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[Andy B]

.... Sub 5% should be easy enough to find with a good credit rating. ....

Found one!  http://www.tescobank.com/loans/index.html 

[tunnie]

.... Sub 5% should be easy enough to find with a good credit rating. ....

Found one!  http://www.tescobank.com/loans/index.html 

Not hard   

Sainsbury do a 4.4% so not far off half the price of a HP 

[05omegav6]

Mock all you like...

I'll have you know my credit score is over 985

Had someone sat me down 18 years ago and explained why I should save up to buy my first car rather than borrow to buy it, then I might now be paying off my mortgage... as it is not everyone gets to take home £2500 a month for watching telly all week

[tunnie]

Mock all you like...

I'll have you know my credit score is over 985

Had someone sat me down 18 years ago and explained why I should save up to buy my first car rather than borrow to buy it, then I might now be paying off my mortgage... as it is not everyone gets to take home £2500 a month for watching telly all week

Is that good or bad, I have no idea 

[05omegav6]

0 is shit, 1000 is spot on

[05omegav6]

No, no and no...
A bank loan is as bad as leasing. The only way to finance a car is with an Hp agreement.

Stitch yourself up with a bank loan and if the car's written off then you're still stuck with the payments. At least if everything goes tits up with Hp then you're only luable for the first half of it...

Yes and no. 

Hire purchase you can hand the car back in the first half of the deal and pay half of the agreement, but once you are past the half way point you are committed to the full purchase.  Although if you want to settle early you only pay the interest up to the point that you settle. 

However, HP interest rates are generally alot higher than bank loan rates. 

Arse backwards Sir Tig

To hand the car back early without penalty, you must have made at least half the payments/paid the equivalent of half the payments (not quite the same thing)... eg a 48 month agreement with £200 monthly repayments. To end it early, you need to have made either 24 payments of £200 (£4800), or say you're four months in, then 4 x £200 + £4000 (£4800)

[Sir Tigger KC]

No, no and no...
A bank loan is as bad as leasing. The only way to finance a car is with an Hp agreement.

Stitch yourself up with a bank loan and if the car's written off then you're still stuck with the payments. At least if everything goes tits up with Hp then you're only luable for the first half of it...

Yes and no. 

Hire purchase you can hand the car back in the first half of the deal and pay half of the agreement, but once you are past the half way point you are committed to the full purchase.  Although if you want to settle early you only pay the interest up to the point that you settle. 

However, HP interest rates are generally alot higher than bank loan rates. 

Arse backwards Sir Tig

To hand the car back early without penalty, you must have made at least half the payments/paid the equivalent of half the payments (not quite the same thing)... eg a 48 month agreement with £200 monthly repayments. To end it early, you need to have made either 24 payments of £200 (£4800), or say you're four months in, then 4 x £200 + £4000 (£4800)

Yep you're right Al sorry.    and I used to work for a car leasing company too......   


.... about 20 years ago. 

[Andy B]

...then I might now be paying off my mortgage...  .....

Mine's paid off ......... and there are two cars outside courtesy of Tesco 

They might soon be joined with the charred remains of a Smart 

[Andy B]

......

I'll have you know my credit score is over 985
 .....

No idea what mine is ........... 

[Sir Tigger KC]

......

I'll have you know my credit score is over 985
 .....

No idea what mine is ........... 

Mine used to be in the high 900's but I expect it's in the low 000's now!   

[Vamps]

0 is shit, 1000 is spot on

But I thought 999 was the highest, if not I must try harder......

[05omegav6]

0 is shit, 1000 is spot on

But I thought 999 was the highest, if not I must try harder......

[aaronjb]

They might soon be joined with the charred remains of a Smart 

I'll stick the M3 next to it when you do it ..

[Andy B]

They might soon be joined with the charred remains of a Smart 

I'll stick the M3 next to it when you do it ..

I'll give you a bell & you can bring the matches. Just spent a couple of hours trying stuff on the Smart - removed & checked the SAM ... main brain & fuse box ... for water etc, nothing obvious, new key rf receiver & no joy. It's getting closer & closer to BBQ time for it