Cazoo and car finance
Discussion
Hi all,
Looking at buying a used car, and there are a couple on Cazoo that look very competitively priced. Cazoo won’t deal directly with any finance companies though, so my only options are to go through themselves (at 8.9%!) or to pay cash. This is annoying, as I was planning on financing through my bank (who are offering a pcp deal at 4.5%) but they need to deal directly with the car seller. I could opt for a personal loan to get the cash in my account but then the rates are much higher.
Not sure if there’s something I’m missing, but is there a way around this? If there are finance companies who would transfer funds for a PCP into my account (on condition that they’re used to purchase a car) that could work, but I suspect these don’t exist?
Looking at buying a used car, and there are a couple on Cazoo that look very competitively priced. Cazoo won’t deal directly with any finance companies though, so my only options are to go through themselves (at 8.9%!) or to pay cash. This is annoying, as I was planning on financing through my bank (who are offering a pcp deal at 4.5%) but they need to deal directly with the car seller. I could opt for a personal loan to get the cash in my account but then the rates are much higher.
Not sure if there’s something I’m missing, but is there a way around this? If there are finance companies who would transfer funds for a PCP into my account (on condition that they’re used to purchase a car) that could work, but I suspect these don’t exist?
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