Car loans

stuartjl

Hi, anyone had any experience with theses car finance sites like car loans 4 u. You buy a car from a registered dealer of there choice and under 5 years old. Anyone used them??

Stuart

mustang121

I don't trust any company that uses text speak to spell out its company name.

My personal opinion of car finance is that it’s a waste of money and time. I reckon people should just save up and buy what they can afford out right. Less worry and hassle. Which is why I only ever buy 5-6 year old cars.

If I were to consider car finance, then I think I wouldprefer to go through a reputable bank or a well-known car dealership.

Notmyrealname

Car finance is fine when done right and you can pay for a car over a few years and have it cost you very little, nothing at all or you can actually even make money out of it with a bit of clever credit card stoozing however as Mustang121 points out, you don't use a finance company who happen to sell cars.

BugsyBrowne

stuartjl wrote: »

Hi, anyone had any experience with theses car finance sites like car loans 4 u. You buy a car from a registered dealer of there choice and under 5 years old. Anyone used them??

Stuart

The only people who have experience in so called carloans4u are those who've been made £50-100 lighter in their bank accounts due to these type of companies asking for upfront fees for some bullsh*t they've made up.

forgotmyname

Registered dealer of their choice will be ones that have bought 7 year old cars from auction for £1500 or less and flog them to you for £3500+.

Then charge you an inflated interest rate on a loan.

So you get into debt for the sum of around £7000 for a car thats 7 years old and worth £1500. The even bigger gamble is will the car outlast the loan.

And the answer is usually no. Unless you put a LOT of money into it.

If you could afford to do that you should go and buy a new car for cash anyway.

stuartjl

Thanks all, will stay clear of these companies :money: