Car financing

Status
Not open for further replies.


Go down the route of every fucker on here. Buy an Audi q7 or the latest landie. I will take great pleasure of not putting my foot on the brake in my 1500 quid x trail when you pull out in front of me on the a19.
 
Amnorrageordie said:
Go down the route of every fucker on here. Buy an Audi q7 or the latest landie. I will take great pleasure of not putting my foot on the brake in my 1500 quid x trail when you pull out in front of me on the a19.
Click to expand...
I’ve noticed they gan mad for disco’s on here .f***ing crap like.
 
Howard the Duck said:
I'm looking to get a new car and tempted to get something on finance. What are the pros and cons? Can anyone explain in layman's terms why it would be better to get a nicer car on finance rather than buy something cheaper out right?

I've never liked being in debt (mortgage aside) and always felt like renting was money down the drain a bit (I know that's a backwards way of thinking) so need convincing this is the way to go.
Click to expand...

Just bought one. Zopa was 3 percent, car place wanted 13 percent.
 
safcsafc said:
We've just bought a 1 yr old car on 4 yr pcp. Will be using voluntary termination and handing back after 34 months at the half way finance point.

We've always had finance/loans for cars a few year old and never made a penny. pcp takes away the hassle of selling it on at the end for us.
Click to expand...

just done the same a few weeks ago

never knew about the voluntary termination thing but the dealer brought it up. not exactly sure how it works mind as what's the point of a 4 year deal if you can just say i'm done when you've paid off 50% of the loan balance. sure there's some sort of catch i don't know about yet but i was happy with the car and payment plan anyway so went for it
 
Pacific said:
just done the same a few weeks ago

never knew about the voluntary termination thing but the dealer brought it up. not exactly sure how it works mind as what's the point of a 4 year deal if you can just say i'm done when you've paid off 50% of the loan balance. sure there's some sort of catch i don't know about yet but i was happy with the car and payment plan anyway so went for it
Click to expand...
As part of your pcp agreement the finance company have to include a voluntary termination clause. This comes in to play once you've paid off half of total amount borrowed (including any interest). They dont want you to do this but it's a legal requirement they have to give you.

We bought a one year old car so by that time the warranty will have ran out. We could hand it back and start again with a newer car so it doesn't make sense to me to keep it any longer. The only draw back is the finance company may refuse to offer you finance on your next car. That's not really an issue though. There's loads of finance companies out there so the dealership can just use another one.

That's my understanding of it anyway.
 
I always think if the car dealer pushes it, then it's better for them and not you.

Buy a Dacia outright, cheaper than a second hand car in many cases. Obviously this isn't an issue if you like your car to be a status symbol or sporty or something.

I used the finance deal to get free upgrades, then paid it off penalty free in 2 months anyway.
 
Status
Not open for further replies.

Back
Top