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Renaultsport Clio 182
Dont got with Reno Fianance they are robbing B*stards!
I borrowed £13,675 off them over 3 years at 10.5% on a 182, so add that to the £2,000 I put down on the car means a total of £15,675..
However after the first payment of £531.86 a month, I came into some money to be able to settle the finance.......settlement fee was £13,708.10
So for the car I have actually paid about £600 in interest for just one and a half months loan......scamming c*nts......get a loan from a bank or even better still get a student loan to pay for it!!
Hope it helps
wouldnt touch dealer/manufacturer finance, unless hammer them down to good rate and theres no penalties for early repayment.
Ive been looking at loans recently and found couple of deals on internet for 6-7% APR - lower rates only tend to apply if you borrow £10k plus.
238ppm over 4 yrs thats £10,000 @ 6% + 2000 down 182 with cup packs £12000 new! autolink
Alliance and Leicester Car purchase Plan @ 6.9%
12,000 @ 245pm for 3 yrs and a 4,000 balloon payment, or sell the car and pay it off.
Good point for next time. Ill take along someone with good bargaining skills for my next car too...Quote: Originally posted by Andy D on 24 November 2004
Strike the deal for cash ... and then ask about 0% finance. Get out your tape recorder. If they say that itll cost you more for "0% finance"
I WOULD NEVER EVER GET FINANCE AGAIN!
Been stung too many times tryin to get out of finance deals, hence i still owe 3k which has built up on my previous 2 cars...
even at 0%, at the end of the day you still stuck to it, so unless ya gonna keep the car for the term i wouldnt bother.
In terms of finance, best thing to do is to grab the Observer on Sunday newspaper and check the Money supplement. Each week it publishes the most competitive personal loans, should you wish to take out an unsecured loan. Ive seen rates as low as 5.7% APR currently, fixed for the duration of the loan - youd be hard pressed to get a fixed rate mortagage for that today!
Obviously there are trade offs, if you have a p/x there may be better reasons to go witht the Dealer finance, either way, you need an apples with apples comparison - work it out what each option will cost you in real terms and go from there.
ex Clio 172 owner :(
Do people not worry about 5 year loans? Seems like a prison sentence to me. 3 is bad enough.
I could afford a 182 over 5 years but wont get one as I think its too long. I cant afford one over 3.
Ill probably end up buying a 2nd hand 172 over 3 years.
It depends what sort of depostie and deal your looking for if you have say £3k deposit and get a deal where you hand the car back after 3yrs/30k then youll possibly get away for as little as £100 a month.
If your paying with no deposit and want to give the car back after 3yrs.30k then youll pay about £200 month.
If you want to own it after 3yrs then your looking at about £335/month.
EK9 + Mfactory gearing..
..do you have "new car syndrome"? if you do and are going to keep the car then save 2grand and look online for a low apr for the rest eg northern rock, virgin etc.(not that you always get the quoted apr as it depends on your credit rating/financial circumstances etc) second hand is better if you dont plan to keep the car long as you wont lose as much resale on it as a new one. save 2grand or sell your car and borrow a smaller amount, cos like ppl say a loan drags on eh, prices are good now cos of the 182. personally most ppl wont notice that much difference performance/handling between the 172/cup/182 debate (subtle mods can sort this if you do)...too many ppl think they are jason plato car judging specialists. how much money do you make?...what future plans do you have cos the bigger the loan....(2pence lighter now!)
FAO anyone who hasnt tried to get a loan from a dedicated loan company, their typical rate is nigh on impossible to achieve!
Your bank will give the best rate in my experiece due to the fact they have a true history on you.
and as ian says, leasing seems the best way to have a new car every couple of years at the min, some cracking deals about.
ie evo viii 260 for 299+vat p/m for 24 months
and i know someone who got a crossfire (27k list) for 275+vat p/m for 36 months!
A 182 wouldnt kill a 172 as as the underlying car is basically the same car but it is better, no arguments there. IMO the performance gap would be similar to the 16v/willy situation but less obvious. However, unlike the 16v/willy case, id say if you stick some cheap aftermarket parts on a 172 itd be better and all for cheaper...
[Edited by u33db on 25 November 2004 at 1:53pm]
133/225/CLS AMG
Its ok getting a lease coz it does cut the monthly cost right down but that money is just being given away as you dont come out with the car at the end.
I pay a total of £340 (with insurance) per month and if my car is worth £5k at the end of the 3 years then Ive got that to put down on the next car. Thats how I worked it but it depends if want to own it or not after.
Both ways have their advantages!!
Iain C
ClioSport Club Member
try a loan fron cahoot mate. Apr is lower and you can pay as little or as much as u like.
Thats wot i did on my cup.. Only have £1500 left to pay after 18 months of paying it off.
If your not bothered about a/c get a cup. Just as quick as a 182
Paying the loan is the last of your worries.
4 tyres every 6months
Service at least once per year.
Massive eurge to moddify
Paid by Credit Card 0% interest for 7 months. Put £6,220 down as deposit and the car will be paid for in 7 months (next April). Total cost £13,220 with a full tank of fuel, metallic paint, and both cup packs, UK dealer supplied and I am the first registered keeper.
There are loads of Credit Cards available with 0% offers on balance transfers and purchases. If you want it over a longer term transfer your balance at the end of the offer period to another card provider offering the same 0% terms.
Cheapest way to pay for the car, you pay what you want, no administration charges and you dont have any early repayment penalties.
