Car financing question
- Thread starter Dyson
- Start date
Was just reading through this thread again as I posted in here before I bought my car.
I ended up going with buying it outright, but in hindsight I do regret not opting for bank loan for example whilst the rates were low.
I think would just done half and half.
The independent dealer I bought from didn’t seem to offer any perks for PCP financing like deposit contribution. Which partially swayed me away from financing - as I understand PCP is generally better for newer cars anyway.
If I wasn’t thought things through a bit more, would’ve explored main dealer and got something a bit newer and see what perks I could get - was just put off by the list prices at face value
It’s nice knowing you don’t have any monthly payments to worry about but can’t help think the 15k I spent.
Would’ve been put to better use lumped elsewhere over the last year or so, like investing.
I am saving for a property so would’ve been smarter to add to my deposit fund.
But don’t see myself getting on the ladder within the next year anyway.
Thankfully I can’t say spending that has caused me financial headache. I do kinda cringe at the amount I spent whilst seeing financing talks online.
Live and you learn, don’t think we’ll see rates as low as that again anytime soon.
Think for my next car I’d probably lease, as I do get new car itch every so often. Part of me wants to sell even if I take a few grand loss and go lease something
I ended up going with buying it outright, but in hindsight I do regret not opting for bank loan for example whilst the rates were low.
I think would just done half and half.
The independent dealer I bought from didn’t seem to offer any perks for PCP financing like deposit contribution. Which partially swayed me away from financing - as I understand PCP is generally better for newer cars anyway.
If I wasn’t thought things through a bit more, would’ve explored main dealer and got something a bit newer and see what perks I could get - was just put off by the list prices at face value
It’s nice knowing you don’t have any monthly payments to worry about but can’t help think the 15k I spent.
Would’ve been put to better use lumped elsewhere over the last year or so, like investing.
I am saving for a property so would’ve been smarter to add to my deposit fund.
But don’t see myself getting on the ladder within the next year anyway.
Thankfully I can’t say spending that has caused me financial headache. I do kinda cringe at the amount I spent whilst seeing financing talks online.
Live and you learn, don’t think we’ll see rates as low as that again anytime soon.
Think for my next car I’d probably lease, as I do get new car itch every so often. Part of me wants to sell even if I take a few grand loss and go lease something
Associate
Some banks giving slightly more than this in interest, what a difference 18 months can make