12.7% finance on a 182 cup @ £11800

[cupsportmad]

My mate just struck a deal with the dealer i rejected a 182 cup from and im telling him hes out of his head but he just wont listen to me. The deal he got was a 182 cup for april delivery with recaros for £11800 on finance at 12.7% with a £500 deposit, is this a good deal? The total cost of the car including the ballon payment is going to be something like £16k.

Im also trying to persuade him that a 182 with the cup options would be a better bet for him because hes worried about resale and they have this car for immediate delivery, he wont listen to a word i say. It seems like he wants a 182 cup no matter what the cost. Need someone to put him straight as he has started reading this forum.

 

[Lewy.Lewis]

The never nevers sometimes not a good idea. If he can get a never never company to give him a finace loan hes better off getting a low percentage loan fromo someone like Tesco or Sainbury and save himself quite a few pounds. Not that Im a grandad or anything!! (now weres me carpet slippers).

[Edited by Lewy.Lewis on 2/2/2005 10:36:33 PM]

 

[MOB182]

I got quoted a similar rate from Renault

But my bank did a loan at 6.9% instead

 

[Chili Red]

12.7% finance is daylight robbery! Tell him to go for a Marbles or Cahoot loan and its less than half that.

Mines something like 6% with Marbles, £9k over 4 years, £202 a month. Im paying about £700 in interest, hell be paying four GRANDS worth of interest! He needs to SERIOUSLY think again.

 

[® Andy]

Ill lend him it ... for only 11% APR

 

[FullThrottle182]

renault car finance did me 4,95 % (belgium)

 

[st33ly]

Tell him to ask for a better rate! Dealers can offer any rate they want to get the bussines!

 

[homerjay]

Quote: Originally posted by FullThrottle182 on 03 February 2005


renault car finance did me 4,95 % (belgium)

apparently european bank loans are as low as 2% !!!!!!!!!!!!!!!!!!!!!!!!

 

[mrk1]

Getting ripped off on mine but I will re-finance at the end of the year so save me some cash. (11%apr). They can do any rate they like if you push them. If you get a loan at 7% they will probably match it as some business is better than no business on the finance

 

[R20 CWH]

very poor deal, id tell him to withdraw the offer and hunt on the net at moneysupermarket.com for the best deals loan wise

 

[Mike-bham]

Renault finance did my loan at 6.9%, a few weeks later my bank offered me 5.9%, doh