What are the best places /types of Car Finance Deals?

harrypotterfan

We have baby number four on the way, so I'm looking to part-ex my current car in for a seven seater (e.g. Vauxhall Zafira, Renault Grand Scenic...).

I don't want a brand new one, but I'll still need some sort of finance deal to get it. Can anyone give me a bit of advice? I've no idea where the best places are to go for a finance deal and what types are best to go for (hire purchase/lease?).

I don't want to get ripped off and I need somewhere that will do finance on a car that might be three of four years old. Plus I'm not sure what the legal side of it is - e.g. if I take a deal over five years, say, and the car is kaput after three, what would happen?

Once again, your help and advice would be very much appreciated!

:rotfl:

zeon999

Depends on what sort of money you want to spend, often a bank loan is cheaper than interest rates on HP deals, leasing is good if you want a new car and want to keep replacing them every few years but otherwise don't see the point.

forgotmyname

The only thing that lasts forever on a car " The Finance "

If you buy the car on a 5 year loan and it breaks down after 3 years you have to struggle to find the money to repay the loan and find money to fix the car.

The car will be fairly old by the time your near the end of the loan, At least 6 years, Possibly 8+

Its best not to have a loan for a car.. Save what you can and use that. If you cant afford to save then you probably cant afford to have finance.

scotsbob

If you have to borrow the money then a bank loan will usually be the cheapest option. Hire purchase or a loan arranged through a dealership or finance company will be the most expensive.
Never take a loan over a period longer than you intend to keep the car.

gilbert_and_sullivan

4 children?

The last thing you need is finance.

Buy Within Your Means should be in bold letters at the top of every page of the motoring forum.

harrypotterfan

Thanks for the advice - much appreciated.

gilbert and sullivan - I'm just after a bit of advice with a car purchase, not a comment on what I should and shouldn't spend given the amount of children I have. It must be so fulfilling to be able to write such helpful posts.

mikey72

I've an eight year old zafira A with nearly 100,000 miles on it now.
Good 7 seater, it's cost nothing to run, apart from wear and tear items, and petrol, as the economy isn't great.
Better car than the Zafira B, (apart from the mpg), and wouldn't cost a fortune on a bank loan if you needed one.