Car financing question

dLockers said:
5% is a terrible rate.
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Did I say it wasn't?
I said I usually use Zopa or similar. I last used Zopa 6 years ago for my current car so still have the app on my phone with current rates.
I then stated I got a lower rate than 10%.

I didn't say it was a good rate.
Id always use comparison sites to find the best deal, turned out Zopa was 5 years ago.
 
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Sirrel Squirrel said:
Not sure if it helps or not but Toyota and Lexus do 4.9% on used cars if you can't get a loan for a better rate.
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Careful with such suggestions, someone will be along shortly to flex and tell us that you have failed at life if you can't get at least 0% loans from financial institutions for a second hand car purchase. Such is the way of these threads.
 
naefeart said:
Careful with such suggestions, someone will be along shortly to flex and tell us that you have failed at life if you can't get at least 0% loans from financial institutions for a second hand car purchase. Such is the way of these threads.
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They pay me to use their money and I get a Learjet thrown in.




And a boat





Big one, with a BBQ and pool on the back
 
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HoneyBadger said:
Im not.

How else will you learn to control money and increase your credit score? Keep going. With time, effort and a lot of luck you may one day be able to afford the fast one. ;)
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Aspirational Chrysler 300c owner right here. If only I could find one who'd accept my poor man's Merc :(
 
If I had £10K available for a car purchase I'd just buy something used for the £10K and live free of monthly payments and being a slave to debt. Maybe I'm just old fashioned.
 
Anyone gone down the loan route?
Usually one to buy outright.

Thinking of doing half and half, half cash and finance rest.

Cars about 16.5K thanks to inflated post prices, didn’t plan to spend that much but had my eye on this particular car I’ve seen for a while.

Planning to put 8k up maybe and finance the rest, looked online cheapest rate - although not guaranteed is 2.9% for about 8-9K.

Could raid my savings and put the whole 16.5K up but rather not personally.
If was a few grand cheaper I would’ve.
 
Mr_Cool said:
Anyone gone down the loan route?
Usually one to buy outright.

Thinking of doing half and half, half cash and finance rest.

Cars about 16.5K thanks to inflated post prices, didn’t plan to spend that much but had my eye on this particular car I’ve seen for a while.

Planning to put 8k up maybe and finance the rest, looked online cheapest rate - although not guaranteed is 2.9% for about 8-9K.

Could raid my savings and put the whole 16.5K up but rather not personally.
If was a few grand cheaper I would’ve.
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Yeah lots of folk on here. ChrisD just did a post about another hybrid approach where you can get a loan against a 0% balance transfer card too.
 
SkodaMart said:
Comments like that are taboo in motors.
It’s the sort of thing I would say.
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It is a fair comment, and a lot can be said about owning the car in full.


It’s nice to not have a debt hanging over you.


Owned my first car in full but everything since has been part cash part loan. I don’t mind, as I’ve owned a couple of nice vehicles but as I say, it is nice to know you own it.
 
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