Do I Need to Put a Deposit Before a Loan?
My parents' maturity date is next January and they'd like to take out a loan to pay off the balloon.
Is a deposit required or is that only when they're getting another car?
They're PCP.
Thanks.
EDIT:
The loan in question would be from their car finance company.
Is a deposit required or is that only when they're getting another car?
They're PCP.
Thanks.
EDIT:
The loan in question would be from their car finance company.
0
Comments
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If it’s a bank loan, no. If it’s their own bank, they may not even ask what the loan is for.0
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Thank you.
The loan would be from the car finance company.0 -
Can they not get a loan from their bank or other source?, the APR will be way lower and the repayments cheaper.0
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I asked for a settlement amount a few months in advance, got a loan at a low rate from my bank in hours, transferred the agreed amount to the finance company and it was job done.0
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