Am i asking too much for my car?

matt1987

Kez100 wrote: »

If the rate from Ford can vary or be turned down, you had better get the finance deal in place first before agreeing to buy. Our finance documentation and agreement was all done on the day of collection while our shiny new car was sat outside waiting. You wouldn't want to be in that position and then suddenly find you are at some terrribly high rate.

Yeh, i will have to ask them if i will definatly get that rate before going through with the deal. According to the salesman at my local bristol street i wont have no problem whatsoever.

However, if it is a higher apr, then they shouldnt charge the £95 purchase fee. I found this out last night when i phoned ford credit. The women said that if it was a higher apr, then it wouldnt be £95, but because its a low apr of 7.9% they may well charge me £95 purchase fee instead of £10.

I would of thought the 7.9% apr would be a set apr as thats what the offer is advertising no?

Kez100

Even our 0% said 'subject to status'.

Another clue is often where it says 'Typical rate' - that's not definite wording in my dictionary, although that's not to say in reality anyone gets a different %. You'll have to ask the experts and given the fun you have had over the £95 you'll probably be wanting guarantees not opinions.

matt1987

lol yeh your right on that one. I will want garantee's from them if i went ahead and ordered tomorrow... which if all goes well, i think im going to. Its such a good deal to miss out on to be fair. I would just rather give my money to another BSM after the constant lies and patronism from the manager of my local BSM.

MORPH3US

matt1987 wrote: »

Yeh, i will have to ask them if i will definatly get that rate before going through with the deal. According to the salesman at my local bristol street i wont have no problem whatsoever.

Given your past experiences, I would accept nothing but a written guarantee...

At the end of the day, you are taking out a loan, as you would have been with the Barclaycard loan we discussed above... so the same rules should apply... if you can't get the better rates with barclaycard because you "have no credit history" then I would be concerned that you wouldn't either....

And just because they advertise 7.9%, doesn't mean everyone is guaranteed it... its the same as with the barclaycard loan, thats the best rate anyone can get so thats the one that they advertise to draw people in...

matt1987

MORPH3US wrote: »

Given your past experiences, I would accept nothing but a written guarantee...

At the end of the day, you are taking out a loan, as you would have been with the Barclaycard loan we discussed above... so the same rules should apply... if you can't get the better rates with barclaycard because you "have no credit history" then I would be concerned that you wouldn't either....

And just because they advertise 7.9%, doesn't mean everyone is guaranteed it... its the same as with the barclaycard loan, thats the best rate anyone can get so thats the one that they advertise to draw people in...

Yeh, i will need a written garantee before i go ahead with it. I didnt realise it worked like that when you have a car on HP. I just thought you pay Ford back. Its something i will have to discuss tomorrow.

thanks for making me aware of that.

jammin_2

Come on Matt, we've had no update today mate.

What the story so far?..

matt1987

Well it aint good news..... I went to Kings Norton branch, and the guy i spoke to was really helpful!

After all the confusion at BS Shirley, this guy actually did it through the Ford system, and it seems they can only offer me 16.9% apr!!!! Not 7.9%!!! Seems that because im clean i cant get the good 7.9% rate.... and 16.9% is just way out of my budget.

Phone my bank, and that can only quote me 17.9%.

I would be paying over £750 in interest! Thats without the £95 purchase fee at the nd... :mad:

harveybobbles

jammin wrote: »

Come on Matt, we've had no update today mate.

What the story so far?..

:rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes:

One of the problems with young people wanting finance is cos they are "clean" it usually means they are deemed to be weak too.

Someone your age probably has no direct debits, no credit cards, no household bills, no phone bill etc.

But it's sometimes worth getting a credit card with a £250 limit, soend on it and then pay it off in full the next month just to earn a few brownie points on the old credit score...!

jammin_2

harveybobbles wrote: »

:rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes:

What's that supposed to mean?

harveybobbles

I was just rolling my eyes at Matt's reply lol