finance with a balloon payment on a 360

[Cmurder]

Anybody know of a finance company who offer a finance package with a balloon payment on a ferrari 360?

age wise we are looking at year 2000 cars.

thanks

[jdw1234]

http://www.classicandsportsfinance.com/

[Cmurder]

enquiry sent cheers

[rfoster]

Me too: www.meridian-finance.co.uk (feel free to message me directly on here!) Cheers, Richard

[Cmurder]

pm sent richard

[Zippee]

rfoster said:

Me too: www.meridian-finance.co.uk (feel free to message me directly on here!) Cheers, Richard

What are the average APRs at present for this sort of finance? I've had some initial quotes from Oracle on an R8 and their quoting 9% which seems pretty high to me, though as I understand it they always play the high number first prior to negotiation.

[Kudos]

Zippee said:

What are the average APRs at present for this sort of finance? I've had some initial quotes from Oracle on an R8 and their quoting 9% which seems pretty high to me, though as I understand it they always play the high number first prior to negotiation.

Lowest I've seen is 5.9%.

Richard is very helpful and should be able to sort you

[Haggleburyfinius]

Just out of interest, are these odd (i.e. old ferrari) loans secured on property or the car?

What type of deposit is required?

Reason I ask is that the Mrs and I are thinking of buying an old ish 430. We were going to buy cash as I didn't think finance was available on cars of this age.

[Cmurder]

secured on the car i believe, ive got some good quotes already !!

[Haggleburyfinius]

Cmurder said:

secured on the car i believe, ive got some good quotes already !!

Spit it out then...how are the numbers breaking down for you?

[Cmurder]

Purchase price £37,950.00
Deposit of £5,000.00

Repayable by:

1. 48 monthly payments of £689.00
and a final balloon payment of £11,385.00

or

2. 60 monthly payments of £737.91
and no final balloon.

just some examples on a 2000 plate 360

[airportparking]

I tried a few years ago on a vanquish, was working our quite reasonable with a big balloon which I didn't mind

[Haggleburyfinius]

Cmurder said:

Purchase price £37,950.00
Deposit of £5,000.00

Repayable by:

1. 48 monthly payments of £689.00
and a final balloon payment of £11,385.00

or

2. 60 monthly payments of £737.91
and no final balloon.

just some examples on a 2000 plate 360

ETA not reasonable at all! that 60 month option is 12.9%. Given base rate right now, that's some seriously expensive funding!

Edited by Haggleburyfinius on Saturday 16th March 18:31

[qureshia]

Cmurder said:

Purchase price £37,950.00
Deposit of £5,000.00

Repayable by:

1. 48 monthly payments of £689.00
and a final balloon payment of £11,385.00

or

2. 60 monthly payments of £737.91
and no final balloon.

just some examples on a 2000 plate 360

My basic maths suggests that is circa 11.5% APR on a £32K secured loan - seems a bit rich ??(and this assumes they are no other fees)
I know it is not the same but you can get an unsecured loan of up to £25k from the high street (i.e. Tesco bank at 7.4% APR)

[Cmurder]

thats one deal, ones ive had since are around 560-570 ish per month same terms,