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Car loan

HI,
I am looking at purchasing a 2 year old car, however my funds wont be in place for 4-6 weeks.
A reputable large franchise dealer has offered me the following deal.
Car price £14000.00.
If i sign up to a loan for this amount over 60 months, that they will pay the first 3 months payments, approx £900, by which time my funds will be available to pay off the loan in full, plus a £10.00 charge to end early.
This way i save a little on the car that i want and they get a fee from the finance company.
Your thoughts please


Confused!

Comments

  • Buy a 3 year old car and save a lot more :)
  • DCFC79
    DCFC79 Posts: 40,610 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    £14k for a 2 year old car, save half of that amount and use whats left to buy a 2 year old car.
  • Wait for 4-6 weeks and then buy the car.

    But in that time, you will have changed your mind two or three times about what sort of car you want to buy and how much you want to pay.

    If you go through with the plan you outline, by the time you can afford to pay the loan off, the novelty of the car will have worn off.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
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