Check out the Subaru finance deals, they are usually very good... thats how I did a bit of mine.

Rgds, Alex

 

All my finance was done through the scooby dealer, they approached a number of companies for me and get the best deal. Otherwise Egg.com offers pretty good loans with reasonable interest rates.

Duncan

 

I bought mine cash, but it in an old N reg and I have no money to spend on it now

But not fiance payments either

Bank always seem to offer the best rate when ever I have looked in the past and it is not secured on the car so you can sell it and buy another later should you wish to.

 

I got mine from Subaru - they can work it so you can either have lower monthly payments and higher balloon payment, or vice versa, or if you want to pay a low deposit rather than the 10% a lot of companies request.

They can also shorten or lengthen the payback period for example instead of a 3 years payback period to 3½ years, etc. They seem very flexible, and the APR is not bad either.

Scott

 

Guys/Gals,

Scoobys cost more than your average Ford Focus... But cheaper and better than a Boxter.

How do you guys pay for your chariots. I got to finance about 48% of my brand new scooby.

Best deal I have seen for a straight forward loan is the TSB @ 8.7% ( Internet Only deal mind" ).

Those that buy their cars cash... Your my best friend ... I really like you....

Any advice

 

Bank job possibly ?

 

I reckon the Alliance & Leicester have got a pretty good scheme

It works a bit like a PCP - there's a balloon payment at the end of the term that should be roughly equal to the residual value of the car. The advantage over a PCP is that you're not locked in to any particular term on the car.

It means your monthly payments are reduced - I borrowed £20k and am paying £437/month for 3 years. APR is quite low - 8.9%. I'll worry about the balloon payment when I get there.

Ed

 

I actually got my Scooby financed by BMW

I was considering a BMW at the same time but when I decided on the Scoob the BMW dealer said would I consider him for the finance. Because it wasn't his car, he didn't really care how much he made, so he gave me a great rate

The Scooby dealer wasn't happy as the car was effectively bought by BMW finance and he had to explain it to his MD Consequently he made me promise to use him next time and would match anything BMW would offer, even if he lost money! Yeah right

 

Heres how I got my MY00:

Found a credit card company that would give a cash advance at 5.9% APR fixed for 6 months. I got the credit limit raised so I could borrow enough money.

Transfered that balance to another card at 3.9% fixed until the balance was repaid.

I actually purchased the car using a debit card

Luckily I had a "windfall" after buying the car so I repaid the card in full when I got the first bill

My wife works for a Motor Finace company and even with staff rates it wasn't as cheap as this method

 

As above is a cool way if you remenber to transfer between cards at the right time.

I looked for my loan on

 

same as davidw!

credit card. Using a credit card cheque paid myself 10k twice each time transfering the balance, now it's fixed at 5.9% until the transfer is paid off.

Did this a couple of times but when I got it up to 50k thought I'd best sell some of my toys.

One company gave me 4.9% and and no payments for nearly a year (although I did keep paying some off).

It's amazing how much money people will give you.

MattN

 

Buy your car on a credit card.... Thats different. Would never thought of that.

You got to keep juggling the balance between credit cards if you don't pay it off.

Most of these low interest credit cards are only low intrest for about 6 months.

 

PCP from the dealer that beat all other options at the time . APR is tiny compared to what the bank wanted.

Buying a car on a debit card

 

The debit card thing was a real eye opener

I purchased the car (new) and was when the card was swipped the bank did not require special confirmation from me (normally the operator asks to speak to you) or special authorisation for such a large amount. Even the dealer was suprised.

About three weeks later I received a letter from the bank saying they had noticed a "large" payment on my debit card and could I confirm it was correct!

If the card had been stolen the thief would have had 3 weeks to leave the contry before anyone noticed. I was not impressed

 

I know of one dealer who's offering a rate of 5.75% at present, which I think is very reasonable indeed.

 

If you've got a mortgage, talk to your bank about a personal load at mortgage rates. I got the money for mine at 4.99%. They might also let you pay it over an exceptionally long term (I was offered full mortgage term - 25 years at 80 quid a month)

 

and I thought I was the one on the BBS that asked rude questions (this is a joke!)

I did ask this type of question a while back, got some interesting answers back, so a search might turn up something.

As for me, well, I paid for the car in full, no finance. However, it was/is a MY94 WRX Wagon, which cost aprox 10k (back in april 2000) so it's not the same as getting a brand new MY00/MY01, but it still counts.

 

If you can't negotiate a mortgage rate loan, you can extend your mortgage, particularly if you have gained a lot of equity since buying. It can be very flexible if you don't take on any sweeteners that mean you can't move the loan or pay it back early without penalty. Worth noting that if you go to a different b/soc from the one with your current mortgage, the new people may not be able to agree on who gets paid first if you stop paying. Even if the equity in the house is huge, they may both insist on first spot. Some charge for valuations if your loan is getting to a significant proportion of the value of the house.

 

vmax,

just speak to the credit card company. My rate is fixed for as long as the balance is outstanding. 5.9%apr

MattN