Need £11,000 loan for a car

sparklygemster

ILW wrote: »

I am truly surprised that they are classed as extras on a £20k car.

For the manual Seat Leon FR it is around £18.500 (dont quote me on that price) BUT!!!! for the Seat Leon FR DSG is £19.500!!! (again dont quote me on the price) but that is an estimate on the price difference.

dgl1001

sparklygemster wrote: »

For everyone having a dig....we are trying to get the best version of this...

it is a VW golf gti under the tin, so it wont break! And there are 58 plate ones for 15.5k on low miles, but mostly diesel.

The only thing different is the bodywork.

If you do a search for a VW Golf GTI compared to the Seat Leon FR.....you will find it is the same engine, but to go for the Seat rather than the VW IS MONEY SAVING!!!

im not sure this is money saving - depreciation, depreciation, depreciation

LilacPixie

Firstly 20k for a car that will depreciate as soon as it leaves the forcourt is madness.

Secondly buying a leon FR is double madness. Firstly the build quality is shocking, very plasticy power wise it isn't anything special and considering it is apparently putting out 211 downright sluggish.

Thirdly the 'technology pack' is front parking sensors a diffrent stereo and blue headlight blubs.

My advice is avoid like the plauge. If you want a loan go see your bank as they know you best. For 20k I would rather buy a 2008 evo or if it had to be new buying the clio renaultsport which is a quicker, more agile and far superior car to the Leon FR.

Technically if you could 'afford' the car you would have 20k cash to put down now, the reason you need finance is because you can't afford it.

ILW

sparklygemster wrote: »

it is a VW golf gti under the tin, so it wont break! And there are 58 plate ones for 15.5k on low miles, but mostly diesel.

The only thing different is the bodywork.

If you do a search for a VW Golf GTI compared to the Seat Leon FR.....you will find it is the same engine, but to go for the Seat rather than the VW IS MONEY SAVING!!!

It is VW parts BUT assembled by Spaniards with dire UK back up. There is a good reason a Golf GTi holds its value and a Seat does not. If you were thinking of a cash buy for a few years of fun and then virtually dump it fine. If you want to pay over 5 years go for a 6 month old Golf.

MORPH3US

OP, hope I don't upset you because this is not about your loan options, but it might save you some money....

Have you looked at cheaper options for the car you want:

Just from a quick search, brand new factory orders:

New Leon FR 2.0 TSI 211ps - £16,629

New Leon FR 2.0 TSI 211ps DSG - £17,816

Hope this helps....?

LeeSouthEast

sparklygemster wrote: »

and whats to say hes going to crash it.....hes not a typical boy racer, can afford the insurance for anything, just prefers this!!!!

Are you saying then he is an atypical boy racer, or he isn't a boy racer at all? It takes two to crash (generally speaking), and only one of those (generally speaking), will be at fault. To crash does not mean your boyfriend did anything wrong but it still results in the car being written off, and my post standing as accurate.

I give up with this thread. You're not listening. Barclays Plus loan is 8% if I recall correctly.

digitalphase

IMHO your boyfriend would be better off going for the Golf GTi as that won't fall apart. The Seat's are really shabby in comparison - we test drove some recently and the Seat's are pants in comparison.

I know you're not after advice on what car to get, but some people have offered really good advice, so you should at least relay this to your boyfriend to make sure he really knows what he is getting himself into.

If he still wants to proceed with it after knowing the true cost of the depreciation and that he can get something really good with his £9k and not pay any interest (he's very lucky! Well done on him for saving whilst at Uni, I just got debts), then good luck to him.

It's his money so at the end of the day, it's his choice.

Regarding the loan, first port of call should be his bank, then maybe Tesco or Sainsbury's.

dfh

sparklygemster wrote: »

Hi all

We need an £11,000 loan for a car, are putting a £9,000 deposit on it, just need something to cover the rest.

Seat (who we are getting the car from) are quoting us 10.9% APR....anyone know where we can get something cheaper?

Thanks in advance

:beer:

I don't think an APR of 10.9% is bad.problem is for lower APR's usually the loan amount neds to be higher ! Do you want to try your bank? When I needed a loan,First Direct did me a deal for 7.9%

ukclarkkent

i've just read this thread and can't believe how it turned out.

this could have been easily solved if someone had just told sparklygemster to take a look at the cards/loans tab at the top of the page. in there is a cheap loans section with a link to the best rates of loans depending on the amount of money you want to borrow.

i did that and got a tesco loan for the money i wanted at 8.0% within a week.

it really is that simples.

sparklygemster

I'm only doing this thread to try and help my boyfriend save money......I am suffering badly with depression and can not cope with all the negativity i am getting from this thread.

FORGET I SAID WHAT CAR WE WANT

AS I HAVE SAID BEFORE.....ALL I WANT TO KNOW IS CAN WE GET A BETTER LOAN THAN THE 10.9% WE CAN GET FROM SEAT!!!

FGS ITS NOT AN IMPOSSIBLE QUESTION!!!!