Wallachie Posted September 11, 2006 Report Share Posted September 11, 2006 I'm looking into a new car at the mo, and I would like more information on the best types of finance to suit me and my budget. I really have no idea what is a good deal or a crap deal, APR etc just confuses the hell out of me. If anyone can help me out, can you please drop me a PM?? Thanks! Link to comment Share on other sites More sharing options...
Wallachie Posted September 12, 2006 Author Report Share Posted September 12, 2006 Come on, is there no-one on this site that knows anything about vehicle finance?!?!? Link to comment Share on other sites More sharing options...
Philbes Posted September 12, 2006 Report Share Posted September 12, 2006 Save up until you can afford it. No interest to pay and you will earn interest on your money as you save. Do you really NEED the car now rather than when you can really afford it? Link to comment Share on other sites More sharing options...
Wallachie Posted September 12, 2006 Author Report Share Posted September 12, 2006 [ QUOTE ] Do you really NEED the car now rather than when you can really afford it? [/ QUOTE ] Yes, and I can afford it, but I want to take finance rather than plump cash into the car. I would rather use the money I've made on a couple of recent ventures to make me more money, rather than putting it into a car. Anyway, I didn't ask for you criticism, so unless you can help me with finance...... Link to comment Share on other sites More sharing options...
s4_sat Posted September 12, 2006 Report Share Posted September 12, 2006 If you get it from AC, i can get you staff rates on finance for it. Link to comment Share on other sites More sharing options...
gizze Posted September 12, 2006 Report Share Posted September 12, 2006 Mills, what car are you looking at? What is your monthly budget? Do you want to keep it for say 2 years maybe 3 or do you want to keep it for as long as you can? Link to comment Share on other sites More sharing options...
rothwell Posted September 12, 2006 Report Share Posted September 12, 2006 Do you want to own the vehicle at the end of the contract? Link to comment Share on other sites More sharing options...
Wallachie Posted September 12, 2006 Author Report Share Posted September 12, 2006 Thanks for the replies giZZe and Rothwell! I don't care if I own the car at the end or not, I just want to make use of my car budget from work, which is just under £500 net a month. I am willing to stick a deposit of between £5-7k, and take the finance over 2 or 3 years. I am keen on a CSL, but the new S3 is also tempting me as a less risky proposition i.e. if anything goes bang I will have 3 yrs warranty. Link to comment Share on other sites More sharing options...
rothwell Posted September 12, 2006 Report Share Posted September 12, 2006 What's your annual mileage? Cars like S3 and CSL should have attractive PCP offers because of high residuals amusing you aren't going to do 30k a year in them. Also do you have a part exchange to add into the equation? Link to comment Share on other sites More sharing options...
Wallachie Posted September 12, 2006 Author Report Share Posted September 12, 2006 [ QUOTE ] What's your annual mileage? Cars like S3 and CSL should have attractive PCP offers because of high residuals amusing you aren't going to do 30k a year in them. Also do you have a part exchange to add into the equation? [/ QUOTE ] Annual mileage is circa 15k, but if I went for a CSL I would probably get a cheap jalopy to run around in, not so with an S3. No part exchange. Link to comment Share on other sites More sharing options...
theduisbergkid Posted September 12, 2006 Report Share Posted September 12, 2006 [ QUOTE ] I'm looking into a new car at the mo, and I would like more information on the best types of finance to suit me and my budget. I really have no idea what is a good deal or a crap deal, APR etc just confuses the hell out of me. If anyone can help me out, can you please drop me a PM?? Thanks! [/ QUOTE ] Booster is the man, but I think he's on hols... Link to comment Share on other sites More sharing options...
Booster Posted September 12, 2006 Report Share Posted September 12, 2006 I'm back but not on top form. Had some bad news. A mate of mine has died (see LOJ). Mills, if you get any quotes. PM them to me and I'll run them through our system and see if they are any good or not. Link to comment Share on other sites More sharing options...
Gareth Posted September 12, 2006 Report Share Posted September 12, 2006 Mills Dependant on the specific car and your situation you would best advised staying away from PCP deals. A far more efficient way to fund your car is via Lease Purchase Balanced payments which is very similar in profile to a repayment mortgage. In that I mean that you are paying off both interest and capital from day one and not paying just interest - as you would be with a front loaded PCP agreement. I deal with this subject all day for people so let me know if you'd like any more pointers at all Gareth. p.s. CSL is a fine choice by the way Link to comment Share on other sites More sharing options...
Philbes Posted September 12, 2006 Report Share Posted September 12, 2006 [ QUOTE ] [ QUOTE ] Do you really NEED the car now rather than when you can really afford it? [/ QUOTE ] Yes, and I can afford it, but I want to take finance rather than plump cash into the car. I would rather use the money I've made on a couple of recent ventures to make me more money, rather than putting it into a car. Anyway, I didn't ask for you criticism, so unless you can help me with finance...... [/ QUOTE ] I note that you have now added in other information such as you are using a car allowance to finance the car. Somewhat changes my opinion. Also, didn't you notice the smiley! Link to comment Share on other sites More sharing options...
gizze Posted September 12, 2006 Report Share Posted September 12, 2006 Mills, listen to Gareth on this, if you are looking at spending your car allowance then you want to do a lease plan with balanced payments so you are not tied in, you have a nice deposit so won't get caught out anyway but with balanced payments you can at least pay some off early or swap if you change your mind after 6 months without getting stung. If you are looking at a CSL (or an S3 for that matter) then you really should give Gareth a call, not only will he find you the best deal finance wise he will be able to source you the right car too which takes away a lot of the hassle without having to pay dealer prices. Link to comment Share on other sites More sharing options...
sms720 Posted October 21, 2006 Report Share Posted October 21, 2006 Gareth you have PM Regards Simon Link to comment Share on other sites More sharing options...
steelwind101 Posted October 21, 2006 Report Share Posted October 21, 2006 Making payments on a depreciating good it not a good thing Link to comment Share on other sites More sharing options...
chipandpin Posted October 21, 2006 Report Share Posted October 21, 2006 I use contract hire - works for me as cash flow is important, but the car will have to be returned in 3 years (just about right timing for a Skyline GT-R) MOst lease companies will actually let you go onto a secondary rental period though if you wanted to keep the car. Link to comment Share on other sites More sharing options...
Gareth Posted October 23, 2006 Report Share Posted October 23, 2006 [ QUOTE ] Making payments on a depreciating good it not a good thing [/ QUOTE ] possibly, but if you don't have the capital or want it tied up, it's the only way to fund a car purchase. Link to comment Share on other sites More sharing options...
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