Phil330 Posted June 1, 2008 Report Share Posted June 1, 2008 Does anyone know of a firm that provides finance for used cars, deferring part of the loan to the end of the term? I am not fussed about it being guaranteed. I know that car dealers will offer this, but I have seen a vehicle I like for private sale. The loan amount would be c£22k. Link to comment Share on other sites More sharing options...
962C Posted June 1, 2008 Report Share Posted June 1, 2008 Does anyone know of a firm that provides finance for used cars, deferring part of the loan to the end of the term? I am not fussed about it being guaranteed. I know that car dealers will offer this, but I have seen a vehicle I like for private sale. The loan amount would be c£22k. Fellow TSNer Gareth might be able to assist on this one with his company Bespoke Automotive Consulting. Link to comment Share on other sites More sharing options...
sidicks Posted June 1, 2008 Report Share Posted June 1, 2008 Presumably you have chosen this type of finance so that you can have a lower monthly payment, and this afford a more expensive car than would normally be the case? That's fine, but obviously, there are some drawbacks to this type of finance: 1) The 'cost' of interest on the balloon can be quite a lot 2) You still need to fund the balloon at the end of the period if you want to own the car 3) Cancelling the contract mid-term can be extremely expensive As above, speak to Gareth and explain what you are looking for, and I'm sure he will be able to help! Sidicks Link to comment Share on other sites More sharing options...
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