Car finance options

[contractor]

Hi.

If I put down a cash deposit on a new car and agree to finance the rest, can I decide the finance option later?

Can I agree manufacturer finance, then order car, and then seek a better rate from another source prior to taking delivery (4 mth lead time)?

[anonymous-user]

Yes.

[glm1977]

Chances are you would get a decent discount/contribution if you take the in-house finance. However, you can then repay that within the normal cooling off period and not incur any cost (bar admin fee at worst), and swap to another finance company once you have the car.

Also, in some cases, the in-house finance rates are hard to beat.

But esentially, between ordering the car and pickign it up, you can change your mind as much as you like until you sign something.

[contractor]

Thanks. The reason I ask is that Halifax are offering 3.6% Apr but I need to have had a current account for 90 days. I've just opened one today.

I was hoping to do the deal with BMW and secure finance with a half decent rate and get the car ordered.
Delivery won't be for about 4 months due to lead times and by that time I'll be eligible for the Halifax product which would likely be a better rate. I would then use that instead