best finance?

ACID

hi there im new to the finance deals that are available

ideally i dont wish to give a lump sum of my savings for a car..so a finance deal which i can pay back isntantly makes sense

however where do i go? im def avoid the ones available at car supermarkets as there interest rate are very high..

any ideas?

sorry to start another thread but this was a compeltely different topic.

thanks in advance.

BigSpender2_2

I think bank loans are probably cheapest, although I suppose how much you want to borrow and for how long?

thescouselander

I always go for a personal loan (non secured) - rates used to be reasonable but I'm not sure what its like now with the credit crunch etc. I currently pay 6% on my loan.

AdrianHi

I guess it depends on where your savings are.
If in the building society / bank savings account the loan interest will cost you more than you make on the savings interest, so use your cash to pay for the car.
If in stocks/shares/ISA taking your money out right now might not be a good idea. Either the stock market will recover and your savings will grow well in the next few years or we'll all be broke for even longer so it doesn't matter anyway. So in this case you may win by taking finance. 7.9% APR (approx. 4% flat rate) is about as good as it gets.
... or hedge your bets and go 50% cash, 50% finance.