car finance cash back

cb3dwa

been offered a finance deal of 350 a month with 130 a month cash back paid into my account same day as the finance comes out,

this is for 60 months and cash back is for a year, been told to finance next year to get payments down,

is this a good idea or has any one had a similar deal?

dave

CLAPTON

not enough details

how much are you borrowing?
whats the APR

what's your salary
what other debt do you have
what's your credit rating like

who's offering the cashback

lawrie28

I would avoid. How can they make money giving you £130 amonth back? Means they are overcharging for the reat of the finance to make money.

chalkie99

Total repayments £19440

I expect they are making plenty.

Depends on the vehicle.

lawrie28

chalkie99 wrote: »

I expect they are making plenty.

Thats my point. A loan with a decent rate would wipe out all profit with the rebate. Hence they overcharge you, give you alittle back in yr one, then coin it in in years 2,3,4 and 5,