Where to borrow money?
Discussion
I'm considering the merits of buying a new car over a used car.
I know dealers tend to have finance offers on new cars but what is a good deal these days? If I dont buy new, same question, what's a good finance deal on a used car and can dealers offer a good rate / APR?
Any help appreciated.
I know dealers tend to have finance offers on new cars but what is a good deal these days? If I dont buy new, same question, what's a good finance deal on a used car and can dealers offer a good rate / APR?
Any help appreciated.
Finance rate is only one component of the deal so don't panic. And money off is better than lower interest if the payments are the same, because if you have higher interest you can save more again by paying off early. That said, once the cash price is as low as possible, you can still haggle on the interest rate, and vice versa.
What sort of budget do you have? And what sort of car? If you're after a big executive saloon you don't want to know about good Citroen C1 deals.
If your credit is good enough I'd go the personal loan route. M&S has 6.9% APR typical - but bear mind mind that the definition of "typical" now means that only 50% of applicants need to be offered that rate.
Until recently it was two thirds but EU legislation actually made the situation worse in terms of consmumer protection, though better for half of new loan applciants (for now at least)they are now going to be on rates the other 1/6th who'd have been offered the typical rate wouldn't be able to get. If you see what I mean.
What sort of budget do you have? And what sort of car? If you're after a big executive saloon you don't want to know about good Citroen C1 deals.
If your credit is good enough I'd go the personal loan route. M&S has 6.9% APR typical - but bear mind mind that the definition of "typical" now means that only 50% of applicants need to be offered that rate.
Until recently it was two thirds but EU legislation actually made the situation worse in terms of consmumer protection, though better for half of new loan applciants (for now at least)they are now going to be on rates the other 1/6th who'd have been offered the typical rate wouldn't be able to get. If you see what I mean.
Gassing Station | Finance | Top of Page | What's New | My Stuff