Car Finance co's?

[fivesixseven8]

I'm after some suggestions on Car Finance brokers to try. So far I've spoken with Oracle Finance and Prestige Car finance. The problem I'm having is google just seems to give me yescarcredit type companies with APR rates in the 40+% range!

[fivesixseven8]

haworthlloyd1 said:

how about leasing.

contracthireandleasing.com

Not after a new car.

Trying to sort something out on a CSL but struggling due to the age of the car.

[Deva Link]

What kind of finance - HP, PCP, lease??

[al1991]

My Dad could help, he owns an asset finance company and often finances cars (anything from Kia's to Rolls Royces).

[fivesixseven8]

Lease Purchase (HP with Balloon)

On the CSL, I've had one quote but the balloon was very low (circa £9k on a 36 months agreement.)

[Sideways Rich]

I have a friend that works at Lombard Finance and may be able to help, PM me.

[mcflurry]

AFAIk -all those applications will leave a footprint on your credit score, and may make it harder to continue

[fivesixseven8]

mcflurry said:

AFAIk -all those applications will leave a footprint on your credit score, and may make it harder to continue

I haven't made any applications, just getting quotes. I'd be screwed if every quote I'd had was an application!

[Pharoah]

I work at Lombard - how old is the car as there are restrictions on the age and balloon now?

[fivesixseven8]

Pharoah said:

I work at Lombard - how old is the car as there are restrictions on the age and balloon now?

2004

[Pharoah]

At Lombard you can only have a balloon on cars up to five years old now so I don't think you could get one on that car. You could however set up an agreement over 4 years but spreading the total cost (no balloon). The underwriters have clamped down on balloons due to falling residuals, bad debts and defaults on those type of agreements.

[fivesixseven8]

Pharoah said:

At Lombard you can only have a balloon on cars up to five years old now so I don't think you could get one on that car. You could however set up an agreement over 4 years but spreading the total cost (no balloon). The underwriters have clamped down on balloons due to falling residuals, bad debts and defaults on those type of agreements.

Thanks for that. I think it's made worse by the fact CSL's seems to be viewed as "just another M3". In contrast, a friend is looking at an S2 Exige and getting balloon values of 50% of sale price. It's a newer car but if you follow "trends" then this would mean it has more to lose not less.