New finance site
Discussion
Paul was showing me his new website last night, so I spent half the night running numbers on the online calculater :-) go give it a go and support our sponsors. http://www.pre-approvedfinance.co.uk/
Details Finance Payments
Vehicle Price: £860,000.00
Total Financed: £560,000.00
Balloon Amount: £559,000.00 (65%)
Monthly Payment: £4,107.73 Length of Agreement: 36 Months
Deposit/Part-Exchange Amount: £300,000.00
Total Payable: £706,878.11
Total Interest: £146,878.11
Details Finance Payments
Vehicle Price: £860,000.00
Total Financed: £560,000.00
Balloon Amount: £559,000.00 (65%)
Monthly Payment: £4,107.73 Length of Agreement: 36 Months
Deposit/Part-Exchange Amount: £300,000.00
Total Payable: £706,878.11
Total Interest: £146,878.11
WTF are you buying? Is that reventon numbers? You haven't have you? 
Cheers buddy, don't think our adverts will be live till later today but glad you like the site so far.
I don't think there are many sites in the UK that do the calculator with balloon or straight finance which is what we really wanted so people can actually help themselevs them just apply for the finance online like a credit card.
Paul
Cheers buddy, don't think our adverts will be live till later today but glad you like the site so far.
I don't think there are many sites in the UK that do the calculator with balloon or straight finance which is what we really wanted so people can actually help themselevs them just apply for the finance online like a credit card.
Paul
Edited by CUE99T on Monday 22 October 12:55
Troesma said:
Congrats Paul. Will certainly give it a go for my next toy...
And if you need a financial expert anytime, just ask
Thanks Fella.And if you need a financial expert anytime, just ask
I am mostly the technical business arm of it, Andy Wise looks after the financial side, but he does lurk in here alot and the Porsche section.
Also any feedback for the site then please just email me if thats ok. Always happy to develop what people might want.
SIR MP said:
Hi Paul,
What a great website, finance options made plain and simple. I presume once I am pre-approved I can go shopping for my next toy !
Well done that man
Cheers
Mark
Thanks Mark.What a great website, finance options made plain and simple. I presume once I am pre-approved I can go shopping for my next toy !
Well done that man
Cheers
Mark
Basically it just allows you to make it all clear and written down on paper (or on the web in our case). None of this, we'll email ya or call ya when we can be bothered, your basically in the driving seat as.
I like the fact of keeping it nice and simple, getting indicative costs for the finance then just applying online like a creditcard application. It's about 5 pages, usual questions and voila, within 24hrs ur finance should be in place assuming there is nothign complicated about the individual.
I think we are the first to offer a complete online app, lots of form based unsecure applications out there, but none I know offer a decent calculator like ours too.
What can I say we aim to please!!!!!
We look forward to securing your next dream purchase.
Love the Mondy cab btw, Scent of a Woman did it for me on THAT car!!!!!!
One comment would be that you dont state the interest rate used in the quote. I know that you've said in the disclaimer that interest is based on personal circumstances, but if you're providing an example quote then its pointless unless you know what rate they've assumed. Its good to see that the implicit rate in the example is quite conservative though.
Thanks for the comments guys, much appreciated. Try and catch everyone in this post.
Would like to think it's much easier to use us than to spend 30mins on a phone to someone whilst telling the whole office your business!!
Also we feel our calc has some sensible lending policies around it like no more than 65% balloon and a reasonale loan rate which could go up yes, and also a bit of validation that would be the same as processed in a dealers calculators.
Most loan docs tell us that the setup fee actually slightly alters the rate of APR too.
Cheers
Paul
anonymous said:
[redacted]
Yes thx Robin, balloons would be very dependent on the car but if we restrict it becomes unworkable as some new cars get a higher balloon than some older cars worth twice the price. Tough call to fix, I guess we are assuming the future buyer would be aware of a possible balloon and not be unrealistic.Would like to think it's much easier to use us than to spend 30mins on a phone to someone whilst telling the whole office your business!!
kryten22uk said:
One comment would be that you dont state the interest rate used in the quote. I know that you've said in the disclaimer that interest is based on personal circumstances, but if you're providing an example quote then its pointless unless you know what rate they've assumed. Its good to see that the implicit rate in the example is quite conservative though.
TBH there is alot of factors for an APR to be calculated and alot of FSA regulations around displaying it so it's a tricky area.Also we feel our calc has some sensible lending policies around it like no more than 65% balloon and a reasonale loan rate which could go up yes, and also a bit of validation that would be the same as processed in a dealers calculators.
Most loan docs tell us that the setup fee actually slightly alters the rate of APR too.
jonny5 said:
Auto credit profiling which will give you your APR and Baloon would be very trick Paul .... Selecting your own Baloon and APR (as I see it) is largely irrelevant unless linked to the credit profile.
Spot-on Jon and will be available in our forth coming members section and some other financial services will be available.Cheers
Paul
selmahoos said:
Certainly don't wanna be an a**e Paul, but I ran my data thru the calculator and the monthly I pay is £100 less and the balloon £5000 less on 5 year term. Rate is base + 1.5 with Lombard via specialist.
Thats cool Roy, all entitled to our opinions, thats what a forums is for....1 thing I would say is knowing ur circumstance a bit more, I'd say ur not the average punter mate.
Bet not many would get it.
How many cars did you buy over the last few years with them, as do you not buy fleet cars?
Paul: The only other one is The Troosers Porsche bought later. The specialist won't touch the taxis, although Lombard will, and coincidentally I just made a deal with them yesterday to fund more.If you guys are interested in financing taxi purchases, you should contact Alex Hazlett at Cabs Direct/Allied Vehicles on Balmore Rd. 0141/336/3211. He does LOADS, but I think his financing arrangements are weak. We've given him a fair bit of biz recently, so use my name as intro.
tough when you're developing a new idea and you think you have all the answers - he's probably on the case as we speakjonny5 said:
Technical gremlins Paul ? Site has been down since yesterday?
Nothing major, as we only did a soft launch for feedback this week we are purely making these changes and a small couple of things at the backend then it will be back up shortly, most likely by COB Friday for everyones weekend virtual tyre kicking Our adverts are all queued up with the advertisers ready to go but we felt there was some mileage in the comments so decided to keep the site down until they have been done.
As it's an ASP.net app it's not just a simple change like a normal site, you knwo how long these things can take.
We like to think we listen to what people want, and not just impose our ideas, but image as you know is everything!!!
Already had 2 emails and a few msns today asking when it's coming back!!!
Thanks for the interest though, good to knwo you and the rest are missing it already.
Paul
Edited by CUE99T on Wednesday 24th October 19:16
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