interest rates on car loans?

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Thu 10 Oct 2019 11:42
interest rates on car loans? - leojack

What are the common interest rates for car loans in Uk?

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Thu 10 Oct 2019 12:10
interest rates on car loans? - SLO76
High street banks typically lend at around 3% APR if you’re borrowing £7,500 or above and if your credit score is decent. This is the cheapest way to borrow unless the manufacturer is offering a zero percent or heavily subsidised rate on a new car. Dealer finance is costly and rarely anywhere near competitive yet so many people throw money away here.
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Thu 10 Oct 2019 13:50
interest rates on car loans? - Gibbo_Wirral

A dealer promised to beat the monthly payment for a Tesco cash loan I'd arranged.

To be fair, they did, by £2.

However, once you factored in the shockingly high arrangement fee, first payment and final payment which included a closure fee "for paperwork", it added something like £700 to the total cost over 3 years.

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Fri 11 Oct 2019 13:48
interest rates on car loans? - leojack

Is it possible to pay with Credit card?

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Fri 11 Oct 2019 13:59
interest rates on car loans? - SLO76

Is it possible to pay with Credit card?

Sure can and it’s illegal for them to charge you to do so anymore.
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Fri 11 Oct 2019 16:51
interest rates on car loans? - concrete

Is it possible to pay with Credit card?

Sure can and it’s illegal for them to charge you to do so anymore.

Interesting. Is it within the law to negotiate a deal for a car on the basis of dealer finance and then change your mind and want the same deal for cash? I think I heard of this being done and the dealer unable to refuse the deal. Could be wrong. MSE website gives the best rates available with 2.9% currently the best deal for £7.5K and above. No matter what I still think it is the best and cheapest way to fund the deal, with your own cash, either yours or borrowed from a competitive source. Cheers Concrete

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Fri 11 Oct 2019 22:15
interest rates on car loans? - alan1302

Is it possible to pay with Credit card?

Sure can and it’s illegal for them to charge you to do so anymore.

Interesting. Is it within the law to negotiate a deal for a car on the basis of dealer finance and then change your mind and want the same deal for cash? I think I heard of this being done and the dealer unable to refuse the deal. Could be wrong. MSE website gives the best rates available with 2.9% currently the best deal for £7.5K and above. No matter what I still think it is the best and cheapest way to fund the deal, with your own cash, either yours or borrowed from a competitive source. Cheers Concrete

Can't see why the dealer would have to honor the deal if you change to wanting to pay via cash thus changing the deal. Are you maybe thinking of when someone buys a car with all the dealer incentives on a PCP deal and then pays it all off with 30 days or something like that?

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