Direct from Dealer?

lucy_w86

I am looking into a car and I would like a Renault Clio.

Is it better to get a used car directly from Renault on finance or to use on the the companies quoted by Martin?

Anyone give me advice based on previous experience?

Rafter

Lucy,

All depends on the deal. Always ask to check the APR - don't rely on the 'finance charge' quoted by the dealer which can be misleading.

If your credit rating is OK you should pay no more than 7% for a loan at the moment and may be able to do even better by following some of the tips on this site.

Personally if you are buying nearly new with warranty still outstanding then I would look for a private vehicle and then get it checked by a car friendly friend or the AA/RAC. It will be cheaper than paying a big fat margin to a car dealer.

A car supermarket might be a good bet if you aren't too fusy about exact model.

Parkers.co.uk is a useful site for giving you an idea of the price you should expect to pay. Doesn't hurt to haggle though and beware extended warranties or payment protection insurance - they are often overpriced.

Good luck.

R.

nomoneytoday

Go for the cheapest APR and the lowest Total cost

Some dealers will be uneconomical with the truth and quote the "flat rate" instead of the APR. Ignore this figure

joeblack066

Hi Lucy, you have said in other threads that you are being turned down for a personal loan. Does this mean that you have debt already, and if so, are you managing it all right? Be very careful before you commit yourself to motor finance, and make sure that you can really afford it. It's expensive, both on a monthly basis and the total amount. A friend of mine ended up paying £12k for a V reg Clio through Yes Car Credit a coupla years ago. Not worth it!!!

lucy_w86

I am unable to get a loan due to poor credit rating. This is due to too many loan applications which I didn't realise would affect my score until I saw my report.

Therefore, how can I go about getting money for a new car? I would like something reasonably soon and dont want to wait 12 months for my credit score to improve and the past applications to disappear.

I am not in debt, I have one credit card which I make regular payments to. I have an overdraft which I rarely go into and thats it! I have looked at my finances and can afford it!

joeblack066

Sounds good then!!Just make sure you read the small print lol!!