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+--- Thread: Finance - Best Option (/Thread-Finance-Best-Option)
Finance - Best Option - bash18uk - 12-01-2012 01:52pm
Hi,
I take delivery next month and looking at options to finance my evoque. I am looking at a PCP and I did try Prestige car finance last month and there offer was quite competative at 7.9% but I didn't take up the offer as I wasn't taking delivery until Feb. However I have phoned them back to take up the offer and they have stated that their banks have put the percentages up and were quoting 9.1%! This has had a significant impact to my monthly payment which was initially £444 but has gone up to above £500+.
Anyway I have since tried other companies...brokers4cars who have offered 8.1% and think this prob the best i'm going to get.
Anyone know of any other companies to try that might be able to offer a better deal?
List Price - £38500 with £6500 deposit.
Any help would be greatly appreciated.
RE: Finance - Best Option - whizzer - 12-01-2012 03:06pm
pm sent
Finance - Best Option - PAT - 12-01-2012 03:13pm
I'm the exact same as I called Prestige this week and was told the same and the best deal I've come across is 8.1 as well so would be interested in any other suggestions
RE: Finance - Best Option - SW6RR - 12-01-2012 03:14pm
People have achieved 4-5% but that depends on personal circumstances. Try Oracle.
RE: Finance - Best Option - BOBM4N - 12-01-2012 03:18pm
any room on your mortgage? I guess that is a lower than 8.1%
RE: Finance - Best Option - GibEvoque - 12-01-2012 04:26pm
have you tried your own bank, I'm with HSBC and they are doing personal loands at 6.2%apr at the moment. mind you don't know if they do them for cars specifically, just noticed it when i logged into online banking.
RE: Finance - Best Option - j7david - 12-01-2012 07:05pm
Do a price comparison on personal loans to see if they work out cheaper for you. http://www.moneysavingexpert.com has a page with some useful info.
Finance - Best Option - Rossy100 - 12-01-2012 07:12pm
Personal loans are usually up to a max of £25k and so will only be possible if you can find difference in cash. The original poster would need another £7k to make this possible.
Having made some calls to some of the car finance brokers, it does seem that rates have increased to 9%+. If monthly payments are the key driver then it might actually end up being cheapest with LR finance..... As despite the 9.9% rate, their GFV is probably higher (which reduces payments). Obviously though a higher balloon has other connotations.
Broker4cars seemed to have the lowest rate on their website (8.1%) but who knows if the website is up to date..... And also bear in mind that they charge a brokerage fee which may negate the rate saving.
RE: Finance - Best Option - GibEvoque - 12-01-2012 08:11pm
could look at fluent money, they are meant to be pretty good.
RE: Finance - Best Option - LDT - 12-01-2012 09:12pm
You could try Adaptive Vehicle Solutions. Apparently they have provided good rates recently.
Good luck.