Car Hire Purchase

Japtastic

Any one used http://www.finance4cars.co.uk/

From a quick search they are offering 6.4% rather than the usual 9.9%

Just wondering if there is a reason why?

Thanks

SimbaSimon

Japtastic wrote: »

Any one used http://www.finance4cars.co.uk/

From a quick search they are offering 6.4% rather than the usual 9.9%

Just wondering if there is a reason why?

Thanks

By the looks of it you have to buy the car from them, having a quick look at their models they are well over RRP so the the loan is already built into the price slightly. I'd avoid.

Japtastic

SimbaK2K wrote: »

By the looks of it you have to buy the car from them, having a quick look at their models they are well over RRP so the the loan is already built into the price slightly. I'd avoid.

Isn't that what you would do with any of the internet brokers? What is the harm in buying direct from them anyway?

The model I'm looking at is priced the same as all the other sites at 9-11%

CLAPTON

Japtastic wrote: »

Isn't that what you would do with any of the internet brokers? What is the harm in buying direct from them anyway?

The model I'm looking at is priced the same as all the other sites at 9-11%

quote 2 or 3 examples

Japtastic

Audi £22745
finance4cars £21230
Autobytel £21680
cars2buy comparison website best price £20999
oneswoop comparison website best price £21567

R0bert_Sterling

Japtastic wrote: »

Audi £22745
finance4cars £21230
Autobytel £21680
cars2buy comparison website best price £20999
oneswoop comparison website best price £21567

That narrows it down a treat!!!

An Audi what???

Japtastic

The model doesn't matter, the comparisons showing they are priced competitively does.

So any way, can any one add anything constructive or any other reason why I shouldn't use them?

R0bert_Sterling

Japtastic wrote: »

The model doesn't matter, the comparisons showing they are priced competitively does.

You could have just made up any old random numbers.

If you want constructive advice, give people something to run with!

Give some examples of what you are looking for, you come across as a spammer.

Japtastic

Why would I make up numbers????

This site used to be a lot more friendly, it seems that there is this big fear of trolls and spammers, is it really that bad? Just a quick browse through the site and people are being accused of it and having to prove they are not by scanning in documents etc, have these forums become a victim of their own success, certainly seems so.

Not that it matters on my original question but... The model Audi A3 Hatchback Black Edition Manual 170BHP Diesel.

The main question was whether any one has used finanace4cars or had any thing negative to add about their service or glaringly obvious that I had missed on why the HP deals are 3-4% cheaper than other brokers.

BenL

Its the small print as ever.

They are offering "from 6.4%"

Quotations are free. However, all applicants for credit will be charged a broker fee before being introduced to a lender. This fee will be discussed and agreed at the point of sale, typically 1.75% of the amount borrowed.

So 1.75% of the £18,800 financed amount is £329 before they offer you out to any lenders who can then offer you any apr they want.

These broker firms that charge £50 have been getting a hammering recently and this is a lot more than that.

As they don't use the key phrase "typical apr of 6.4%" they are not tied to having to give 66% of approved applicants that rate.


Edit: saying that they also say the rate they quote on screen is the rate you get.

but then again it says later "The prices quoted on the Company’s website are illustrative only and do not constitute a quote or an offer of finance"

If you have £329 that can afford to lose or know how to keep this firm to their offer it maybe worth a go

Japtastic

BenL wrote: »

Its the small print as ever.

They are offering "from 6.4%"

Quotations are free. However, all applicants for credit will be charged a broker fee before being introduced to a lender. This fee will be discussed and agreed at the point of sale, typically 1.75% of the amount borrowed.

So 1.75% of the £18,800 financed amount is £329 before they offer you out to any lenders who can then offer you any apr they want.

These broker firms that charge £50 have been getting a hammering recently and this is a lot more than that.

As they don't use the key phrase "typical apr of 6.4%" they are not tied to having to give 66% of approved applicants that rate.


Edit: saying that they also say the rate they quote on screen is the rate you get.

but then again it says later "The prices quoted on the Company’s website are illustrative only and do not constitute a quote or an offer of finance"

If you have £329 that can afford to lose or know how to keep this firm to their offer it maybe worth a go

Thanks for your input, I have been in touch via email and phone and they have confirmed by email that the APR is fixed at 6.4% and if refused the arrangement fee is returned.