90 quid a month. not bad. just put down the biggest deposit you can on. lowers the monthly payments

[OLLYVTS]

Thanks for all the info guys.I will look into it abit more and see what would work out cheaper in the long run.

[Hanuman]

Sorry but ANY1 who says both are bad. Save. Are either 16year olds with no jobs. Or completely financialy fkn stupid. No1 has 8kplus in cash. That wud take me say 82months savn 100 quhd a moth. So id be savn for 7 years b4 i cud get the car. OR GET A LOAN FOR 8 AND PAY THE 100 A MNTH I CUD MANAGE BUT. Thats n extreme case simplified. Ppl who dnt understand loans n finance either live with mammy or have the money to buy a house/car/electrical goods outrite.

[Hanuman]

With clean credit i got offered a loan for 2.5k for 3yr on 118quid a month so thats 4k248 fuly paid. I got car finance thro barclays for 0 yes zero percent apr. Bt had to pay 250 as an itial payment then 85 FIXEd for 36mnth plus last payment ov 285 so all in all its bout 3k 400 for the finance. Savn me like 750 against the loan. Which is ALOT on only a small time/cash sum.

[Sophie123]

with car finance im under the impression that you have to pay handling fees.
and final payments etc.
when i got my car i saved up half the total ammount of the car, and got a loan for the other half.
it was just before all this credit crunch stuff really took hold so i got a good rate and i pay 120 a month over 2 years which isnt bad imo.
Its just about really looking into all your options and working out what is best for you.

The dealer where i got my car from offered me their finance for 135 a month over 3 years with no deposit and a 3000 final payment plus 200 completion fee of something stupid.

[Payney]

Now that i've had a loan, i will never again.

I paid off it now.. But i was going to go for another, just to change cars, when my car is already fine anyway... Nothing wrong with the Mango beast, so i've opened a savings account, and when i litterally need/want a new car, i'll have some saved up anyway in my savings...

[Leemc2008]

I've had finance, and never again.. from now on if I cant afford cash, I cant afford it..

Pain in the ass.. try and find other ways to source the money. i.e Bank loan..

[OLLYVTS]

Is there any good companys on the internet to see how much you have to pay back a month plus the intrest if i get a car on finance?

Any links would be appreciated.

[kristel10589]

Is there any good companys on the internet to see how much you have to pay back a month plus the intrest if i get a car on finance?

Any links would be appreciated.

http://www.verdictoncars.com/jsp/vocmain.jsp?lnk=600

http://www.askaprice.com/car-finance.asp?page=finance_calculator

[Hanuman]

Unles u want a cheap banger or have money savd u need a loan or finance. How do u thnk ppl buy houses sofas tvs cars. They cudnt save that 100kplus. Its not that they cnt afford it. Its that they dnt av the 100k upfront but they can afford the 600quid od payments over 30 od year.

[Vinny_VSX]

My c2 is on finance and personally I think it is brilliant. Mainly because I cannot save, so this way I can still go out and have a brand new car. The only thing is though, is that I have to keep the car for 2 1/2 more years which isn't a bad thing. But by then I know I will be extremely bored of the car.

[OLLYVTS]

http://www.verdictoncars.com/jsp/vocmain.jsp?lnk=600

http://www.askaprice.com/car-finance.asp?page=finance_calculator

Thanks for the links,Repped:y: