Car finance (non pcp/ hp)

[Idiot88]

Evening all, not sure if this is the right section within the forum but I hope so.

I’m looking at financing a car, 2015 model £38k value. I’ve used a company called oracle in the past to finance vehicles (always been really competitive and support has been amazing - this isn’t a complaint) but the quote I’ve had is no where near the rates I’ve paid previously, I think it may be a sign of the times.

The package quoted, can’t quite remember the name but in effect was a PCP of sorts but the final/ ballon payment has to be made - no voluntary termination or right to return.

Is there any other finance company’s or schemes to try or anyone would recommend? Thanks in advance.

[Ed Moses]

All of the rates on finance, regardless of the supplier have gone up a lot in the last 12 months - lots of threads about it on this forum, alongside coverage of interest rate rises in the wider media. Rates and options are nowhere near what they were a couple of years ago as lots of people are now finding as they look for their new/next car after finishing their last deal.

[Phil.]

Assuming it’s an unsecured personal loan you want, depending on the amount, the best rates are usually listed here:

https://www.moneysavingexpert.com/loans/cheap-pers...

[Edible Roadkill]

You’ll possibly get a bank loan of 25k at around 4.9% if that helps.

Finance on used seems to be running 8-12% currently, not sure what you were offered but you’ll not do much better than that.

[Idiot88]

12.8% quoted, I did think bank loan too but wanted to try and get a lower monthly - 8% was what I was expecting to be honest, so it was a surprise at 12%