Car finance - what you need to know - Top10s
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Date: 2022-04-11
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Comments and reviews: 10
krocialblack
It's funny how all you teenagers just get a little taste of life experience, and think you've got it all figured out. No. You can NOT always pay for cars in cash. Nor does financing mean you're living above your means. -if you don't have the cash to buy the car. You shouldn't own a car. HURR DURR-. Okay. Well lets apply that same logic to buying a home. Guess we have to be homeless because we don't have that 150 grand up front to buy that house in cash. So it looks like the wife and kids will be sleeping under that park bench tonight. Yeah. Sorry to break this to you guys, but that isn't how life works.
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It's funny how all you teenagers just get a little taste of life experience, and think you've got it all figured out. No. You can NOT always pay for cars in cash. Nor does financing mean you're living above your means. -if you don't have the cash to buy the car. You shouldn't own a car. HURR DURR-. Okay. Well lets apply that same logic to buying a home. Guess we have to be homeless because we don't have that 150 grand up front to buy that house in cash. So it looks like the wife and kids will be sleeping under that park bench tonight. Yeah. Sorry to break this to you guys, but that isn't how life works.
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saltire546
The best giude would be dont use carwow, they advertise cars - way above what some car makers are selling them for do you home work what you might think is a bargain wont be.
Currently in the uk some of the independants prices will destroy carwows prices easy its just a case of going on the internet and searching.
I got this e-mail form Trustpilot
Thanks for reviewing carwow on Trustpilot.
carwow has reported your review because they don't believe
you've had a genuine buying or service experience. Reported reviews are
temporarily moved offline.
The truth hurts!
reply
The best giude would be dont use carwow, they advertise cars - way above what some car makers are selling them for do you home work what you might think is a bargain wont be.
Currently in the uk some of the independants prices will destroy carwows prices easy its just a case of going on the internet and searching.
I got this e-mail form Trustpilot
Thanks for reviewing carwow on Trustpilot.
carwow has reported your review because they don't believe
you've had a genuine buying or service experience. Reported reviews are
temporarily moved offline.
The truth hurts!
reply
bearbear807
when buying always go for earliest model of the car and ideally 2-3 years old (try not to buy a newish end of life or ready for new generation model) also go with the most popular option model trim as well as ones with loaded options don't buy a basic spec car because they are less desirable.
Go to the bank get a loan and buy it out right and pay low interest, then change the car every 2-3 years.
I have been doing this way for awhile and it works out pretty well whenever i come to sell it never depreciate more then 25%
reply
when buying always go for earliest model of the car and ideally 2-3 years old (try not to buy a newish end of life or ready for new generation model) also go with the most popular option model trim as well as ones with loaded options don't buy a basic spec car because they are less desirable.
Go to the bank get a loan and buy it out right and pay low interest, then change the car every 2-3 years.
I have been doing this way for awhile and it works out pretty well whenever i come to sell it never depreciate more then 25%
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Darren
PCP is a con. BMW and VW quote a average of 4. 9% Apr on its finance, and then offer phantom deposits that bring the Apr down to circa 4% they get the loan at bank rates that are circa 2. 5% and then bank the profit they make on the car plus the 1. 5% difference extra they make in spare interest charges; you don't own the car; you must service the car at their garages; your restricted to mileage; finally they can shaft you for repairs at end. Just get a personal loan ( if you can't get one; take the hint)
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PCP is a con. BMW and VW quote a average of 4. 9% Apr on its finance, and then offer phantom deposits that bring the Apr down to circa 4% they get the loan at bank rates that are circa 2. 5% and then bank the profit they make on the car plus the 1. 5% difference extra they make in spare interest charges; you don't own the car; you must service the car at their garages; your restricted to mileage; finally they can shaft you for repairs at end. Just get a personal loan ( if you can't get one; take the hint)
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Daniel
What's with all these -cash only - live within your means- comments. Don't people know how the world works? Also using credit and finance sensibly is sometimes wiser than not using it at all. What do you guys think a mortgage is? You don't save first and then buy a house. Also - let people live their life how they want to. If they want to get a brand new car then let them. I've seen people get an older car and spend all the money they're supposedly saving in the garage fixing things every other month.
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What's with all these -cash only - live within your means- comments. Don't people know how the world works? Also using credit and finance sensibly is sometimes wiser than not using it at all. What do you guys think a mortgage is? You don't save first and then buy a house. Also - let people live their life how they want to. If they want to get a brand new car then let them. I've seen people get an older car and spend all the money they're supposedly saving in the garage fixing things every other month.
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Grant
Friend works at Aston Martin dealership.
We were talking about how many people buy cars outright the other day.
She says around 80% are on finance.
For a prestige badge this shocked me at first. But then it kind of makes sense when you imagine how many different bills people have going out these days.
Cars like Audi/BMW/Merc are selling more today due to finance options available to people.
It's a lifestyle choice I suppose for some who can just about afford it in most cases.
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Friend works at Aston Martin dealership.
We were talking about how many people buy cars outright the other day.
She says around 80% are on finance.
For a prestige badge this shocked me at first. But then it kind of makes sense when you imagine how many different bills people have going out these days.
Cars like Audi/BMW/Merc are selling more today due to finance options available to people.
It's a lifestyle choice I suppose for some who can just about afford it in most cases.
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Nick
my family often purchase cars pm finance because they dont want to save up 50k and limit what else they can do with there money for a year. They'd rather just put 10k down and pay monthly because it then allows them to spend much more money on thinks like trips and wont empty there bank account. however they have brought cars cash as well which they think is good if you have a lot of money prepared and enough left over to do things
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my family often purchase cars pm finance because they dont want to save up 50k and limit what else they can do with there money for a year. They'd rather just put 10k down and pay monthly because it then allows them to spend much more money on thinks like trips and wont empty there bank account. however they have brought cars cash as well which they think is good if you have a lot of money prepared and enough left over to do things
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Osman
People on the comment section be like -Use always cash, if you can't afford it you shouldn't be financing it-, man do you really know how the real world looks like? Financing doesn't mean that you don't have the cash, it just means that you pay it monthly as if you have saved it just with a little intrest on it, so chill out. Instead of using all that money at once for a car, intelligent people use the rest as an investment.
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People on the comment section be like -Use always cash, if you can't afford it you shouldn't be financing it-, man do you really know how the real world looks like? Financing doesn't mean that you don't have the cash, it just means that you pay it monthly as if you have saved it just with a little intrest on it, so chill out. Instead of using all that money at once for a car, intelligent people use the rest as an investment.
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Person
As the saying goes -stick within your means-. I don't understand people who get themselves into finance deals to keep up appearances. I'd rather be proud of what I can afford and not lose money through leasing (renting) or regular interest payments.
I understand it if a person is well off, otherwise just stick to what you can afford. If you don't like your current reality, work to change it.
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As the saying goes -stick within your means-. I don't understand people who get themselves into finance deals to keep up appearances. I'd rather be proud of what I can afford and not lose money through leasing (renting) or regular interest payments.
I understand it if a person is well off, otherwise just stick to what you can afford. If you don't like your current reality, work to change it.
reply
thormaster06
I'm from Croatia. Our car market is quite smaller and car price for ''cash'' or finance is the same + interests when buying finance. I save monthly for a new car and buy a new car roughly every 7-8 years. My parents gave me their 1995 Daewoo Nexia in '98. I bought my first car in 2002 Peugeot 206. In 2009 i bought VW Eos. And a Sunset Copper Peugeot 3008 gt just couple of months ago.
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I'm from Croatia. Our car market is quite smaller and car price for ''cash'' or finance is the same + interests when buying finance. I save monthly for a new car and buy a new car roughly every 7-8 years. My parents gave me their 1995 Daewoo Nexia in '98. I bought my first car in 2002 Peugeot 206. In 2009 i bought VW Eos. And a Sunset Copper Peugeot 3008 gt just couple of months ago.
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