Is it linked in anyway to the BoE base rate?
I lookedup some finance through my usual company, and they said their base rate was currently 6%. The lady on the phone also said that this rate is standard across all finance houses. Is this true?
Sounds about right, interest rates just went up last week to 5.5% and with inflation having hit 3.1% (target of 2%) you can expect further rises to come. I'd be surprised if we dont break 6% this year IMHO.
No it's not.
I bought a BMW 7 series from an independent last month and was offered finance at 5% by independent company. So rates lower than 6% are certainly still available...
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