Finance from a Ferrari dealer

[GI Jnr]

Thinking of gearing the purchase to keep a chunk of the money in my back account rather than buying outright (or would this be better?). How much movements could you expect to push for, if any?

I was originally quoted a rate of 3% over their base which was 4%.

Also, would scope of movement vary depending on which car it was?

What have been people's experience?

Thanks for any replies.
Tuan

[murph7355]

If you can afford it, buy it outright.

If you're not sure you can afford it, or are thinking of chucking your "reserve" at some other purchases etc, ask yourself what you would do if something big went wrong (or about how to finance normal running costs)...

Personally I'd never buy another car on finance for amyriad of reasons, most of which are obvious.

[355f]

have to concur with murph.

When I purchased my car Marranello fiancial services would only finance 25K or more and the schemes were for balanced payment leases.

Also there tend to be hidden extras such as setting up fees and if you take the finance over say three years there is normally a penalty for early settlement. The manufacturers scemes are not competative products in the market.

If you have to borrow the money I would use alliance and leic or a similar company (6.1 apr) no hidden charges. Of course this route limits your borrowing to about 20K. If you borrow more juts look at the TOTAL repayable.

Here is an example directly from aston martin finance ( same rates as marranello)

Cash price 97K deposit 25K 36 payments of 1K then balance of 56K total repaid at term end £119,000 for a car that will then be worth 47K

Dont finance more than 50% of the car in my opinion.

[GI Jnr]

I thought that would be the general opinion.

Cheque it is then!

Thanks again

Tuan