Car Finance

[LucyS]

How many of you have a car on finance?

I know this is personal and some people may not wish to answer.

Just wondering how commen it is

 

[Sarahkka]

I usually go secondhand and either save up or get a small loan from the bank, so I'm not much help. Sorry!

 

[Vici]

I did have, its paid off now tho What you looking to know hun? Some have good deals but its always worth checking out interest rates etc before commiting as it can be better to get a loan

 

[polo_princess]

Same as Sarah ... if i want to buy a car thats more than i can afford i'll get a loan from the bank rather than go through finance, even staff rates on finance arent great the bank is much cheaper imo

 

[Vici]

Altho quite a few garages where I live are offering £0 deposit and 0% finance with free 1 yrs insurance so worth looking into if you're making the commitment

 

[LucyS]

My own bank want 17%!!

 

[Caroline]

We financed with part personal loan, and the other part on 5 yrs 0% finance from the garage.

Got a really good loan rate online via co-op.

Garage were really good too as I got over 1/2 the price of the car on 0% due to the way they calculated it.

I'd shop around for personal loan 1st & see what monthly payments would be, then see how much it is on finance with garage. Be careful tho 'cos if financing thru garage as some put an annula mileage restriction on you, & avoid one with a ballon payment at end.

 

[danni2609]

I part exchanged my old car and got my current one through finanace

 

[Bentley2008]

We bought a 11k car and we pay £250 a month. If i would have got a loan from bank i would have swapped the car all the time as its paid off in a way : i.e loan not attached to the car.

I want to keep my car for a while now so thats why we got it on finance.