Car Finance Comparison Site

Ploddy

Does anyone know of a decent website for comparing the finance deals offered by manufacturers/retailers for new cars.

For example I know that currently Fiat are offering their Bravo's at 0% interest and no deposit for about £11K. I want to see if there are other cars available with similar finance deals for similar prices.

Please note ~ I do NOT want a car PRICE comparison site, these are 10 a penny on the net. I am looking at comparing the finance deals.

Cheers

Ploddy.

AdrianHi

Why do you want to compare car finance deals only?
If you are trying to figure out what a car will actually costs you in the long run the finance charges you might incurr are only a small component of the overall cost.
When considering new cars the costs are in the order:
1. By a long shot, depreciation
2. Depending on mileage and the car, but for most people, fuel
3. Everything else and somewhere in here is the cost of finance charges.

A Fiat Brava at 0% finance retaining something like 40% of it's value at 36 months does still work out cheaper than a VW Golf retaining 52% of it's value at 36 months. I'm just saying consider depreciation costs first because the finance charges on the Golf at 6.9% APR work out at 1245 in 36 months when the depreciation bill is 6251.
There is another thread here about Vauxhall 0% finance on a Corsa. Turns out to be a bad way to get into a Corsa because in the long run leasing it or paying finance charges to get a Skoda Fabia is cheaper.

Ploddy

Okay, I really didn't want to give an explanation of why I wanted this info but I will do just to help with ideas. Everything Adrian has written above I am aware of and know the maths behind it, however my sister is looking at buying one of said Bravo's because of the deal that they are advertising having no savings due to recently returning to work after bring the kids up.

I believe she would be able to get a better car with a similar deal, however I do not have the time to research this for her, and she is a bit too naive to do this herself. I want a website that I can direct her to so she can see for herself.

Hope this clarifies things.

Cheers

Ploddy

AdrianHi

My apologies for the incorrect assumption.
Taking £0 deposit as a requirement and the example £12604 Bravo on Fiats web site interest free over 36 months, the real depreciation cost on this car is £210 a month (retains 40% at 36 months old) (£350 a month loan payment). This Fiat also has 5 year unlimited miles warranty, the only other place you get that is on a Hyundai i30 which only keeps 33% at 36 months old so is more expensive.
So the question would be what else can I get for £0 deposit and £210 a month.
Leasing a Vauxhall Corsa is extremely good value and much cheaper than buying one due to the huge discounts the lease companies buy them at. You can get one for as little as £127 a month. No where near as big as a Bravo so probably not the right choice for a family. Astra lease prices over 36 months for a 1.4 Life with air conditioning come to £195 a month including VAT, Road Tax and Delivery
Another option might be a £12K Skoda Fabia with a £166.66 a month depreciation bill and a £35 a month finance charge coming to £201 a month. No 5 year warranty and a smaller boot than the Bravo.

To be honest I think you've already found the right answer with that Bravo, partly because I would measure the value of years 4 and 5 of that long warranty at £300 a year, which is roughly what an after market warranty of the sort that actually pays up when you expect it to would cost. If you keep the Bravo for that full 5 years you will bring it's month cost over 5 years below that monthly figure for the Astra if you take the warranty into consideration.

Alternatively the Astra might be a lot easier to deal with for cash flow reasons because you only have to pay out £195 a month to get in on the drive, the £11K Bravo needs £305 plus the cost of tax disks per month off you. The other beauty of leasing the Astra is when it's 36 months old you hand the keys back and get another one, never having to bother with MOT's and you might get away with never having to replace tyres is your mileage is low enough.

Hope that's more helpful, let us know what you do.

Ploddy

Crikeys, you are the oracle of new cars. The above info is great. As I say though, I am not actually buying the car my sister is. I do like the sound of leasing the Astra myself, I don't think she would consider it herself though.

She has had a difficult time over the last few years and I think she really wants the pride that comes with owning her own car for the first time.

Reading your information above it appears that if leasing is not an option then the Bravo is a better purchase than I thought initially.

Cheers Adrian.

AdrianHi

Ploddy wrote: »

She has had a difficult time over the last few years and I think she really wants the pride that comes with owning her own car for the first time.

I think taking pride in clearing a mortgage or being able to take a holiday is better than pride in actually "owning" a car (which will be on the scrap heap one day) which is a concept I've only recently learned to abandon myself. I do own outright my current car, but if leasing gave me best value for money in the long run on the car I wanted, I would do it without a second though and take pride in the fact I've got a bit more money per month to invest and help pay for my 2 sons University places one day in about 15 years time

Look for the "lease this car now" link on the right side of this page
http://www.whatcar.co.uk/car-review-summary.aspx?NEW_USED=1&MA_TYPE=1&MA=2&RT=644

Bravo is a smart car I got the chance to sit in one before they went on sale when I was doing some IT consulting for BCA (british car auctions). Kind of changed my perceptions of Fiat.
Good luck