PCP/Finance

[dansaleh]

Evening guys,

So my car set sale 2 days ago from Baltimore, so it should be in the country in a few weeks...time to get the finance sorted apparently.

For obvious (APR) reasons, I don't want to finance the car through Ford directly, so i thought I should see whether any of your guys have had a particularly good or bad experience of funding your 'stangs with third party brokers?

Any advice on it would be good.

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[jord79]

I looked into this a bit when I got mine. What pushed up the interest rate was borrowing more than £15k. As Ford allowed a maximum down payment of about £12k for PCP, that couldn't qualify for a better rate. It would have been possible to take out 2 deprecate personal lines from different banks for a better rate, but didn't want the hassle, though the monthly payment would have been reduced by about £20-30, which is significant over 3 years.

 

[McXtravert]

I got a dirt cheap rate from Hitachi for mine. Give them a look. I was a customer with them previously so not sure if it was a 'offer' that I got.

 

[Enoch]

Also look at Sainsbury's and Tesco loans.....very low rates at the moment..

 

[davidathomas42]

I went with Yorkshire Bank.
Much better Apr than Ford and a higher residual value also so that brought down the payments.
I think with £5k in ford wanted £550 ish a month over 3 years with a final ballon of £17k? Or there about.

Yorkshire £4500 down and £470 a month with £18.5k ballon

There rough figures as not as my desk.

 

[simonp83]

I went with Yorkshire Bank.
Much better Apr than Ford and a higher residual value also so that brought down the payments.
I think with £5k in ford wanted £550 ish a month over 3 years with a final ballon of £17k? Or there about.

Yorkshire £4500 down and £470 a month with £18.5k ballon

There rough figures as not as my desk.

I've gone the easy route and gone with Ford, 12,500 down and then 240 a month for 2 years. Balloon payment is 20500 at the end of it, so I'll have a good chunk of money to put into paying that and then look at a loan for the rest. Probably not the cheapest way of doing it but looking around, it was the best way I could come up with.

 

[GR11M]

I only financed £12k, I used HSBC (lower APR than Ford) and it worked out at about £240 a month

 

[Jimboy2]

I put 10k down and it's 313 a month. That's with ford. Probably not the smartest financial decision I have ever made but neither was ordering a 5.0 V8 to sit on my drive and look pretty.

 

[simonp83]

I put 10k down and it's 313 a month. That's with ford. Probably not the smartest financial decision I have ever made but neither was ordering a 5.0 V8 to sit on my drive and look pretty.

A worse finically decision would be using it to poodle to work and back in .:clap2:

 

[hinch]

A worse finically decision would be using it to poodle to work and back in .:clap2:

nothing wrong with that it does my 6 miles per day no bother

 

[GR11M]

I do 4 miles a day

 

[Col3371]

I often do zero a day. I work from home

 

[v8hgt]

I got this quote from lloyds bank a while ago, but I see they have now dropped to 4.6% APR so I will need to remember to refresh it shortly.


Finance option: Flex Car Finance
Price of car: £36,325.00
Deposit: £5,500.00
Amount of credit: £30,825.00
APR: 4.7%
Term: 48 months
Parameter value
Monthly repayment: £444.21
Final lump sum payment: £14,124.00
Purchase fee: £10.00
Total repayable: £35,001.87

 

[dansaleh]

Those are much better figures than I've been offered.
Best I've seen is 4K down, £525 a month for 48 months with a balloon of £16446 at the end.
Think it works out at about 5.3% APR.

I didn't realise that banks could offer PCP deals?

 

[Spider]

I often do zero a day. I work from home

Snap got mine for sunny summer weekend(s)

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