Car finance advice

H

Hendrax

Well-known member

Jan 23, 2013

3,510

Worthing

• Nov 16, 2014

• #1

As the title suggests, I am considering getting a family car on finance. Reason: can't afford the huge price up front and am sceptical about buying something old, not knowing if it's going to break down within 1000 miles. Some of the places I am dealing with offer 12 months parts and labour with an MOT on the day of purchase.


It all seems ok to me but I would like to hear any other options I may not have considered and bad/good experiences going down this route.

 

Worthingite

Sexy Pete... :D

Sep 16, 2011

4,959

Worthing

• Nov 16, 2014

• #2

I'm sure there has been a thread on here about leasing a car - similar sort of setup to a finance thing one would presume, however I think you either get the option to buy the existing one or get a new one every three years or so. The idea in principle sounds pretty good, because you'll never incur any massive repair or replace bills, but I guess the monthly amounts may be a bit higher to reflect this. Worth looking into if nothing else. As I say I think there is a thread on here if you look, and I think some regulars on here do this, so see what other people say.

 

M

Mutts Nuts

New member

Oct 30, 2011

4,918

• Nov 16, 2014

• #3

Hendrax said:

As the title suggests, I am considering getting a family car on finance. Reason: can't afford the huge price up front and am sceptical about buying something old, not knowing if it's going to break down within 1000 miles. Some of the places I am dealing with offer 12 months parts and labour with an MOT on the day of purchase.


It all seems ok to me but I would like to hear any other options I may not have considered and bad/good experiences going down this route.

Click to expand...

You could try PCH or PCP

 

Last edited: Nov 16, 2014

Shoreham Gull

New member

Nov 3, 2012

494

Westdene

• Nov 16, 2014

• #4

I go to my bank Natwest, to get car loans..

Rates are low at moment 4.9% , which on borrowing £7500 over 48 months @ £172 per month, you pay back £8250!

Which is only £750 charge for borrowing... Bloody good in my opinion