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Part Exchanging a car with outstanding finance?

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Comments

  • TradePro
    TradePro Posts: 652 Forumite
    chokolat2 wrote: »
    We been to arnold Clarke today, had a look at 10 plate Fiesta price £6998.
    Gave us £5400 for current car to part exchange
    Eventually got the apr reduced to 8.8% and monthly payments of £162 for 60 months.
    We are paying £140 now, so not 100% sure we getting a good deal or not

    £162 p/m is a flat rate of around 5.5%, which usually means an APR of around 11/12% Chok, just be careful, they may be trying to diddle you.
    And that my son, is how to waft a towel!
  • chokolat2
    chokolat2 Posts: 438 Forumite
    TradePro wrote: »
    £162 p/m is a flat rate of around 5.5%, which usually means an APR of around 11/12% Chok, just be careful, they may be trying to diddle you.

    Yes exact our thoughts, so we going to shop around
  • TradePro
    TradePro Posts: 652 Forumite
    chokolat2 wrote: »
    Yes exact our thoughts, so we going to shop around

    If you can actually get an APR of around 8.8% I wouldn't bother messing around getting a separate loan, as previously said, but make sure the !!!!!!s don't try to trick you x
    And that my son, is how to waft a towel!
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