RCUK Posted February 22, 2006 Report Share Posted February 22, 2006 I've sorted out some finance for my car (collect March 3rd!) through Alliance and Leicester - but the APR is 7.9% which is far to high for my liking. I was thinking of approaching the dealer to see what they would do re APR but thought id get an idea of what you guys have been offered. Never had probs getting finance before, but just got married and i think the wife has wiped out my good credit rating a tad. Link to comment Share on other sites More sharing options...
nutkins Posted February 22, 2006 Report Share Posted February 22, 2006 Cahoot do great personal loans... Link to comment Share on other sites More sharing options...
Inzaghi Posted February 22, 2006 Report Share Posted February 22, 2006 Your in luck, a price war has recently broke out in the personal loan market. Try www.moneysupermarket.com, you can check your credit rating and apply for loans without leaving a "footprint" on your credit rating. Nutkins is right, cahoot are excellent, about 5.5% at the moment. Link to comment Share on other sites More sharing options...
Simonl Posted February 22, 2006 Report Share Posted February 22, 2006 ftyourmoney.com is an invaluable resource for everything IMO. Looks like their loans part is powered by the momey supermarket anyway. Mines with Northern Rock (around 5.6% APR). Link to comment Share on other sites More sharing options...
Rayza Posted February 22, 2006 Report Share Posted February 22, 2006 Agree money supermarket is a very good site. You can do a lot better than 7.9%!! (providing your credit rating is good). Link to comment Share on other sites More sharing options...
Snoopy Posted February 22, 2006 Report Share Posted February 22, 2006 I was quickly looking through autoexpress today and they have a booklet in it about finance this week. maybe worth taking a look at. Link to comment Share on other sites More sharing options...
RCUK Posted February 22, 2006 Author Report Share Posted February 22, 2006 cheers for the heads up on the booklet. has anyone taken out finance with the dealer though? Link to comment Share on other sites More sharing options...
Simonl Posted February 22, 2006 Report Share Posted February 22, 2006 I once negotiated a good APR with BMW (7.5%) mainly because of the type of deal on offer (balloon payment). Although you might save a few quid going with a bank, they might not offer you a finance package that suits. That said, spreading the payments out for longer would have achieved the same result. Always look at the monthly payments and the overall amount to pay back as the true indication of the loan. The overall cost of a 10,000 bank loan might only be marginally more over 7 years than a 10,000 VW loan over 5 years. Link to comment Share on other sites More sharing options...
RCUK Posted February 23, 2006 Author Report Share Posted February 23, 2006 just spoke to VW ... the rate they quote was 9.7%!! Stunning. Think its going to be nationwide and 6.4% instead now. Link to comment Share on other sites More sharing options...
Simonl Posted February 23, 2006 Report Share Posted February 23, 2006 You can do much better than 6.4 mate! On the subject of finance, my electricity company has just sent me a bill for £300!!!! they've been under charging me for a year AAAAAAARRRRRRRRRGGGGGHHHHH!!!!!!!!!!! anyhow, rant over- back on topic Link to comment Share on other sites More sharing options...
JonGTI Posted February 23, 2006 Report Share Posted February 23, 2006 Im currently decided on buying a GTI and I got finance down to 4.1 % from VW dealer, putting 3/4 of the money down though, if that effects it in any way??? Link to comment Share on other sites More sharing options...
rs32 Posted February 23, 2006 Report Share Posted February 23, 2006 if you do take out a loan then always try to get one that allows you to overpay without penalty. This means that if you can afford to repay extra cash every now and then, you are offsetting the depreciation of the car against the extra interest you are repaying on the loan. It also has the added benefit of reducing the total interest you repay, much like overpaying on a mortgage. Link to comment Share on other sites More sharing options...
TP27 Posted February 23, 2006 Report Share Posted February 23, 2006 You'll get better than 4% if you're putting money down. PM me if necessary and I'll give you a car finance contact. TP. Link to comment Share on other sites More sharing options...
bfc1912 Posted February 23, 2006 Report Share Posted February 23, 2006 Got my GTi in April last year, was going to shop around with other dealers, but snapped my local dealers hand off when he offered me 0% (guess I was just lucky). Had the money from selling my house so put it in a high interest account at 5.5%. Will make nearly £1.5k over 2 years. Link to comment Share on other sites More sharing options...
rozzerfodder Posted February 23, 2006 Report Share Posted February 23, 2006 JonGTi, I pick my car up on Wednesday, VW in Kidlington got me 3.6% flat, thats 6.9 APR. Obviously this is not mega competitive so I got 5.6% from my bank. Their (VW) PCP best rate was 8.7% APR . Work out the total cost mate, monthly payment times number of months its over and add any deposit. Link to comment Share on other sites More sharing options...
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