Financing an import ?
20 July 2006, 10:20 PM
#1
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Financing an import ?
Ive been told whilst looking at an import car that black horse will not offer finance on the car due to it being an import. Anyone know if this is true ?
20 July 2006, 11:31 PM
#2
Don't understand what you're doing. But just get an unsecured load (eg, Northern Rock which was 5.7% recently). They don't really care what you spend the money on. Most auto-finance doesn't actually beat an unsecured loan rate.
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21 July 2006, 01:42 PM
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personally i would avoid using car finance to pay for an import.
Speaking from experience of buying a 97 GTO using finance to fund part of the purchase.
The car turned out to be a real dog full of problems, and basically was un safe.
It took me months of a solicitor to undo all the paper work and get my money back with out screwing with my credit rating.
Will source the finance company that iused - cant remember of the top of my head, but make sure the car you are buying is sound.
Something which i admit i was guilty of!
sold on the looks alone.
just google "finance" and import cars, should bring up a few you may only be able to get terms over 3 years - depends on age though and also the insurance group - some finance companies wont go over a group 17/18
and your age.
Speaking from experience of buying a 97 GTO using finance to fund part of the purchase.
The car turned out to be a real dog full of problems, and basically was un safe.
It took me months of a solicitor to undo all the paper work and get my money back with out screwing with my credit rating.
Will source the finance company that iused - cant remember of the top of my head, but make sure the car you are buying is sound.
Something which i admit i was guilty of!
sold on the looks alone.
just google "finance" and import cars, should bring up a few you may only be able to get terms over 3 years - depends on age though and also the insurance group - some finance companies wont go over a group 17/18
and your age.
22 July 2006, 02:46 PM
#10
Look here for best unsecured rates
http://moneycentral.moneyextra.com/c...oans/unsecured
Currently, you can get 5.6% over 3 years for a £15k loan.
Tip - The best way to compare loans is by the "total repayable amount". If the finance company asks "how much can you afford per month?" then they're probably looking to shaft you on the interest rate. At the end of the conversation ask what the total repayable is and compare that with the next finance company.
http://moneycentral.moneyextra.com/c...oans/unsecured
Currently, you can get 5.6% over 3 years for a £15k loan.
Tip - The best way to compare loans is by the "total repayable amount". If the finance company asks "how much can you afford per month?" then they're probably looking to shaft you on the interest rate. At the end of the conversation ask what the total repayable is and compare that with the next finance company.
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