Specialist car finance
Discussion
Hi all thanks in advance for any advice given. I am looking to finance a range rover but trying to get a lender who really know their cars and won't just offer up a s*** GFV
Before anyone asks I like to finance depreciating assets as it allows me to offset my liquidity into more profitable ventures..
Anyone use any particular broker or lender or even a bank who would be pretty competitive in terms of APR and GFV
Thanks in advance guys!!!!
Before anyone asks I like to finance depreciating assets as it allows me to offset my liquidity into more profitable ventures..
Anyone use any particular broker or lender or even a bank who would be pretty competitive in terms of APR and GFV
Thanks in advance guys!!!!
Edited by barrieeld on Saturday 27th July 21:32
Yes, be careful!
GFVs are often appear to be set quite prudently but many many cars, Range Rovers included, are being handed back at the end of the agreement because they are in negative equity.
This isn't necessarily a bad thing for the consumer as they will have paid back less of the capital cost than if they had bought it outright and traded it back in, but it does show that whilst cautious the residuals are not unrealistically low.
There are many specialist funders out low who will offer you a brave residual with a swagger "because we know the market well" or "we are enthusiasts who recognise <bull,bull,bull> " etc, but even casual scrutiny shows that they are Unregulated agreements.
This means that you can't hand the vehicle back at the end, you are responsible for any negative equity, no voluntary terminations and they don't have to rebate you any interest if you decide to terminate early.
If you find a deal with an unusually high residual be sure to check the above carefully before committing to it.
GFVs are often appear to be set quite prudently but many many cars, Range Rovers included, are being handed back at the end of the agreement because they are in negative equity.
This isn't necessarily a bad thing for the consumer as they will have paid back less of the capital cost than if they had bought it outright and traded it back in, but it does show that whilst cautious the residuals are not unrealistically low.
There are many specialist funders out low who will offer you a brave residual with a swagger "because we know the market well" or "we are enthusiasts who recognise <bull,bull,bull> " etc, but even casual scrutiny shows that they are Unregulated agreements.
This means that you can't hand the vehicle back at the end, you are responsible for any negative equity, no voluntary terminations and they don't have to rebate you any interest if you decide to terminate early.
If you find a deal with an unusually high residual be sure to check the above carefully before committing to it.
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