Best way to borrow money for a car?
Best way to borrow money for a car?
Author
Discussion

MartynHa

Original Poster:

15 posts

156 months

Wednesday 9th October 2013
quotequote all
Hey,
I'm thinking about buying a 2nd hand Porsche (£20-25k) and wondered if there is any better way of borrowing the cash other than a insecure personal loan at around 6.9% APR over 5 years. I've got a good credit rating and paying back isn't an issue but is there a better or cheaper way of doing it?

M

rfoster

1,482 posts

284 months

Wednesday 9th October 2013
quotequote all
Might be able to improve on that on a regulated car finance agreement, happy to send figures by PM if this would help.
Cheers, Richard

MartynHa

Original Poster:

15 posts

156 months

Wednesday 9th October 2013
quotequote all
rfoster said:
Might be able to improve on that on a regulated car finance agreement, happy to send figures by PM if this would help.
Cheers, Richard
That would be great if you could - send me a PM with what info I need to supply.
Ta,
M

rfoster

1,482 posts

284 months

Thursday 10th October 2013
quotequote all
YHM

Dunk130TC

328 posts

220 months

Thursday 10th October 2013
quotequote all
Split your loan between Sains and tesco and get both at 5.1%

Froomee

1,503 posts

199 months

Friday 11th October 2013
quotequote all
Remortgage and over pay monthly assuming you can overpay each month with no fees/penalties?

Napper

120 posts

242 months

Sunday 13th October 2013
quotequote all
Froomee said:
Remortgage and over pay monthly assuming you can overpay each month with no fees/penalties?
This is probably the cheaper option given the current interest rates