Car Finance

[V5J]

Anyone here on finance, does it seem stupid?

I am on contracted work and could go on finance, just weighing it up.

Dont think I want the VTS anymore, too expensive on petrol.

Stupid GTSport Golf has changed my mind about fun lol

[VTS-Boi]

i'd personally save up and then buy the car you want!

its up to you though but as car prices are falling due to the ressesion then i'd buy private rather than brand new.

and just because the car is brand new doesn't mean it will be 100% reliable trust me;)

[kristel10589]

I would never get a car on finance just because your usually stuck with the car until it's payed off. If you need to get any sort of finance get a loan :y:

[Barry123]

personally I won't go with finance, just because of the net costs (interest and depreciation).

[Jazz]

Bank loan would probably be better than dedicated car finance.

[webby]

mate has just taken a 9.5k loan out over 5 years to get an astra cdti 150. its nice but after the interest he will have payed 12.5k for it and and he will be left with a car that worth f all after he has payed it off.

finace i would never do. just a rip at the end of the day. save up

[LVC_VTR]

dont do it mate you will loose so much money in the long run
personally i would rather save up and pay it in full

[bpm]

Depends how you do it, assuming your a contractor Im assuming you have your own limited company for tax purposes. If you run the finance through your company then you will be increasing the credit rating of your company and then giving your company value for future use should you ever wish to expand.

Do try and get a loan though even though its for a car, as you are restricted with your repayments if its strictly just for the car.

[Dez]

depends on the APR really, sometimes its no different from having car finance to a loan except a few small fees. so all depends on how much you actually pay back

[bpm]

Yeah but if you get car finance and you sell the car you must pay the outstanding balance immediately. If you get a loan that you use for a car then this does not apply and gives you more leeway in case you owe more than the current car value (happening to a lot of people at the mo)

[Dez]

Yea fair point, but at the same time if your buying a high value car on finance one would imagine your planning on having the car for some time