advice please

Stephb1986_2

Hi all basically whats happened is that i had a car crash and been waiting to be paid out for nearly 3 years it was promised for christmas just gone in november i ordered a new car which is coming in march. the money hasnt turned up and now i need to either

1. take a loan out and get my car

2. take finance out and pay it off when i get my money (might have extra charges because of it)

Which would be the best option for me as my car is costing £24000 and i dont really have that sort of money.

any advice appreciated should i get a loan or go for finance?

Many thanks

Steph x

tinkerbell84

240,000???

what are you buying? a ferrari??

Stephb1986_2

no 24 thousand lol i might have put a extra 0 in by accident

YorkshireBoy

£24,000???

what are you buying? a second hand ferrari??

tinkerbell84

Stephb1986 wrote: »

no 24 thousand lol i might have put a extra 0 in by accident

:rotfl:

i'd say you need to look at the payback terms of each option, as well as the monthly figure. if your money doesn't come through then you're going to have to make the monthly payments regardless. both are likely to have early repayment charges if you decide to settle when your money comes through.

why buy such an expensive car if you can't afford it without that money though?

YorkshireBoy

1. Talk to the dealer to see if you can cancel/defer the delivery.

2. Talk to your bank regarding short-term financing options. I would imagine they'll want to see some 'paperwork' before releasing £24K though.

I suspect any kind of HP settled early will attract significant penalties.

Stephb1986_2

i was told the money was going to be through by christmas its not my fault it isnt. well to be honest if i didnt have the car crash i wouldnt be as affected as i am and wouldnt be getting that sort of money.

I needed something to look forward to during all my hospital appointments. Im not asking anyone to pay for it im just asking which is the best way for me to pay for it?

tinkerbell84

Stephb1986 wrote: »

i was told the money was going to be through by christmas its not my fault it isnt. well to be honest if i didnt have the car crash i wouldnt be as affected as i am and wouldnt be getting that sort of money.

I needed something to look forward to during all my hospital appointments. Im not asking anyone to pay for it im just asking which is the best way for me to pay for it?

i'm sorry - i didn't mean to offend you

Stephb1986_2

its ok, i can only hold the car off till the end of march at the most.

Steph x