Releasing equity from car purchase?
Discussion
Good afternoon,
I've placed a deposit on a lovely C63 AMG coupe - picking it up next week
I have considered finance vs cash purchase - but as i have a pending house purchase, now is not a good time to add a large credit commitment to my file.
Of course as a PH member - i am able to make earth shattering returns on any spare cash
I have spoken with Oracle and they mentioned another option - purchase the car in cash initially and then re-finance onto a pcp agreement at a later date.
Has anyone done this and if so how does it work?
(Doing this would allow me to draw funds as a directors loan and then pay back within 9 months, so might make sense)
Thanks in advance
I've placed a deposit on a lovely C63 AMG coupe - picking it up next week
I have considered finance vs cash purchase - but as i have a pending house purchase, now is not a good time to add a large credit commitment to my file.
Of course as a PH member - i am able to make earth shattering returns on any spare cash
I have spoken with Oracle and they mentioned another option - purchase the car in cash initially and then re-finance onto a pcp agreement at a later date.
Has anyone done this and if so how does it work?
(Doing this would allow me to draw funds as a directors loan and then pay back within 9 months, so might make sense)
Thanks in advance
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