FabSwingers.com mobile

Join us FREE, we're FREE to use

Web's largest swingers site since 2006.

Already registered?
Login here

Back to forum list
Back to The Lounge

Buying a car help !

Jump to newest
 

By (user no longer on site) OP   
over a year ago

Is it better to buy on HP or personal loan?

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

I may be wrong hp has a large payment (balloon payment) at the end.

Bank.loan rates are favourable right now.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site) OP   
over a year ago

That's what I thought. But the buggers At the showrooms put doubt in my mind

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

if you can avoid it, then neither.

i am still paying for a car i had 5 years ago, yet drive a car that cost £500 and all because the engine gave up on the one i got on finance.

if you have to, then personal loan all the way.

much lower APR than the showroom can offer you

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

Have a look at martin Lewis site on net... Advice.

Bank would be my choice. Dealers get fees for referring finance.

I just need to get my bum.in gear for theory test... The hazard thing putting me off...

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

Call whichever bank you bank with and ask them for their best persona loan rate. Then have a look at moneysupermarket for the best rate. Call your bank back and they will probably match it. The reason I say use your bank is that it can be approved and in your account in a meter of minutes.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago


"Call whichever bank you bank with and ask them for their best persona loan rate. Then have a look at moneysupermarket for the best rate. Call your bank back and they will probably match it. The reason I say use your bank is that it can be approved and in your account in a meter of minutes."

MATTER of minutes. It's my Bedford accent

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

If you need a loan go to local credit unions.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago


"Have a look at martin Lewis site on net... Advice.

Bank would be my choice. Dealers get fees for referring finance.

I just need to get my bum.in gear for theory test... The hazard thing putting me off...

"

Always use a dealer's finance. They only get a commission from the finance company if they charge you above their threshold rate. So always negotiate. Also, by using their finance, it means you're not using up your first line of credit (your bank) which leaves you a fallback position in case of unforeseen emergencies in the future.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago


"If you need a loan go to local credit unions."

I thought you had to be a member tripodius. So you had to be a saving member in order to get a loan. Could be wrong tho. Could also vary between different credit unions.

Credit unions are superb

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

Never buy a car on HP through a dealer if you van help it

Higher interest rate (usually)

But more importantly, you don't actually own the vehicle until the final payment is made. Also less rights under the consumer credit act

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago

[Removed by poster at 31/01/14 10:42:56]

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago


"Have a look at martin Lewis site on net... Advice.

Bank would be my choice. Dealers get fees for referring finance.

I just need to get my bum.in gear for theory test... The hazard thing putting me off... go for it get the theory test cd rom to practice with my youngest passed her test yesterday know all we need to do is put a new akle on her car

"

Reply privatelyReply in forumReply +quote
 

By (user no longer on site) OP   
over a year ago

I opted for a personal loan through my own bank as it happens. Got 5.9%.

Just thought I'd check as the sales staff were quite pushy but the only plus side to HP I could see is the availability of credit but i don't think that's really a problem for me personally.

Pick the car up tomorrow happy days

Reply privatelyReply in forumReply +quote
 

By *illwill69uMan
over a year ago

moston


"I may be wrong hp has a large payment (balloon payment) at the end"

Think you may be confusing HP with contract hire where there is a right to buy at the end of the contract.

Contract hire is always worth investigating.

Reply privatelyReply in forumReply +quote
 

By *stwoCouple
over a year ago

anywhere

Depends on how much and for how long.ho from the garage gives you more legal rights.there is no balloon payment at end of ho you are confusing that with leasing.ho leaves your line of credit with your bank clear in case you ever need money for something else.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site) OP   
over a year ago


"I may be wrong hp has a large payment (balloon payment) at the end

Think you may be confusing HP with contract hire where there is a right to buy at the end of the contract.

Contract hire is always worth investigating. "

Looked at that but there is mileage restrictions that I couldn't commit to.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site)
over a year ago


"I may be wrong hp has a large payment (balloon payment) at the end

Think you may be confusing HP with contract hire where there is a right to buy at the end of the contract.

Contract hire is always worth investigating. "

I did say I may be wrong... Lol. Anyway they are sorted.

Reply privatelyReply in forumReply +quote
 

By (user no longer on site) OP   
over a year ago

Thank you everyone for your replies. I am now assured

Reply privatelyReply in forumReply +quote
 
 

By *entleman JackMan
over a year ago

Loughborough

Car salesmen make more commission by selling you their finance deal than they do by selling you the car.....

Go to your bank!

Reply privatelyReply in forumReply +quote
Post new Message to Thread
back to top