Car loans?
21 March 2003, 04:49 PM
#1
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I'm looking for a good deal on between £8,500 to £10,000.
The best one I've found so far is DirectLine offering 6.9% fixed, with a deferred payment.
£10k - 2 years £251 (£5k deferred)/3 years £206 (£4000 deferred)
£8k - 2 years £201 (£4k deferred)/3 years £165 (£3200 deferred)
Can anyone recommend or even sell me a loan?
Cheers
Andy
The best one I've found so far is DirectLine offering 6.9% fixed, with a deferred payment.
£10k - 2 years £251 (£5k deferred)/3 years £206 (£4000 deferred)
£8k - 2 years £201 (£4k deferred)/3 years £165 (£3200 deferred)
Can anyone recommend or even sell me a loan?
Cheers
Andy
21 March 2003, 05:09 PM
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Both Marks and Spencers and Alliance & Leicester do balloon loans (I have used both) and both do quotes on the web. I do not think their current rates are below what you have been offered so far though.
21 March 2003, 05:34 PM
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21 March 2003, 10:20 PM
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Um, mail me offline and I might be able to give you a pointer. We've just got into bed with a finance company who will be doing a killer rate from 1st April, even on small amounts...
SB
SB
21 March 2003, 10:42 PM
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Question: Why do u want a deferred payment? Is it purely to keep the monthly payments down?
A loan of this type will always cost you more overall as its a greater risk to the loan company.
A standard loan from say Tesco £10k (7.4% APR) over 2 years is £488.50 per month but will save you £260 on the total repayment. Over 3 years this saving is even higher.
Simon.
A loan of this type will always cost you more overall as its a greater risk to the loan company.
A standard loan from say Tesco £10k (7.4% APR) over 2 years is £488.50 per month but will save you £260 on the total repayment. Over 3 years this saving is even higher.
Simon.
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23 March 2003, 04:28 PM
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Liverpool Victoria and Abbey National are worth a look.
The direct line APR may look good but because you're monthly payments are low but with a deferred amount its a sham, you'll be paying interest on half the loan for the first term and end up paying back more than a similar loan without a deferred amount on a higher APR
The direct line APR may look good but because you're monthly payments are low but with a deferred amount its a sham, you'll be paying interest on half the loan for the first term and end up paying back more than a similar loan without a deferred amount on a higher APR
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