TVR Finance at Drive Style

[pamelahaswell]

By way of helping to make peoples' dreams come true, Steve at Drive Style, in conjunction with TVR, is offering finance until the year end. It seems that the packages are 'tailored' to suit the individual and extends to both brand new and used TVR's. Craig phoned a couple of weeks ago to tell me of this 'initative', which I then passed to Derek - I believe it is going into the next issue of Sprint. I know that there are advantages and disadvantages of 'finance' the disadvantage for me is that you would lose a better 'deal' - but it could also be a godsend for someone to purchase that longed-for car. Steve and Craig are very nice people and the showroom is terrific.

[SXS]

* 12 months interest free.
* buy now pay 2007
* no more than 10% interest, fixed.

and then its a cracking deal.

If its a steep interest rate, with a HUGE bubble payment at the end of it, then no good.

Watched that show on tele about finance providers and how gullable people are when it comes to walking into a finance agreement! Some IT consultant in london picked up a new porscha, not fully understanding his finance agreement, until the amount is payed off in full, the car is still the property of the dealer providing the finance (in his case), at the end of the finance term, the bubble payment is the current value of the car, so basically he was loaning the car for a 3 year term, and then got hit with its current value, and some of these porka's dont depreciate that much in 3 years... ouch

[pamelahaswell]

It's none of the goodies you mention! I think finance for cars is a bad idea because when added to the depreciation of the car it is a big ouch!!! You don't have to be know much about anything to work that out! I'm posting this information because Drive Style are new and kind (well to me anyway.) Pretty daunting stuff to walk up that vast expanse of stone steps and through those tinted doors.... and as my son pointed out ... bad for TVR maybe, because young kids could get their hands on them, insurance allowing, possibly crashing them, and then how much is a 'write-off' worth to 'TVR Finance'? Not to mention injuries. I'm just passing on a unique situation that might be interesting to somebody ...

[SXS]

I totally understand, could be ok for some people no question.

But in the general, finance rates are murderous at the moment, especially with Gordan Brown being over-optimistic with his forecasts over the last 12 months...

[pamelahaswell]

I think we rest our case !!!

[SXS]

pamelahaswell said:

I think we rest our case !!!

yup

[lundinoir]

pamelahaswell said:

I think finance for cars is a bad idea...

Unfortunately some of us have no choice but to finance

[alloypearltam]

lundinoir said:

pamelahaswell said: I think finance for cars is a bad idea... Unfortunately some of us have no choice but to finance

Yep us too and the majority of TVR owners that I know.

[RUSSELLM]

I think finance on an older car isn't so bad, but when your borrowing against a brand new car, which is likely to lose 50% of it's value in the first three years, your in for a walloping.

[alloypearltam]

I am sure if it wasn't for finance the majority of new cars in this country wouldnt exist, which of course would then have a knock on effect on the used car market

I have had a range of cars, new and secondhand and everyone of them has been on a finance agreement.

[targarama]

lundinoir said:

pamelahaswell said: I think finance for cars is a bad idea... Unfortunately some of us have no choice but to finance

Of course you have a choice. What you mean is that to drive your dream car, brand new from the showroom you had to get it on finance. You could have bought a 22k Tamora - half the cost and I'm sure not half the car. How about a 10k Chimaera or Griffith?

I got my Chimaera and kept it for 6 years so I can then afford to swap it for a newer car. So I saved for 6 years. OF course I could have gone out and got a new car after 2-3 years on finance. I had a choice. So did you.

This is not a gripe, just a comment - everyone has a choice.

[chris watton]

targarama said:

Of course you have a choice. What you mean is that to drive your dream car, brand new from the showroom you had to get it on finance. You could have bought a 22k Tamora - half the cost and I'm sure not half the car. How about a 10k Chimaera or Griffith? I got my Chimaera and kept it for 6 years so I can then afford to swap it for a newer car. So I saved for 6 years. OF course I could have gone out and got a new car after 2-3 years on finance. I had a choice. So did you. This is not a gripe, just a comment - everyone has a choice.

I too could have very easily have bought a brand new Tam last year, albeit with a little finance, instead, I sold the Chim and put the rest myself for a Tam, we owe nothing on it - and that is a nice feeling! Having said that, I had the Chim on finance, but it was never crippling.

[hexhamhc]

TVR Financial Services have an autumn promotion on at the moment which is built around the T350C but I understand that it could be applied to other models. Based on a new T350C at £39,995 with 25% deposit gives 36 payments of £399.64 with a final 'balloon' payment of £20,397.46 and is a fixed APR of only 6.6%. This is cheap money and the terms can be amended to suit individual circumstances. This is available through all TVR dealers at present so you can afford that early Christmas present!!
Best regards, Tony

[SXS]

hexhamhc said:

TVR Financial Services have an autumn promotion on at the moment which is built around the T350C but I understand that it could be applied to other models. Based on a new T350C at £39,995 with 25% deposit gives 36 payments of £399.64 with a final 'balloon' payment of £20,397.46 and is a fixed APR of only 6.6%. This is cheap money and the terms can be amended to suit individual circumstances. This is available through all TVR dealers at present so you can afford that early Christmas present!! Best regards, Tony

So thats a total of £44783.25 via finance.... you're right tony, thats not a bad deal at all!!!! if it can be transferred over to the Sagaris - then we can see some good numbers being sold this year! TVR really should advertise their deals more publically!!! Ted, give TVR a call and see if they want to run a christmas advertising campaign via Pistonheads?

[anonymous-user]

I would never borrow money to buy a car, particularly a sports car or "fun" car. A business tool maybe, but not a sports car.

[pamelahaswell]

alloypearltam said:

lundinoir said: pamelahaswell said: I think finance for cars is a bad idea... Unfortunately some of us have no choice but to finance Yep us too and the majority of TVR owners that I know.

As I said, I had information to pass on which could be a godsend for some. I know a dealer who is offering finance and the information was too good not to pass on to others, who indeed may have no other choice. If having finance gets you the car you really want, nobody would want to argue with that. My personal opinion is that I don't think finance is a good way to buy a car, unless it is the 0% variety. This doesn't stop me telling others that if you want a TVR and finance would appeal very much to you, then Drive Style are offering it.

[pamelahaswell]

hexhamhc said:

TVR Financial Services have an autumn promotion on at the moment which is built around the T350C but I understand that it could be applied to other models. Based on a new T350C at £39,995 with 25% deposit gives 36 payments of £399.64 with a final 'balloon' payment of £20,397.46 and is a fixed APR of only 6.6%. This is cheap money and the terms can be amended to suit individual circumstances. This is available through all TVR dealers at present so you can afford that early Christmas present!! Best regards, Tony

Yes Tony, that is exactly what Drive Style told me - it is a TVR initiative - and available at other dealers. They had it on all their TVR's, including cars they could get in for you to look at. I'm glad you mentioned Christmas because that is exactly why I started this topic. I think it was three weeks ago I was told this, but I also know that this information will not be widely known until next issue of Sprint, and by then it could be too late for some, because I believe it only goes up to year end.

[Ribol]

lundinoir said:

pamelahaswell said: I think finance for cars is a bad idea... Unfortunately some of us have no choice but to finance

We all have the choice of not living beyond our means.
Borrowing money to make an investment(house/business) is a smart move, borrowing money to buy a car and make a loss is not such a smart move.

[jamster]

Ribol said:

lundinoir said: pamelahaswell said: I think finance for cars is a bad idea... Unfortunately some of us have no choice but to finance We all have the choice of not living beyond our means. Borrowing money to make an investment(house/business) is a smart move, borrowing money to buy a car and make a loss is not such a smart move.

On the contrary! I've just bought my Sagaris and decide to put 30K down and finaance the other 25K.
Moneys so cheap now youd be crazy to dismiss offers of 6.2% APR(Drivestyle did my car too). I can now use my spare 25K to make me 50K. You'll find the richest people out there are always using other peoples money to make them more.
Each to their own though. Each carry their advantages.
Cheers
Jamster.

[DJC]

I financed my car. Will cost me a lot more than buying outright, but Im owning a saaris and frankly its worth it.

Anybody who considers the cost of depreciation when buying a sportcar is a glorified BMW driver.