Car Loan?

TurboMonkey · 2 Sep 2008 at 12:47

Who here has a car bought with a Bank loan or similar?

What do you pay a month and how long do you have to repay?

[TW]Fox · 2 Sep 2008 at 12:48

My car is on finance, I borrowed the full amount over 7 years and its about £130 a month.

Phate · 2 Sep 2008 at 12:49

I bought one once. Never again!

TurboMonkey · 2 Sep 2008 at 12:50

Nice, you must have got a good interest rate thats for sure!

Thanks. Hmm Ninja edit I think there.

Phate · 2 Sep 2008 at 12:51

WOOOOOOOOSH

TurboMonkey · 2 Sep 2008 at 12:54

Phate said:
WOOOOOOOOSH

Your a wotsit?!

oweneades · 2 Sep 2008 at 12:56

TurboMonkey said:
Your a wotsit?!

And again.....

theNude · 2 Sep 2008 at 12:57

always saved and paid cash - most expensive car ive bought was £2950 though lol.

Next car i will be getting an unsecured personal loan to purchase as i want somthing newer.

ci_newman · 2 Sep 2008 at 13:10

Who else thinks that TurboMonkey is trying to boost his post count??

Phate · 2 Sep 2008 at 13:12

ci_newman said:
Who else thinks that TurboMonkey is trying to boost his post count??

He's trying to catch Fox up!

loki101 · 2 Sep 2008 at 13:13

just go on a loan calculator website the, moneysupermarket has one i think.

TurboMonkey · 2 Sep 2008 at 13:15

oweneades said:
And again.....

Right, what have I missed then? I don't understand.

Third Opinion · 2 Sep 2008 at 13:15

Look at interest rates. Some finance deals work out quite good nowadays. Try not to take a loan for more than 3 years. Put the biggest deposit possible down.

stoofa · 2 Sep 2008 at 13:16

I hate paying interest - however if you want to borrow money then you've usualy got no choice.

My last two cars (before the one I bought a couple of weeks ago) were both on finance agreements with the manufacturer - Renault and then Peugeot.
I got good deals on both, quite low APR or I wouldn't have done it.

My mum was in the position to lend me the money I needed to add to my 307 to buy my vRS a couple of weeks ago and she wouldn't dream of charging me any interest.
So this time certainly I'm OK as I've basically got an 8k interest free loan for the next 3-4 years.

Avalon · 2 Sep 2008 at 13:21

ci_newman said:
Who else thinks that TurboMonkey is trying to boost his post count??

+1

And yea I currently shell out £80 a month on car payments as I was impatient and having just cleared my graduate loan I wasn't going to wait 30 days for other funds to get moved across. Additional early repayment charge pretty much makes it not worth paying off being such a small ammount that i'd save over the full term of 24 months and the reasonable rate offered even though they did try to misrepresent the APR as the flat rate initially :confused:

Twentymac · 2 Sep 2008 at 13:35

Phate said:
He's trying to catch Fox up!

I thought we all were ?

Phate · 2 Sep 2008 at 13:38

Twentymac said:
I thought we all were ?

I have dreams, not ludicrous ambitions

Lord-Jaffa · 2 Sep 2008 at 14:30

Pay around 220 a month for my 2004 S2000, over 3 years.

agw_01 · 2 Sep 2008 at 14:33

[TW]Fox;12415559 said:
My car is on finance, I borrowed the full amount over 7 years and its about £130 a month.

I thought you bought your car outright Fox?

[TW]Fox · 2 Sep 2008 at 14:47

I was going to but Ocean Finance offered me an amazing deal.