9 replies to this topic

[caleebra]

Hi folks, I've had a quick search through the forum but haven't quite found what I'm looking for, so... For those that used finance to pay or partly pay for their VX, what company did you use, how long is your repayment term and did you use to pay part of or all of the price. I appreciate some of these answers are perhaps not the sort of thing you go broadcasting on the internet but any info would be mucho appreciated. I've had a hunt around for deals using AutoTraders finance calculator but just wondered if there were any others out there...

[madasahatter]

Caleebra. The route I took was to go out to the Internet (I use www.moneyworld.co.uk but there are loads) and check out the cheapest loan with the features you want (zero redemption etc). For instance Cahoot tend to be quite cheap. Then, go to the dealer (if you intend to buy from a dealer) and get them to "price match" the loan quote you have got. Worked for me, and means that I am with Vauxhall for the finance (which is quicker than trying to get a loan elsewhere), and I know who to shout at if they screw it up. Just IMHO though... Steve

[Thorney]

I've been using Lombard for a while now and have a good contact there: Matthew Jones, 02920 746000. Ask for Paul if Matthew isn't there, tell them I referred you and they'll do their best for a good rate/terms.

[Duncan]

I found sorting out loans to be a nightmare! Couple of points: 1./ Sorting out a loans takes bloody ages - typically 3+ weeks before you see the money. "instantonline desicision carrys about as much worth as being "preselected" for a credit card. 2./ The "typical" rate they show isn't always what you will get. I went round the companies offering the best rates a while back and it would seem they advertise low rates to get you to apply, but most people won't meet the standard to get that. You'll end up with at least a couple of extra percent added on for good measure. I've been in the same decent job for five years and never missed a payment on anything, but I'm screwed 'cos I rent and I'm not married... 3./ As madasahatter said, get a quote and take it to the dealer to match it. Whilst I don't like HP 'cos you don't actually own the car, the advantage is you have a lot more power with vauxhall if something goes wrong. They know if there is a problem with the car you can just cancel the payments and return the car. This was what saved Rockstar in the end (no not the FA vote) - I doubt Vauxhall would have offered him his money back if the car wasn't on HP. Just my long-winded 2p...

[cheeky_chops]

I went through alliance and leicester - they do a car loan scheme where by you borrow for example 10K, pay over 3 years and are left with a balloon payment at the end eg 3k. You can then refinance or pay the loan off. APR was 6.9.... Works for me with my current job status.

[pablo]

the rac do their own personal leasing scheme which dependant on the deposit can reward from 0 - 12%interst rates. trouble is their vx list price is a bit high, worth a look though.

[caleebra]

pay over 3 years and are left with a balloon payment at the end eg 3k. You can then refinance or pay the loan off. APR was 6.9....

Sounds quite interesting, shall have to give them a phone. Will try Lombard and RAC too, thanks for the replies gents cheers Need to get some quotes as I wont definitely buy from a dealer.

Lee

[caleebra]

Thorney - I tried to phone the number you gave, but the bird that answered gave me the 0800 number to phone and said "We dont do personal loans here"

[NoEscape]

My recommendation is go onto the AutoTrader website (presuming its to fund a car - actually, it don't matter!) and go to the finance section. Type in a few details and it gives you a rough idea of the apr and payment terms! You then select the one you want, and get linked to that companies site to fill in the rest of the details. Of course remember that these companies usually offer such low apr, but when your application has been processed, its usually higher! Cahoot are the currect loan leaders, apr 6.5%

[caleebra]

Ian, I've tried that, had a look at the deals... Also had a look on www.moneyworld.co.uk madasahatter suggested - that was quite good. The main reason I put a post up here was just to see if there was anything different out there that I was missing out on... Will be interested to see what rates they come back with once I complete an application, could have a big bearing on the proximity of my VX ownership years...