Good finance recommendations

[Brizzle]

On the back of my last post, I've viewed a few more cars and found 1 I'd like to buy. I've spoken to the recommended finance guy at the dealer, but wondered if anyone on here had recommendations for companies that offer competitive finance.

The apr and frontloading of interest I was offered didn't seem particularly appealing!

Thanks

[gl20]

Hi. I've not looked for a while but seem to recall someone saying Lombard was doing good deals right now. What is for sure is that probably any lender will give you a better deal than Porsche Finance. They're no different to any other in-house dealership finance package really - they prey on lazy people! That said it can be convenient so best you find the best deal you can and then show it to them - there is a good chance they will offer to match.

The front loaded bit doesn't sound great but it's all smoke and mirrors if you ask me. Unless I'm mistaken it simply means interest will be charged on the outstanding balance at month/day end which will of course be higher in earlier months since you're capital balance will be higher. That's no different to most loans, including the one you use to buy a house. If they offer the reverse and say they are letting you pay more capital up front then, unless they've managed to do the same with their own financier, they will have to recoup the net interest they will lose as the middle man by charging you a higher APR. So, in that respect, it comes out a wash.

So if you are looking at other deals out there then if possible make sure you are comparing like for like in terms of how they calculate/accrue interest not just which gives you the best rate. In fact, unless you think you will default half way through then the safest/easiest thing is probably just to ask them the total amount of all payments and charges and see how they compare!

Good luck with the purchase. Took mine out for a really long drive this weekend - it's worth the monthly payments..

[J-P]

Try Jamie at Eurolease - he did the finance for my GTS and was excellent and he's got the business for the Evoque we're picking up at the end of the month. Excellent customer service and a top bloke - has always beaten quotes from any manufacturer finance team.

Good luck with the purchase!

[Brizzle]

Thanks for the info, will have a chat with Lombard tomorrow

J-P - is the Eurolease you mention this one?

http://www.performancecarfinance.co.uk/


Thanks again.

[J-P]

Brizzle said:

Thanks for the info, will have a chat with Lombard tomorrow

J-P - is the Eurolease you mention this one?

http://www.performancecarfinance.co.uk/


Thanks again.

That's the one! - Great company!

[TurboScab]

Jamie at Performance Car Finance is an ace guy. He recently did my F430 Spider for me. Competitive rates and brilliantly efficient and helpful - he couldn't have made the deal any easier.

Highly recommended.

[Old Trout]

I used Lombard - I can give you a personal connect if that helps. He did me a good deal and he did allow me to negotiate a bit.

Porsche Finance were lazy, useless and absurdly expensive. The APR I ended up with was half what I got with Porsche and also beat the 'specialists' on here.

Where Porsche are good - they give very high residuals compared to market players and so give what seem like very low monthly payments - the TCO is not good however.

As ever, it is worth shopping around.

[Brizzle]

Old Trout,

If you wouldn't mind giving me your contacts details, that'd be great.

Thanks.

[Diesel130]

Brizzle said:

...but wondered if anyone on here had recommendations for companies that offer competitive finance.

The apr and frontloading of interest I was offered didn't seem particularly appealing!

Thanks

Yes. Over the years, I've found the most competitive deal is to go to your own bank and ask to withdraw some money out of your own deposit account

[Old Trout]

Brizzle - done



Diesel - what is it they say about sarcasm?