DB9 finance - advice please
Discussion
I never bought cars on finance, always bought outright, would appreciate some advice.
Thinking of getting DB9 on finance now, had a brief look on Stratstone's website and the financing options they have there look a bit hrrmm expensive
At the low end of the market, for £40k car HP sample:
Deposit £7,754.00
Balance £31,240.00
First Payment £1,681.03
Term 24
Final Payment £1,681.03
Total Payable £44,248.72
Monthly £1,506.03
Looks like 14% APR. Does not sound normal to me but I've got used to property financing, not car financing
Advice would be highly appreciated.
Whom would be the best people to talk to, any recommendations? and what sort of rate is 'normal' for 24/36 month HP or PCP finance with 10-20% deposit.
Thinking of getting DB9 on finance now, had a brief look on Stratstone's website and the financing options they have there look a bit hrrmm expensive
At the low end of the market, for £40k car HP sample:
Deposit £7,754.00
Balance £31,240.00
First Payment £1,681.03
Term 24
Final Payment £1,681.03
Total Payable £44,248.72
Monthly £1,506.03
Looks like 14% APR. Does not sound normal to me but I've got used to property financing, not car financing
Advice would be highly appreciated.
Whom would be the best people to talk to, any recommendations? and what sort of rate is 'normal' for 24/36 month HP or PCP finance with 10-20% deposit.
Edited by 4leks on Thursday 20th September 22:05
14% APR is taking the biscuit. That will net the sales staff a nice bit of commission.
The only benefit to taking a car on a Hire Purchase agreement, apart from being able to afford it without actually having the money, is that the finance company is liable for problems should the car be a lemon. The latter aside, you would be far better saving up or getting a personal loan.
That said, I did borrow for 30% of my Aston, purely for the benefit of the protection, and the fact that I financed this small part at 2.7% flat - around 5.5% APR. at this rate it is little more than money in the bank will do for you.
A friend works in Land Rover sales. He says most folks don't care about the rate or how long they'll be paying the money back, they just care about the monthly payment. The mind boggles.
The only benefit to taking a car on a Hire Purchase agreement, apart from being able to afford it without actually having the money, is that the finance company is liable for problems should the car be a lemon. The latter aside, you would be far better saving up or getting a personal loan.
That said, I did borrow for 30% of my Aston, purely for the benefit of the protection, and the fact that I financed this small part at 2.7% flat - around 5.5% APR. at this rate it is little more than money in the bank will do for you.
A friend works in Land Rover sales. He says most folks don't care about the rate or how long they'll be paying the money back, they just care about the monthly payment. The mind boggles.
14% for 2yrs is simply wrong and you'd be well advised to take a pass on this.Portugal, which is bankrupt, can borrow at 4.4% for 2yrs!
Bramley in Surrey ran a promotion last weekend offering 1.99-2.99% for up to five years. Alternatively Oracle Finance have also struck me as highly competitive and easy to deal with http://www.oraclefinance.co.uk/
Bramley in Surrey ran a promotion last weekend offering 1.99-2.99% for up to five years. Alternatively Oracle Finance have also struck me as highly competitive and easy to deal with http://www.oraclefinance.co.uk/
I have some finance on mine. Like anything Stratstone will do a deal on the finance, you just need to haggle 
As has been mentioned Stratstone used to use Oracle but now use a smaller firm who did mine. It seems ING are the main players at the moment.
One of my clients finaced his Aston over 4 years with a deal related to LIBOR. His monthly payments were fixed. He has just recieved a cheque for £12k
To sum up they will all be up for a deal
As has been mentioned Stratstone used to use Oracle but now use a smaller firm who did mine. It seems ING are the main players at the moment.
One of my clients finaced his Aston over 4 years with a deal related to LIBOR. His monthly payments were fixed. He has just recieved a cheque for £12k
To sum up they will all be up for a deal
Behr said:
...the finance company is liable for problems should the car be a lemon.
How is this possible? Sorry, don't want to derail the thread, but I have just started looking at Astons (after attending the recent Sunday Service). Don't necessarily need finance but this seems to imply some kind of additional warranty? Or is it only in the case of brand new cars?
i've just received an email from Stratstone offering a news DBS with 0% finance, no payments for 2yrs, £22,500 deposit contribution from AM and 2yrs servicing meaning you'd pay a total of £183,000. However, a guest at the Stratstone Mayfair Vanquish event this week told me he was offered a new DBS for £125,000.
http://www.stratstone.com/new_offers/offerdetail.a...
http://www.stratstone.com/new_offers/offerdetail.a...
JBE68 said:
i've just received an email from Stratstone offering a news DBS with 0% finance, no payments for 2yrs, £22,500 deposit contribution from AM and 2yrs servicing meaning you'd pay a total of £183,000. However, a guest at the Stratstone Mayfair Vanquish event this week told me he was offered a new DBS for £125,000.
http://www.stratstone.com/new_offers/offerdetail.a...
Thx for thathttp://www.stratstone.com/new_offers/offerdetail.a...
I think DBS would be out of my price range and it is not required as the car is for my mrs who is unlikely to use more then 30% of DB9s power
She just loves the look of AM
sunbeam alpine said:
How is this possible? Sorry, don't want to derail the thread, but I have just started looking at Astons (after attending the recent Sunday Service). Don't necessarily need finance but this seems to imply some kind of additional warranty? Or is it only in the case of brand new cars?
Page 1, bottom four paragraphs my friend. Lots more info on the Internet. http://www.tradingstandards.gov.uk/kent/factsheets...
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