Part Exchanging a car with outstanding finance?

TradePro

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.

chokolat2

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

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