Welcome car finance

james32_uk

Anyone any experience? What do you think? Any pitfalls to the way they do their business, (other than high interest rates). And why do they not price up their cars?

medman

It's a way of selling cars by hiding the true cost. I would avoid them unless you are desperate for finance. They ask you what you can afford each month and then show you the car you can afford. Very little info about the price of the car or the finance means the less well informed might think it's a good deal...it never is! You are far better off raising your finance separately and then purchasing your car as a cash buyer getting the price as low as you can. Avoiding "welcome" and "yes".

Good luck

MM

PS Always compare APR not flat rate interest (no matter what they say) and if your not sure look at the total amount repayable and go armed with a banks loan table for comparison.

james32_uk

Thats kind of what I thought. I'm guessing that because they dont put prices on their cars then the price will vary depending on the customer and although the finance is reasonable they make extra $$ on the car sales price.

rayday2

I went to Yes many years ago and there actual cars were not the best either there were cigrette holes in the seats and seemed to be ex sales men cars so quite high on mileage etc

We walked out when they could not talk about the car just the finance we went to buy a car using finance not buying finance and getting a car!

immoral_angeluk

We got our car from Carcraft through welcome car finance. Our APR is 24.1% and there was lots of extra bits added on and taken off and you really have to check everything carefully. Also make sure you read the small print as I remember something in ours stating that they hold the right to repossess the car even if you're late with one payment so check and double check everything. We got a Rover 25 Impression S, 1.4l, 03 reg with only 18000 miles on it and have no complaints about the car at all.
I wouldn't go to Welcome by choice but as we had nowhere else to turn we had to go through them as noone with lower APR's would accept us. AS long as you know where you stand with them you shouldn't have a problem.

chunky79

Many years ago i worked for a well known car sales company selling cars online and over the phone, i was very nieve and had no idea how very immoral this work is (reason i left). I was started as call centre supervisor so i oversaw the finace details we would fax to about 10 different finance companies and it was usually welcome that come back with their astronomical figures. All the numbers were fiddled by the managers as they knew full well that the people they were dealing with were desperate and needed a car and they got the fat bonus at the end of it. The higher the rate of ineterest they got out of the customer the fatter the bonus. If you haggle and say sorry thats higher than i would have liked they will come back with better figures a good 3 times. Maybe only a slight amount buts its better in your pocket than theirs.

The reason the cars are not priced is purely a con, as are most cars that are priced lol. It does depend on the customer and how much knowledge they have.