Best way to finance a 13K Toyota Avensis

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Tue 3 Jan 2006 15:51
Best way to finance a 13K Toyota Avensis - mj2000uk
Hi All

Many thanks to all who helped on my previous post.

I currently have a Toyota Avensis on a contract lease which I intend to get out of by purchasing the car out of the contract.

I am estimating that Toyota will offer me a figure of around 13K for the car. Its 9 months old and done just over 26000 miles as a rep-mobile!!!

The car, for you info, is a D4-D T4 2.0 Diesel.

Any tips on haggling with Toyota Financial Services to get the price down and most importantly, what its the best way to finance this purchase?

Thanks all.

Mike
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Tue 3 Jan 2006 18:26
Best way to finance a 13K Toyota Avensis - mikeyb
Dont know if it would work, but I would suggest that whatever they offer you the car for knock something off and tell them its all you have otherwise you will just keep the car until they repo it. I would expect that you should get £500 quid off doing that as in the scheme of things it saves thay having to make to much effort in collecting the car etc. If you need finance then the best way appears to be to get an unsecured personal loan - I have seen rates down to 5.8% in some places.
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Tue 3 Jan 2006 18:28
Best way to finance a 13K Toyota Avensis - Falkirk Bairn
Unfortunately they have all the cards - its their car and they have a contract with 26 mths to run and you have the liability to honour the contract.

Often the final payments in a broken contract is the "rule of 78", which is discredited by many, as it loads the interest payments up front. Look in your contract for "Rule of 78"

There is not much you can argue/plead other than ask for sympathy / is that the best deal you can do?
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Tue 3 Jan 2006 18:33
Best way to finance a 13K Toyota Avensis - storme
finance thru directline.com

6%apr
non secured
5yrs
no insurance
probably about £225 a mnth
if u default,,,the car is still yours
--
www.storme.co.uk
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Tue 3 Jan 2006 19:04
Best way to finance a 13K Toyota Avensis - Aprilia
I tend to avoid borrowing money, so don't know much about loans - but will a loan company give you money at 6% if you've been made redundant? I would have thought they would want to see payslips or check your salary with employer?

If it were me I would try to get the car as cheap as possible and then hand it over to a trader ASAP to clear as much of the debt as possible and get the finances sorted out. If you need a car then a MY2000 Primera/Avensis can be had for £2500.
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Tue 3 Jan 2006 21:48
Best way to finance a 13K Toyota Avensis - mare
I tend to avoid borrowing money, so don't know much about
loans - but will a loan company give you money at
6% if you've been made redundant? I would have thought
they would want to see payslips or check your salary with
employer?


Try your bank. I have been out of regularly paid (i.e. salaried) work for about 8 months and pretty sure i could get such a loan.

Course, it depends on the bank.

Or once you've got a new job, consider a remortgage, depending on what you're paying now and equity in house etc etc. But please do your research and get some quality advice, rather than listen to some nutter on an internet forum.

(Offset mortgages rule!)
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Tue 3 Jan 2006 23:59
Best way to finance a 13K Toyota Avensis - Quinny100
You want a Cahoot flexible loan - you can repay these as you wish and you only pay interest calculated daily on the outstanding balance. The minimum payments aren't huge either, and they seem to hand them out fairly freely.
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If you cover no more than 100 miles per day and have easy access to a charging point at home or work, then an EV is ideal for you.

Is an electric car right for me?