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Loan or Finance?

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Richn83:
Jules, from what youve said you can afford an older S3, so what your talking about here is not buying the car outright on finance but topping up the money you have to get a newer better spec'd one? Am I right. While still being able to keep some money in the bank for emergency requirements like zorst and tuning  :evilgrin:

Jules86:

--- Quote from: Richn83 on May 20, 2010, 12:02:32 pm ---Jules, from what youve said you can afford an older S3, so what your talking about here is not buying the car outright on finance but topping up the money you have to get a newer better spec'd one? Am I right. While still being able to keep some money in the bank for emergency requirements like zorst and tuning  :evilgrin:



--- End quote ---

Basically mate, im looking to finance as big a chunk as possible to leave me more cash for other things (holidays, mods, electronic items etc)


--- Quote from: GTIjames on May 20, 2010, 11:43:43 am ---
--- Quote from: Nasir on May 20, 2010, 11:18:02 am ---Not sure if it's relevant but Audi are giving 2 years free servicing on finance deals, but not cash deals :stupid:

--- End quote ---

imo if you cant afford it dont drive it, especially with the current economic conditions as its going to get a lot tougher for us all over the next couple of years especially if you work in the public sector 

 

--- End quote ---

I can afford it, just instead of saving 3-400 pound a month for a few years i can have the car now and pay someone the money for the privilege!

B3n:
My basic opinions are

If your looking to mod the car get a Loan.

If you want the minimum monthly payment and will probably look to change the car every 3 years get a PCP.

If you want the inbetween get a Hire purchase agreement.

With all VWFS finance agreements (except Contract hire) if you buy the car from a main dealer there are no early settlement charges.

Jules86:
Nice one cheers mate  :happy2:

Edition30:

--- Quote from: Ifti on May 20, 2010, 10:12:54 am ---If you havent got the cash to hand, dont buy the car.
Personally i wouldnt want to get into debt over a car. My mortage is the only debt I have, and the only one I ever want to have!

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Not everyone has that kind of cash so the amount your saving a month, why not just pay it of the car?

Maybe your paying some interest but you have the car years earlier than saving for it. As long as he has more money in the car than its potentially going to lose he cant get himself into trouble.

Finance rates are dropping at the minute, just go see which works out cheapest. I had PCP but at silly interest rates..so be careful what your signing up to. You pay interest on the full amount (the balloon payment aswel) when taking on PCP.

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