Best way to pay for an expensive car.

radderfire said:
The one exception I would make to not borrowing money, is for a mortgage, but this is mainly due to the ridiculous price of housing.
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I puts cars in the same category, although each purchase varies depending on the circumstances.

I bought a brand new Insignia once on 0% finance because the idea of saving up that amount of money and then dropping it all on one thing feels abhorrent. Obviously you're doing the same thing in the long term, but having the savings sat in the backround is a much more comfortable feeling.
 
Penfold101 said:
Savings are whatever you want them to be for. No wonder you're so into crypto when you trash the banking system in every post...:cry:
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I just think I'm giving the OP good advice. If you can't afford an expensive car, don't buy it on credit, just buy a cheaper car you can afford. Don't live beyond your means and you will never have a problem with debt.
 
radderfire said:
I just think I'm giving the OP good advice. If you can't afford an expensive car, don't buy it on credit, just buy a cheaper car you can afford. Don't live beyond your means and you will never have a problem with debt.
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'Afford' is a relative term. Whether that means doing it in a lump sum or with monthly payments is purely down to the individual and how they want to live their life.
 
Penfold101 said:
Savings are whatever you want them to be for. No wonder you're so into crypto when you trash the banking system in every post...:cry:
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The reason I don't like the banking sector is it's fundamentally exploitative. It's taking advantage of people. Money has also been corrupted. This is what got me into Bitcoin. Bitcoin isn't without it's issues, but it's better than the current banking system.
 
If you have enough cash to buy it outright, see if the dealer offers any kind of finance.

Usually the dealers get good commission on finance deals, and you can use it as a bargaining tool to get a reduced cash price.

Then once you've bought it, cancel the finance agreement within 14 days, you'll need to pay the cash price up front but it otherwise won't cost you a penny, and you might have landed yourself a bit of a discount for free
 
BUDFORCE said:
Then once you've bought it, cancel the finance agreement within 14 days, you'll need to pay the cash price up front but it otherwise won't cost you a penny, and you might have landed yourself a bit of a discount for free
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This might work, but I don't think it's in the spirit of fair deal making.
 
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BUDFORCE said:
If you have enough cash to buy it outright, see if the dealer offers any kind of finance.

Usually the dealers get good commission on finance deals, and you can use it as a bargaining tool to get a reduced cash price.

Then once you've bought it, cancel the finance agreement within 14 days, you'll need to pay the cash price up front but it otherwise won't cost you a penny, and you might have landed yourself a bit of a discount for free
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I tried to do this a few months back and was told that the finance company wouldn’t allow immediate repayment. Whatever one it was was clamping down on the practice as they were forking out the commission to the dealers then losing out due to immediate payments a few days later.
 
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