Car Finance Experts - Advice Please!!
08 January 2002, 05:05 PM
#1
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is it a loan or hire purchase?
edit to add this
hp's are secured on the asset ie the car.i would try and find a nice dealer who could increase the value of his old car as part ex so it matches the oustanding finance. obviously he would inflate the cost of the new car by the same amount as the he did for the part ex.
personal loans generally arent so therefore he could just use it as deposit on next car and continue paying off the personal loan.
[Edited by P20SPD - 8/1/2002 5:08:17 PM]
edit to add this
hp's are secured on the asset ie the car.i would try and find a nice dealer who could increase the value of his old car as part ex so it matches the oustanding finance. obviously he would inflate the cost of the new car by the same amount as the he did for the part ex.
personal loans generally arent so therefore he could just use it as deposit on next car and continue paying off the personal loan.
[Edited by P20SPD - 8/1/2002 5:08:17 PM]
01 August 2002, 05:03 PM
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A colleague at work has given up on the house market and decided to get a new car.
He currently has a 306 1.4L on a '98 S plate. Its worth about 3.5k but he owes 4.5k on the loan for it. He currently pays 190 quid per month.
He's after a 1.8SE Seat Leon (not the Turbo), new or secondhand or import. Whats the best deal/way for him to go about consolidating the old loan and getting the new car?
Ta!
He currently has a 306 1.4L on a '98 S plate. Its worth about 3.5k but he owes 4.5k on the loan for it. He currently pays 190 quid per month.
He's after a 1.8SE Seat Leon (not the Turbo), new or secondhand or import. Whats the best deal/way for him to go about consolidating the old loan and getting the new car?
Ta!
01 August 2002, 05:13 PM
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Drag it!
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in that case i would personally get a bigger personal loan to pay off the existing loan and still have enough cash to pay diff between the p/x and new car.
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