59K Car Loan

Steve_Harrison

Hi, I want to borrow 59K to buy a car. I have had two quotes. One from my back where i pay back over 6 years and the total cost equals £76608. The second from the car dealer works out at £1014 for 42 months and a baloon at the end of £25750, therefore the cost to borrow is £68338. Can anyone please help me out please as i am not experainced at taking loans out.

Many thansk!!!

dmg24

If you have to borrow £59K to buy a car, then you should go for a cheaper one that you can actually afford.

System

59k for a car ! whats so special about this car is it made of gold ?

dipsy

Hes having a laugh!!!!!

Anyone that can spend 59k on a car isn't going to need help to work out the best option..... I would think they have enough between their ears to work it out for themselves

Can we see what the car is....... oh and can I borrow it whatever it is :-)

malestrom07

58K for a car, well I hope it's a classic. Have you looked at the depreciation of that model. I thought 16k was lavish 17 months ago. I'd be lucky to get 12k now, that really hurts. But 58k costing 76k factor in depreciation and insurance. OUCH that really hurts ....

mountainchrisriver

I know it says "Pls be nice to all MoneySavers." but borrowing £59k for a car means he ain't a moneysaver... so can I say the word f**kwit!!:p

bigstevex

I don't understand some people, they asked for advice, NOT abuse!

So they can afford a car for 59K wow, they just want the best deal, no one knows nothing about the person so how can you all prejudge them!

dmg24

bigstevex wrote: »

I don't understand some people, they asked for advice, NOT abuse!

So they can afford a car for 59K wow, they just want the best deal, no one knows nothing about the person so how can you all prejudge them!

The OP has got quotes. Therefore he just needs to decide which he can afford. Not a lot else left to say (except for, what the hell is anyone doing spending that kind of money on a car?).

BorisTheSpider_3

dmg24 wrote: »

The OP has got quotes. Therefore he just needs to decide which he can afford. Not a lot else left to say.

I think there is, namely isn't there something wrong with borrowing 59k to buy a car when you can't even understand the difference between two loan quotations

walkie

Think about depreciation over 6 years, and the amount your paying the banks back, could be looking at loosing double that figure over that amount of time!!

petermb_2

please guys. Just because a guy can afford payments on a £59k car does not mean that he has to be financially astute re payments. I have known scrap metal merchants who could neither read or write but they knew how to make money.