what apr / should I be paying when refinancing

[Kersh2312]

Hi all just looking at refinancing my bubble on my car ,i have an excellent credit rating and the quotes Im getting back are apr 6.9% and fixed rate of interest 3.57% over 3 years is that good
many thanks

[Shrimpvende]

Is that with AM?

That does sound about average, your standard third party finance houses like JBR or Charles and Dean will offer similar, although often with quite a high residual from experience which reduces the monthly cost slightly. If you qualify, the high net worth rate is usually slightly less, but still above 6%.

Are you wanting to avoid putting any more money in? A balloon refinance with one of the above generally wouldn't require another deposit, it would just be straight monthly payments. If you're happy to pay another deposit (minimum 10%) then personal asset finance from a bank (e.g Clydesdale) could be a better bet, on a hire purchase agreement. Expect APR on this to be closer to 5%, again depending on personal circumstances.

[Kersh2312]

thanks