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Author Finance on a car?
Daniel_Corsa
Premium Member

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Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
5th Aug 06 at 21:38   View Garage View User's Profile U2U Member Reply With Quote
Been to look at a E46 BMW 318ci today but only way I can afford it is to take a loan or BMW finance scheme!

Like the car but, I see this as buying a car thats not going to be yours for the duration of the finance period!

Always in my eyes going to be owned by the dealer or bank!

Parents would lend me the extra money to buy the car but again be in debt to the old folks is something I'd rather not be in!

Would you:

Take out a loan
Take finance from dealer
Take interest free loan (bank of mum and dad)
Keep looking and saving for another car

April '06' Corsasport Feature Car | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
Robin
Premium Member

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Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
5th Aug 06 at 21:40   View Garage View User's Profile U2U Member Reply With Quote
being in debt to the parents is better than being in debt to the bank/garage

but dont take finance/a loan on a 318, its only worth it if you get something that you'll still like in 3 or 4 years
carnoisseurcraig
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Registered: 4th Jun 03
Location: Inverness
User status: Offline
5th Aug 06 at 21:47   View User's Profile U2U Member Reply With Quote
if taking finance go for a 3 year deal with a GMFV at th end.... its a guarenteed MINIMUM future valve....

When buying a BMW or any premium brand car alway haggle.... as a rule they put 3-4k front end margin on their cars....

i get sooooo many BMW, LAND ROVER, MERC customers in negative equity its unreal.....

always ask the flat rate and not the APR the flat rate should be about 5% from a garage... sometime they do special deals but expect to pay a flat rate of 5%

 
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