Need £11,000 loan for a car

Pricy147

digitalphase wrote: »

That is exactly what I want to know, but think the OP won't be returning to answer.

I have a feeling her BF saved up his student loan.... I really don't see how anyone can save £21k whilst being a student... If they can, there is something very odd about it... (not too jealous though :D)

Easily achievable with just a small starting float (say £100).

Just look at the gambling introductory loopholes thread - starter guides.

Cant be bothered to explain here as its all there.

Anyway, back on topic.

I'm probably going to get slated more than the OP, but I'm also about to order a new car (in Oct for March 1st delivery). Its the new Audi TT RS, and Im looking to part finance.

Looking at either 15 or 20k finance over 2 to 3 years. Audi have quoted a 5% flat rate with overpayments / early settlement allowed without fees.

Looking at market rates (in APR) they tend to start around 8%. So 5% flat is a round 9.3% APR over 3 years which seems reasonable.

A mate who works for Peugeot as a sales rep recons they buy in @ ~3.99%, and sell on for 5% with the margin as their markup. So possibly room for negotiation.

Anyway......

Im now thinking about options to finance using credit cards (which I have done in the past). Not so many opportunities as there used to be, but should still be far chaeper than a loan. The way I used to do this was arrange for an 'Offset Loan' and balance transfer introductory rates to a current account (which offsets the loan). CCs will often be 0% or perhaps 1.9% etc, thus making the loan interest free.

I used to use Inteligent Finance for this - and previously paid about £200 interest on a £15k loan over 5 years.

Problem is - they dont seem to offer it any more. Anyone aware of other good companies offering offsets? Im also thinking that loading my Egg Money card with say £20k from the loan and paying for the car this way would result in 1% cashback too.

Every little helps (and yes I know its money down the pan, depreciation, etc, etc), but you only live once.

Things go wrong - I sell it, and have a large equity anyway so would not be in Neg. Eq.

So - any good tips for offset loans, or alternatives to financing?

Thx

ILW

I believe the residuals on Audis are very good.

Pricy147

they are, especially TTs. Used to have a lower spec version.

Having checked on google - I will need to check with Audi on this 'Rule 78' regarding early settlements. I recall being stung years ago when young and nieve regarding car finance.

Offset loan route is looking best option if I can find a provider. Already have my Virgin 0% No fee card raring to go.....

The other thing Im trying not to get stung by is the VAT increase due at the end of the year

dfh

Pricy147 wrote: »

Easily achievable with just a small starting float (say £100).

Just look at the gambling introductory loopholes thread - starter guides.

Cant be bothered to explain here as its all there.

Anyway, back on topic.

I'm probably going to get slated more than the OP, but I'm also about to order a new car (in Oct for March 1st delivery). Its the new Audi TT RS, and Im looking to part finance.

Looking at either 15 or 20k finance over 2 to 3 years. Audi have quoted a 5% flat rate with overpayments / early settlement allowed without fees.

Looking at market rates (in APR) they tend to start around 8%. So 5% flat is a round 9.3% APR over 3 years which seems reasonable.

A mate who works for Peugeot as a sales rep recons they buy in @ ~3.99%, and sell on for 5% with the margin as their markup. So possibly room for negotiation.

Anyway......

Im now thinking about options to finance using credit cards (which I have done in the past). Not so many opportunities as there used to be, but should still be far chaeper than a loan. The way I used to do this was arrange for an 'Offset Loan' and balance transfer introductory rates to a current account (which offsets the loan). CCs will often be 0% or perhaps 1.9% etc, thus making the loan interest free.

I used to use Inteligent Finance for this - and previously paid about £200 interest on a £15k loan over 5 years.

Problem is - they dont seem to offer it any more. Anyone aware of other good companies offering offsets? Im also thinking that loading my Egg Money card with say £20k from the loan and paying for the car this way would result in 1% cashback too.

Every little helps (and yes I know its money down the pan, depreciation, etc, etc), but you only live once.

Things go wrong - I sell it, and have a large equity anyway so would not be in Neg. Eq.

So - any good tips for offset loans, or alternatives to financing?

Thx

What? How dare you waste money by taking out a car loan.You obviously cannot afford it if you are taking out a loan.This is not money saving.Sorry-didnt mean to be rude. just wanted to hold a mirror to some of the posts here.

Gillianh2

Inactive wrote: »

He isn't witty, his script writer may well be, he is a plonker.;)

He has written several books and writes columns for several newspapers. I am quite sure that Top Gear and his comments are not scripted as he is often slated for his opnions. :A

Anyways lets agree to disagree I find him witty and amusing. Even the Lorry Driver "joke" and I feel I can comment on this as my Dad and Brother were/are Lorry Drivers and they didnt take offence :rotfl::rotfl:

ILW

Gillianh2 wrote: »

Anyways lets agree to disagree I find him witty and amusing. Even the Lorry Driver "joke" and I feel I can comment on this as my Dad and Brother were/are Lorry Drivers and they didnt take offence :rotfl::rotfl:

Do they rape any prostitutes though?

RICK..._2

Yawnnnn.............

Inactive

ILW wrote: »

Do they rape any prostitutes though?

Typical of the plonkers sad pathetic, so called humour.

:rolleyes:

davetrousers

I saw a Red Seat Leon FR yesterday, didn't look anything special at all!

gerkin

davetrousers wrote: »

I saw a Red Seat Leon FR yesterday, didn't look anything special at all!

It needs to be Yellow in colour and also have a technology pack.