Ways To Pay For My New Car?

[2L84SLEEP]

Hi folks

I am hopefully looking at getting a Ford Focus today, seen quite a good one for £5.4k. Now I have this amount of money saved up but would prefer to pay maybe half just now and the rest via a loan, if I paid the whole thing straight out I feel I would be leaving myself a bit short!

I was just wondering if anyone could recommend who to go for a loan with and if there is anything I should be watching out for? I have heard some people talk about GAP(sp?) insurance but am not fully clued up on this.

Any help would be appreciated

Thanks

 

[The_Dark_Side]

Hi folks

I am hopefully looking at getting a Ford Focus today, seen quite a good one for £5.4k. Now I have this amount of money saved up but would prefer to pay maybe half just now and the rest via a loan, if I paid the whole thing straight out I feel I would be leaving myself a bit short!

I was just wondering if anyone could recommend who to go for a loan with and if there is anything I should be watching out for? I have heard some people talk about GAP(sp?) insurance but am not fully clued up on this.

Any help would be appreciated

Thanks

can you post the firgures you're looking to be paying please?
ie. how much deposit and how much per month in total?

 

[2L84SLEEP]

Looking at putting down £2.5k and the rest a loan over 2 or 3 years, working out about 100 a month I think.

Thanks

 

[The_Dark_Side]

Looking at putting down £2.5k and the rest a loan over 2 or 3 years, working out about 100 a month I think.

Thanks

here's a sidenote for you.
not what you're looking for i know but Ford are doing similar deals.
Renault are offering a 1.5d Megane brand new for:-
£159 deposit.
£159 per month for 3 years followed by
£3300 one off payment.

so, you could whack your £5.5k in the bank in a high interest long term account, make the payments as you would normally then after the three years take out your £5.5k (which is now probably £6k) and pay the vehicle off...leaving you with a few thousand pounds.