Best loan for buying a car?

airchie

I'm looking to borrow about £20k to buy a new car.

The website says my best bet is a flexible loan with goldfish at 6.9% but the website says 9.9%???

I'm confused.
Is it just that goldfish have upped their rate recently?
If so, are they still the best to go with?

Thanks in advance for any replies.

Regards,
airchie

airchie

No suggestions?

grumbler

Do you know why you don't have any replies?

Because it is absolutely clear for everybody here that it is a bad idea to get into £20K :eek: debt to buy a new car. If you haven't saved enough to pay cash, look for something more affordable ...

P.S. Sorry if I sound a little rude ...

airchie

grumbler wrote:

P.S. Sorry if I sound a little rude ...

Not at all, I'm just glad someone replied!

I do like the thought of saving money but I do also like new cars.

Surely the advice is that debt isn't bad, bad debt is bad?
So I just want to make sure I get the best loan I can for it.

Anyone know why the goldfish loan that's recommended on the site is saying a different % than the one on the actual goldfish site?
Is the goldfish loan still the best flexible loan to go for?

Thanks in advance for any replies.

illmonkey

If he wants to get a new car, let him. Personnal, i will not buy (again) a brand new car, but this could be for a car thats a year old etc.

I got 6.9% from natwest (my bank) and 7.9% from Egg.

Best bet is to use some websites to do it for you, check out:
http://www.autotrader.co.uk/CARS/motoring/fin/finance-centre.jsp
and
https://www.moneysupermarket.com

johannamse

If flexibility is really important to you Egg and Cahoot always get good feedback. You may have to give up a little % for more flexibility.

airchie

Thanks for the replies.
I'll check out money supermarket and the other link.

What's the things I need to be looking out for?
Obviously %, but what's the other things they catch you with?
Early pay-off penalties etc...

Thanks again.