bit of advice on finance?

[The Chubby Pirate]

He's not talking about leasing. He's just saying after the period hand it back.. They'll clear the balance.

Even so though, if there are dents and scratches all over it they are hardly going to accept that are they...?

 

[Justin]

I don't think it matters, but why would it be covered in dents and scratches? But the mileage does matter.

Besides, if your thinking about only having it for a year or so, it's probably not the best idea. Handing it back half way through is more of a 'get out option'

 

[SC03OTT]

If you're only having it a year, just buy 2 year old 197? You still have 1 years warranty and the depreciation will not be as bad. I get that it's not the same car though.

 

[Gally]

Exactly Justin, dents and scratches after 2/3 years is wear and tear any other damage you will be billed for simples.

Like leasing but cheaper per month and you have to tax it ect... I think there is a lot of perks with leasing tho.

 

[stuart1989]

If your getting a loan, get it from a bank, don't attach outstanding money to a car mate.

 

[Justin]

leasing is a good option, but you need to stick with the car, and stick within the guidelines etc. Guy from my work swears by it. No hassle of selling/trading in, new car every two years fully maintained etc

If your getting a loan, get it from a bank, don't attach outstanding money to a car mate.

Again, it depends. My gf's bank offered her a loan at 20.9% and BMW finance was 8%. Not really a difficult decision.

I've also bought and sold cars privately with finance outstanding with no problems.

The biggest problem comes when people over commit themselves for a Clio 200, when really their budget is more suited to something less.

 

[Gally]

How easy is leasing Justin? Deposit required?

Business required?

 

[Waitey]

leasing is a good option, but you need to stick with the car, and stick within the guidelines etc. Guy from my work swears by it. No hassle of selling/trading in, new car every two years fully maintained etc



Again, it depends. My gf's bank offered her a loan at 20.9% and BMW finance was 8%. Not really a difficult decision.

I've also bought and sold cars privately with finance outstanding with no problems.

The biggest problem comes when people over commit themselves for a Clio 200, when really their budget is more suited to something less.

Hell Justin your woman must be high risk.

I'd been in my job a week and Natwest offered me 8.3% on my loan!

 

[Sarah]

Put a few K's deposit down if you can

Basically if you want to get rid at any time. They will work out how much is outstanding to pay and then the cash you get from selling ur car will go straight back to the finance company. If you have less finance outstanding that the cars worth then you will get the difference in cash. if you owe more than the car worth you will have to settle the balance

If you want to 'trade the car in for another car' then they will settle the outstanding finance on the previous car, and you take out new finance on the next car

Pretty simple really

Parents have never owned a car and its never done them any harm, just make sure you can afford the monthly repayments

Its either you get a loan and loose money on depreciation or pay cash and loose your savings on depreciation

Hope this helps

 

[Justin]

How easy is leasing Justin? Deposit required?

Business required?

Not 100% sure. Don't think it's a deposit. They also deliver the car to your door. He tends to go for things like TT's and Rx8's. Seems pretty straight forward

Hell Justin your woman must be high risk.

I'd been in my job a week and Natwest offered me 8.3% on my loan!

I think it's due to lack of credit rating tbh. She has never borrowed so is probably a high risk. Or the bank didn't want to lend to her! Lol