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Car Finance Rip Off??


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#1 polyal

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Posted 01 February 2013 - 08:11 PM

my local garage is offering £2000 ( scrappage ? ) towards a new or used car as long as i do it through
a finance company . They say i can then after 14 days pay of the balance if i want too

so theoretically if i buy a £5000 car i borrow £3000 of the finance company..then in
14 days pay off the £3000 in cash i have received £2000 for a vehicle worth
£250 ...so whats the catch

the garage says there isn't one...errrrrm!!

has anyone done this or are they taking the p***
polyal

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#2 Preee

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Posted 01 February 2013 - 09:15 PM

You just have to fully read if there are any penalty clause's written into the finance agreement .

#3 polyal

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Posted 01 February 2013 - 09:52 PM

the garage says there's no penalty clauses...so who's soaking up the £2000 ?
me thinks...too good to be true..but worth investigating further

#4 Preee

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Posted 01 February 2013 - 09:58 PM

You will be as the price's for the car are probably top price , which will be their argument for offering 2000 , but it could still be a good deal , and the finance will probably give the garage some thing as well.

i would still double check any agreement.


Long time ago i used to buy on finance and pay it off very quickly , as long as no penalty's it's a very quick way to get your credit score high

#5 polyal

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Posted 01 February 2013 - 10:16 PM

the prices for their cars are not linked to finance or trade ins...they're normal book prices
the finance etc are options..i will post what transpires...i have a meet with the garage
on monday to sort a deal??
ps this dealer is well established and respected...but can any dealer be trusted ??

#6 b1g_dav3

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Posted 01 February 2013 - 10:16 PM

It is a good deal, salesman explained it to me all the way through, only I'd save just £250 so not really worth it for me :P

#7 polyal

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Posted 01 February 2013 - 10:25 PM

so how is the £1750 ( extra to me ) explained away

#8 b1g_dav3

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Posted 01 February 2013 - 10:32 PM

Well what car are you looking at? I also won't be trading in.

#9 polyal

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Posted 01 February 2013 - 10:44 PM

the garage is a fiat distributor ( am i now banned ) its round the corner ...my endura DE has failed big time
so its £2000 for a 1999 fiesta 35van that wont start....

so it might be fiat here i come

what planet am i on?

#10 Stoney871

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Posted 01 February 2013 - 10:56 PM

My local Ford Dealer sells Fiat's too so mentioning one is acceptable (just ;) )

#11 polyal

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Posted 01 February 2013 - 11:01 PM

thank you for that...i will definitely look for a f... first ( sh..ush)

#12 b1g_dav3

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Posted 01 February 2013 - 11:04 PM

A lot will contribute just to get you through the door. They have a lot to play with in how much they charge. Go over it with a fine comb is my advice, make sure that everything suits really.

#13 polyal

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Posted 01 February 2013 - 11:19 PM

thanks..dead right ( spider to the fly scenario ) ...............top advice for anybody buying a car ( or anything else for that matter )

#14 b1g_dav3

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Posted 01 February 2013 - 11:32 PM

I'll be twisting arms tomorrow for a new Fiesta, I'm not looking for finance though so I can probably get this contribution off with a full up-front payment, or at least some of it.

#15 stuartr26

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Posted 22 February 2013 - 01:06 PM

I looked into buying a Fiesta on finance recently but there were so many catches in the deal I decided to leave till later in the year when I'll have the money buy it outright!

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