hyundai pcp finance?

mutty_hc

hi guys,

thinking of doing a pcp finance deal on a hyundai i20, but whats worrying me is hyundais 18.9% apr on the deal which on a 6,995 car puts the repayments at £172 a month.

yet other car companies are offering stuff like 8.9%? why is hyundai so high or are the others misleading? can i use a separate finance company to get the finance and still do the car scrappage scheme with hyundai?

cirrus1007

I doubt it very much - they make money from the finance so will be unlikely to give you too much benefit.

stumpjumper120

most dealers have a minimum rate from the finance co and whatever they sell above that rate is commission.
if their base rate is 5% flat and your rate is 10% flat then the dealer is getting 5% profit of loan amount x years taken out.
£10000 borrowed over 5 years is £500 x 5 = huge profit
negotiate with them

andy-sally

I got quoted that APR on an i10 but when i said i would never pay that much APR they said straight away ok what about 12.7%, however i thought this was still outrageous so i shopped around and managed to get a FIAT 500 on 7% APR and with a final value twice as much as an i10 so it worked out in the end i got a more expensive car for about the same as an i10???