Civinfo - View Single Post - Finance how did you pay

SteveTDCi · 21st April 2007, 11:28

I'd go with what suits you best, 0% is the way to go if you can get it then you can earn money on your money ! I'd avoid PCP's if you can, they work for some but I feel they tie you in too much. Strangly your are probably going to get a better deal on finance, dealers tend to make money out of this, you need to weigh up if the addtional discount by going dealer finance outweighs the additional intrest you may pay.

If you need to borrow, I would get a personal loan, its not tied against the car and if your circumstances change then you can sell the car without having to settle the finance, also loans tend to work out cheaper and have no admin charges. I ignore the flat rate and look at the APR, also see exactly how much you intend to pay in intrest, the less the better and don't go for a term longer than you intend to keep the car.

21st April 2007, 11:28	#2 (permalink)
SteveTDCi Valve Cap Join Date: 7th December 2006 Posts: 24 Thanks: 0 Thanked 1 Time in 1 Post iTrader: (0)	I'd go with what suits you best, 0% is the way to go if you can get it then you can earn money on your money ! I'd avoid PCP's if you can, they work for some but I feel they tie you in too much. Strangly your are probably going to get a better deal on finance, dealers tend to make money out of this, you need to weigh up if the addtional discount by going dealer finance outweighs the additional intrest you may pay. If you need to borrow, I would get a personal loan, its not tied against the car and if your circumstances change then you can sell the car without having to settle the finance, also loans tend to work out cheaper and have no admin charges. I ignore the flat rate and look at the APR, also see exactly how much you intend to pay in intrest, the less the better and don't go for a term longer than you intend to keep the car.