Finance how did you pay - Cash or Finance

dsmilie432 · 21st April 2007, 11:21

How many new civic owners have used Honda Finance to buy their car?

Is cash with no part-ex a better option to get the best deal?

Any comments

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.

madasadad · 21st April 2007, 12:26

I'd say take a personal loan, interest rates more favourable. Also you will be able to negotiate a better deal with cash. I managed about 10% discount on my deal. I have taken almost almost all personal loans through Alliance and Leicester, easy to deal with, very little paperwork.

THX1138 · 21st April 2007, 12:38

About 15% cash, 10% residual value of trade-in after previous-finance debt deduction, and the rest was financed again.
It's even more expensive then my house how, but I figured, if I can manage it now might as well do it. Perhaps I won't be able to manage in a few years.

Adambsmith · 21st April 2007, 15:07

I used Honda Finance for the contract hire of my Civic.

They just about matched the quote my girlfriend obtained from her employer's scheme which was extremely competitive.

Jobo · 21st April 2007, 21:40

I also used Honda Finance and managed to get a really good deal.

gordonh · 21st April 2007, 22:16

I paid cash with part exchange although I didn't accept the dealers original offer on the trade in. To get round the problem they did increase it but it was shown as a discount on the purchase. They did try and persaude me to take finance with all the usual arguments although only referred to the base rate rather than the APR. It was quite obvious that this as well as the gap insurance and 7 day drive away insurance is all about sales targets and commission and very little to do with customer satisfaction. If I had finance I would always go for a Bank personal loan

mattfog · 22nd April 2007, 04:41

A mixture of part-ex, cash and personal finance for me. As mentioned above, a personal loan is not tied to the car - allowing greater flexibility and often (in the absence of 0% deals) a lower interest rate. Very happy with my loan agreement (with MoneyBack Bank, a subsidiary of Alliance & Leicester).

sco77harris · 22nd April 2007, 11:32

thefireflies · 22nd April 2007, 12:03

My Civic's still on order, so haven't totally decided as yet. Will either be:
1) My Cash + Personal loan or 2) My Cash + Parents Cash

Finance offered by my dealer was £500 deposit + £4000 cash + £499/month over 40 weeks = £24460 = almost £5000 interest

A Personal loan over the same period = approx interest £1500
Could probably manage to pay this over a shorter period and get down to under a £1000

So Honda finace looks a complete rip off

Obo · 22nd April 2007, 16:04

Dealer's offered 7575 for my Focus ST170 the rest will be my own hard-earned... I was brought up to believe finance is the spawn of the devil LOL and if you cant afford something yourself you dont have it you just covet everyone elses! Apart from my mortgage I've never owed anything to anyone

Adambsmith · 22nd April 2007, 16:09

I think you have to haggle to get the best from Honda Finance.

The dealer will always chance his arm at getting a punter locked into a high interest/long period deal. More brass for him innit?

You should haggle on everything with a dealer from the price of mats to the interest rate and period of the finance.

crazyjammer · 22nd April 2007, 17:29

I am looking at getting a Type S GT later this year. Some of you are saying that you managed to get some good offers. What sort of discount or price did you manage to achieve? And does anyone recommend the dealership they got there car from?

czechplastik · 22nd April 2007, 19:49

Cold hard cash, all in £5 notes, packed into briefcases.

Jobo · 22nd April 2007, 19:59

Quote:

Originally Posted by czechplastik

Cold hard cash, all in £5 notes, packed into briefcases.

mmw109 · 22nd April 2007, 20:01

cash + part ex, there go my savings

peter newton · 22nd April 2007, 21:58

Quote:

Originally Posted by dsmilie432

How many new civic owners have used Honda Finance to buy their car?

Is cash with no part-ex a better option to get the best deal?

Any comments

cash and old Citroen/ got a great deal on old car and new one,

I never take finance prefer to save up, takes me a long while,my next new car is at least 8 years away, so hope the honda does me proud,

mind you i hear you get great deals on finance also the sales people are more interested in selling people cars on finance,
they get extra commission from finance company's ,

i found that out when i told dealers it was cash and part exchange a lot of them seemed not that interested is selling us a car because they would not earn their commission.

richardc · 22nd April 2007, 23:05

Honda Finance here. Was offered a better deal than a loan.

romatic · 2nd May 2007, 12:02

Definitely cash, if you have it. Finance deals = usury.

apemonkeyman · 2nd May 2007, 12:22

Unsecured personal loan over 5 years = £100pm cheaper than leasing over 3 years, & the car is completely mine with nowt more to pay, so I can part-ex/sell it when I want.

I know part ex is convenient but why bother to shop around for the best deal for your new car & then part ex the old one? Seems like a bunch of effort goes into getting a good deal & then no effort goes into throwing away money on the part ex deal compared to selling privately... or am I missing the point here?

21st April 2007, 11:21	#1 (permalink)
dsmilie432 Valve Cap Join Date: 26th September 2006 Posts: 27 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	how did you pay - Cash or Finance How many new civic owners have used Honda Finance to buy their car? Is cash with no part-ex a better option to get the best deal? Any comments

21st April 2007, 15:07	#5 (permalink)
Adambsmith Valve Cap Join Date: 14th October 2006 Location: York Posts: 22 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	I used Honda Finance for the contract hire of my Civic. They just about matched the quote my girlfriend obtained from her employer's scheme which was extremely competitive. Last edited by Adambsmith; 22nd April 2007 at 07:13.

22nd April 2007, 17:29	#13 (permalink)
crazyjammer Valve Cap Join Date: 21st April 2007 Posts: 20 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	What offers are people getting?? I am looking at getting a Type S GT later this year. Some of you are saying that you managed to get some good offers. What sort of discount or price did you manage to achieve? And does anyone recommend the dealership they got there car from?

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads for: how did you pay - Cash or Finance
Thread	Thread Starter	Forum	Replies	Last Post
New Type S GT 1.8, Can do quick cash deal.	psykik	General commercial posts	8	27th January 2008 00:27
Finance Honda Finance Offer	Keasden	Buying, Dealers and Servicing	10	31st August 2007 14:50
Finance finance experince in birmingham	gb110430	Buying, Dealers and Servicing	3	18th February 2007 15:03
Finance Honda Finance	Lozza	Buying, Dealers and Servicing	24	14th February 2007 15:14
Dealers Help me spend my cash!	Nadz	Buying, Dealers and Servicing	14	6th February 2007 11:00


This thread is about: how did you pay - Cash or Finance, it's in Buying, Dealers and Servicing at the Honda Civic forum Civinfo; How many new civic owners have used Honda Finance to buy their car? Is cash with no part-ex a better option to get the best ...

21st April 2007, 11:28	#2 (permalink)
SteveTDCi Valve Cap Join Date: 7th December 2006 Posts: 24 Thanks: 0 Thanked 0 Times in 0 Posts 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.

21st April 2007, 12:26	#3 (permalink)
madasadad Supporter Triangular Exhaust Join Date: 21st February 2007 Location: Carrickfergus Posts: 272 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	I'd say take a personal loan, interest rates more favourable. Also you will be able to negotiate a better deal with cash. I managed about 10% discount on my deal. I have taken almost almost all personal loans through Alliance and Leicester, easy to deal with, very little paperwork.

21st April 2007, 12:38	#4 (permalink)
THX1138 Triangular Exhaust Join Date: 2nd March 2007 Location: Den Haag, The Netherlands Posts: 387 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	About 15% cash, 10% residual value of trade-in after previous-finance debt deduction, and the rest was financed again. It's even more expensive then my house how, but I figured, if I can manage it now might as well do it. Perhaps I won't be able to manage in a few years.

21st April 2007, 21:40	#6 (permalink)
Jobo Supporter Magic Rear Seat Join Date: 6th August 2006 Location: UK Posts: 683 Thanks: 0 Thanked 2 Times in 2 Posts iTrader: (0)	I also used Honda Finance and managed to get a really good deal.

21st April 2007, 22:16	#7 (permalink)
gordonh Valve Cap Join Date: 7th March 2007 Location: Drayton UK Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	I paid cash with part exchange although I didn't accept the dealers original offer on the trade in. To get round the problem they did increase it but it was shown as a discount on the purchase. They did try and persaude me to take finance with all the usual arguments although only referred to the base rate rather than the APR. It was quite obvious that this as well as the gap insurance and 7 day drive away insurance is all about sales targets and commission and very little to do with customer satisfaction. If I had finance I would always go for a Bank personal loan

22nd April 2007, 04:41	#8 (permalink)
mattfog Supporter Triangular Exhaust Join Date: 11th November 2006 Location: Mid Glamorgan Posts: 268 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	A mixture of part-ex, cash and personal finance for me. As mentioned above, a personal loan is not tied to the car - allowing greater flexibility and often (in the absence of 0% deals) a lower interest rate. Very happy with my loan agreement (with MoneyBack Bank, a subsidiary of Alliance & Leicester).

22nd April 2007, 11:32	#9 (permalink)
sco77harris Supporter Magic Rear Seat Join Date: 5th June 2006 Location: stanmore london Posts: 978 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	cash

22nd April 2007, 12:03	#10 (permalink)
thefireflies Supporter Valve Cap Join Date: 14th February 2007 Location: Basingstoke Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	My Civic's still on order, so haven't totally decided as yet. Will either be: 1) My Cash + Personal loan or 2) My Cash + Parents Cash Finance offered by my dealer was £500 deposit + £4000 cash + £499/month over 40 weeks = £24460 = almost £5000 interest A Personal loan over the same period = approx interest £1500 Could probably manage to pay this over a shorter period and get down to under a £1000 So Honda finace looks a complete rip off

22nd April 2007, 16:04	#11 (permalink)
Obo Rusty Nut! Magic Rear Seat Join Date: 15th March 2007 Location: Weston-super-Mare Posts: 615 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	Dealer's offered 7575 for my Focus ST170 the rest will be my own hard-earned... I was brought up to believe finance is the spawn of the devil LOL and if you cant afford something yourself you dont have it you just covet everyone elses! Apart from my mortgage I've never owed anything to anyone

22nd April 2007, 16:09	#12 (permalink)
Adambsmith Valve Cap Join Date: 14th October 2006 Location: York Posts: 22 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	I think you have to haggle to get the best from Honda Finance. The dealer will always chance his arm at getting a punter locked into a high interest/long period deal. More brass for him innit? You should haggle on everything with a dealer from the price of mats to the interest rate and period of the finance.

22nd April 2007, 19:49	#14 (permalink)
czechplastik King of the rodeo Civinfo guru Join Date: 24th October 2006 Location: Belfast Posts: 4,671 Thanks: 0 Thanked 1 Time in 1 Post iTrader: (0)	Cold hard cash, all in £5 notes, packed into briefcases.

22nd April 2007, 20:01	#16 (permalink)
mmw109 Valve Cap Join Date: 1st April 2007 Posts: 25 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	cash + part ex, there go my savings

22nd April 2007, 23:05	#18 (permalink)
richardc Wheelnut Join Date: 17th March 2007 Posts: 79 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	Honda Finance here. Was offered a better deal than a loan.

2nd May 2007, 12:02	#19 (permalink)
romatic Supporter Locking Wheelnut Join Date: 30th March 2007 Location: Glasgow Posts: 133 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	Definitely cash, if you have it. Finance deals = usury.

2nd May 2007, 12:22	#20 (permalink)
apemonkeyman Supporter Magic Rear Seat Join Date: 2nd February 2007 Location: Gloucester Posts: 665 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	Unsecured personal loan over 5 years = £100pm cheaper than leasing over 3 years, & the car is completely mine with nowt more to pay, so I can part-ex/sell it when I want. I know part ex is convenient but why bother to shop around for the best deal for your new car & then part ex the old one? Seems like a bunch of effort goes into getting a good deal & then no effort goes into throwing away money on the part ex deal compared to selling privately... or am I missing the point here?