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Car Finance

Hello one and all,
Looking for tips,advice and or opinions on car financing. My partner is looking for a new car and was looking at buying via finance. Car advertised @ £2995 or £35 a week. (It's a 2004 vaxhaul corsa 1.3 deisel) Seems like a good deal utill you realise that £35 a week for 3 years = £5460, which to me seems rather excessive.

Any advice is welcomed

Cheers!!

Comments

  • MacMickster
    MacMickster Posts: 3,642 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I think that with an APR of over 50% it would be a good idea to give this particular bargain a miss.
    "When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson
  • Apples2
    Apples2 Posts: 6,442 Forumite
    You'd have to be of sectionable sanity to sign that.
  • cheers guys, just as i thought. As i'm not a driver and never had a loan in my life, can you give me some ideas as to where to look for reasonably priced finance??

    Thanks again
  • geoffky
    geoffky Posts: 6,835 Forumite
    PLEASE tell us it is not carcraft..who is it?
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • geoffky
    geoffky Posts: 6,835 Forumite
    Try your own bank first. please ask here again if you are stuck,we will try stopping you getting ripped off.
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • Buzby
    Buzby Posts: 8,275 Forumite
    Source the money separate from the purchase of the vehicle, this means the car is not placed on the HP! register, and you have a better stab at negotiating a cash discount. As with any loan, the FIRST thing you look at is the APR, and what the monthly (not weekly) payment will be.
  • not carcraft but thecarsalescompanybury who on their website claim to be a Low Rate Car Finance Specialist. Had the paperwork work thru and it seems there are PPI charges of approx £900, The whole thing is confusing to read at a glance lol. Savin our pennies now till can buy outright ourselves
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