Board logo

Where's the best place to get a Car Loan
John P - 17/5/08 at 05:12 PM

As above really.

Any recommendations?

Simon - 17/5/08 at 05:20 PM

http://www.moneysupermarket.com/loans/?p=0&bbcam=Adwds%5FLoans&bbkid=car+loans&x

In the past, I've always used A&L, though for the latest one I went to my bank (HSBC) as I intend to pay it off quite early.

ATB

Simon

zilspeed - 17/5/08 at 05:24 PM

quote:
Originally posted by John P
As above really.

Any recommendations?


Right, first things first - never ever ever take financial advice from me.

Ok ?

Right, let's crash on.

How long do you want to pay it over ?

If a year is long enough, you'll easily find a card which allows 12 months interest free on purchases. The Interest does the usual thing after that and goes through the roof. If two years is long enough, you could tart the balance to another card for another 12 months interest free and get two years interest free.

That's it I'm done.

I would suggest having a look at Martin Lewis' site - www.moneysaving expert.com

joneh - 17/5/08 at 07:58 PM

The interest rates are crap at the moment. I just got a 12 month 0% credit card from HSBC if that helps...

Humbug - 17/5/08 at 08:40 PM

I would also recommend Martin Lewis's Money Saving Expert site.

I funded part of the missus' car purchase through a life of balance credit card. At the time (2.5 years ago) it was available at 3.8%. I did it by transferring balances from other cards to the amount I wanted to "borrow". If you work out how much time you want to pay back over and DO NOT MAKE ANY PURCHASES, you pay the same rate of interest on the remaining balance until you've paid it off.

JoelP - 18/5/08 at 07:55 AM

i recently got a 7.5k loan for a new van, as dealer finance is rubbish. Best i found via moneysupermarket, was the AA at either 6.9 or 7.3%. That worked out to 338ppm over 2 years.

t.j. - 18/5/08 at 09:40 AM

Want real advise?

Do not loan!

Only loan for a home or something which survive inflation.

So buy a cheaper one, or build your own.

grtz