Discussion
Just been looking into changing the punto and spoke to a few dealers, was unsure if to have finance or cash, spoke to VW and they are saying their finance rate at present is just over 7% seems a bit steep to me dont know what you guys all think? first dealer ive spoke to in great depth but still seems a bit much given what bank loans are at present, or is this just me being silly?
What the banks are advertising and what you'll get can be as different as night and day. Firstly they'll advertise a 'typical rate' based on a few assumptions, if you borrow more/less the interest rate will normally vary on a sliding scale. Also, be aware that banks don't have lots of money to lend so won't fight for your business, if you don't have an excellent credit rating/profile they may still lend, but offer an alternative rate.
Make sure you know what you can actually get from a bank before you throw the dealer's finance offer back in his face, the rate quoted isn't bad if its APR.
Oh, and to keep 'PH' about this - finance bad, saving good....and so on.
Make sure you know what you can actually get from a bank before you throw the dealer's finance offer back in his face, the rate quoted isn't bad if its APR.
Oh, and to keep 'PH' about this - finance bad, saving good....and so on.
madmover said:
Just been looking into changing the punto and spoke to a few dealers, was unsure if to have finance or cash, spoke to VW and they are saying their finance rate at present is just over 7% seems a bit steep to me dont know what you guys all think? first dealer ive spoke to in great depth but still seems a bit much given what bank loans are at present, or is this just me being silly?
Your profile says you're an IFA!yellowbentines said:
homerjay said:
and they are talking s
te, because thats what dealers do.
No, they're running a business, why would they offer the lowest rate as a starting point in negotiations, it's up to 'Joe Public' to be savvy and do a bit of negotiating.te, because thats what dealers do.te though does it?homerjay said:
doesnt mean they are not talking ste though does it?
Not neccesarily the way I'd put it, but if a dealer tells me that that's their best interest rate on offer, I'd be inclined to try and negotiate, rather than insulting him or storming off in a huff insiting he's talking ste though does it?te - that's not really the best way for everyone to conclude a deal they're happy with is it?Gassing Station | General Gassing | Top of Page | What's New | My Stuff