Home » Car Finance Explained (Is it Right for You?) finance a car uk

Car Finance Explained (Is it Right for You?) finance a car uk

by GOTOmusic



सुनिश्चित नहीं हैं कि कार वित्तपोषण कैसे काम करता है? इस वीडियो में मैं समझाता हूं कि पीसीपी, पीसीएच, एचपी और अन्य प्रकार के वित्तपोषण कैसे काम करते हैं, जैसा कि मैं कर सकता हूं! कार खरीदने के लिए कुछ लाभ प्राप्त करना आदर्श बन गया है – क्योंकि 80% कार खरीद वित्त सौदों के साथ की जाती है, लेकिन यह जानना महत्वपूर्ण है कि जब आप इस तरह से खरीदारी करते हैं तो आप किसके लिए साइन अप कर रहे हैं। मुझे इस वीडियो की थोड़ी अलग शैली पर अपने विचार बताएं! देखने के लिए सभी का धन्यवाद! ब्रुडस (संरक्षक): – नाथन डी। – डेविडोस – विल ए। – रोवन ए। – कैलम एम। – एथन डब्ल्यू। – द जियोर्डी टाइगर – कैलम डब्ल्यू। – कैलम जी। – गेब्रियल एस। लिंक: इंस्टाग्राम – यूट्यूब – पैट्रियन – ट्विटर – संगीत: पृष्ठभूमि: मेरी (संगीत में उपहार में दी गई बहन) आउट्रो: शिप व्रेक और ज़ूकीपर्स – अर्को [NCS Release] ,

Images related to the topic finance a car uk

Car Finance Explained (Is it Right for You?)

Car Finance Explained (Is it Right for You?)

Search related to the topic Car Finance Explained (Is it Right for You?)

#Car #Finance #Explained
Car Finance Explained (Is it Right for You?)
finance a car uk
आप यहां बहुत सारी उपयोगी जानकारी देख सकते हैं: यहाँ और देखें
आप यहां बहुत सारी उपयोगी जानकारी देख सकते हैं: यहाँ और देखें

You may also like

26 comments

Apothecary Terry 07/12/2021 - 9:53 Chiều

Some things I've learned from my research and experience financing cars:
1) Don't tell a dealer you're a cash buyer- if they know you have the money to buy the car they have no reason to discount it. If you're getting finance you can get a (much) better deal as they may be willing to cut into their profits to get a sale they might not otherwise get.
2) Dealers may offer better deals on finance anyway- I know people who have said they're cash buyers and been told they can get 5-10% off simply by getting finance and paying it back literally a day later. It's pretty rare for a dealer to offer that without being asked, especially once they know you've got the money.
3) Make sure there are no fees for early repayment (or an irrelevant amount like 1 month interest).
4) It's far more comfortable if you get a longer period and pay off early instead of stretching your finances. You'll pay a tiny bit more interest but you can still save. I worked out this cost me an extra £115 over 18 months on an £8k loan, but I had a 4 year term so I could save up at my pace, then paid it off after 18 months, but I had cash if something else in my life needed it. This also negates the worry about PCP having a big payment, you're doing it anyway.
5) It's a pain in the arse getting most dealers to tell you the total amount you're going to pay. They love the monthly payments, but overall what matters is the total number of pennies leaving your account. I've only walked out on a dealer mid sentence once and this was why (complained when I got home too).
6) Make them sell you the car, don't tell them how much you want it. This isn't just a finance thing but it applies even more- because you're financing they know you want the car as you're going beyond your means, but they have to make it worth your while to do that. If you're paying the price on the window, you're getting ripped off. My current car had been discounted by 10% as the dealer didn't know what he had and it sat there for a month. I made them take another 10% off that and discount the extended warranty too.
7) Car finance is costly vs bank loans, but the protection is usually worth it, plus they usually have lower penalties for early repayment and sometimes other bonuses thrown in like attached extended warranties and servicing at low rates. The 1st car I financed actually paid its own interest off purely by the saved cost of servicing because I got a discounted rate on the service plan. Make sure to ask if there are things like this, especially if you're buying a used car which was expensive new- extended warranties aren't such a rip off if a new gearbox would be £5k.
8) DO NOT put all your savings into the deposit. Hopefully this doesn't need explaining, but if you're going into debt and leaving no savings behind that's seriously stupid. If you can afford to finance a car, you can afford to hold £1k back. If that number is too much for savings, the car is too expensive!
9) Research the finance company. If it's a main dealer then it's probably fine, but if it's not then make sure they won't screw you over. I've financed with Lexus dealers and Motonovo, both of which were great.
10) Edit here: I forgot until I made another comment that I first financed a car because I wanted credit rating for a mortgage. Big advantage, although obviously when saving for a mortgage don't finance a car for more than your savings, just get the finance, make a couple of monthly payments and then pay off the whole thing.
For context, I've done PCP twice and HP once. If you're paying back early they're both fine, HP is ideal but if you can pay less overall with PCP then do that. I wouldn't touch PCH, it can be good value but you own nothing. My view is that if you're looking at the PCH numbers you should be looking at a cheaper car instead.
New record for my longest comment? ☺

Reply
Syvah04 07/12/2021 - 9:53 Chiều

Quick question say I go to a dealership to buy a car and they want £20k for it and I got the £20k in my bank account how do I go about it ?

Reply
britishrailwayfan 07/12/2021 - 9:53 Chiều

Is there a type of finance which makes you the owner of the car at the end of the payments and also is there one where you are able to modify and edit the car during the monthly payments?

Reply
Green Videos 07/12/2021 - 9:53 Chiều

I recommend taking advantage of 0% interest credit cards when making car purchases (as long as you know what you are doing and the car isn’t a ridiculous price!). This is how I have purchased my cars : i.e with my Golf I paid for half via debit card (from savings) and paid the remaining amount (£5k) on a 0% interest credit card over 20+ months. Works well for me.

Reply
Omar Ellis 07/12/2021 - 9:53 Chiều

Quality content everytime, reliable for everything about cars 👊🏾

Reply
YWP 07/12/2021 - 9:53 Chiều

First few cars I bought were for cash, current car was on a PCP and hated it. With mileage restrictions, I just felt like I was paying £200 a month just to drive back and two to work. In the end I paid it all off in a little over 12 months.

Reply
Benjamin Boxall 07/12/2021 - 9:53 Chiều Reply
InsidiousNetwork 07/12/2021 - 9:53 Chiều

Great video, interesting to hear about other options. I've brought two cars in excess of 10k each both with bank loans on an extended period with the goal of paying off as soon as possible.

Reply
Harrison Ganner 07/12/2021 - 9:53 Chiều

Something to consider, if you want to modify your car, then having it in your name from the start is important. So using cash or a bank loan/credit card. Finance companies often don't like their cars being messed with

Reply
Ian Marshall 07/12/2021 - 9:53 Chiều

@CarsWithJB 1.5% interest Rate on Savings!? Where??????? i think savings accounts, well mine is 0.01%

Reply
B Van Dam 07/12/2021 - 9:53 Chiều

Also a review on electric cars

Reply
B Van Dam 07/12/2021 - 9:53 Chiều

Love this and now subscribed to your channel can you do a video about ulez and low emission cars in London

Reply
Alex Lear 07/12/2021 - 9:53 Chiều

You my friend are easily the best youtuber for consumer information, you deserve all the success in the world, I love your channel and I look forward to watching your vids every week

Reply
Tim H 07/12/2021 - 9:53 Chiều

Worth remembering that having an loan or finance on a car when applying for a mortgage makes a massive difference on how much you can borrow for a mortgage, in summary whatever balance you have on a loan/PCP will be DEDUCTED from your annual salary which sounds mad but is how they calculate it, this could mean a 5k balance will reduce your mortgage affordability amount by 15k or even more (based on 3.5 x your salary), so worth thinking about this before you take on any loan or finance.

Reply
44 YAM x 07/12/2021 - 9:53 Chiều

Ah I need to find a none interest finance.🤦🏾‍♂️

Reply
Issie wizzie 07/12/2021 - 9:53 Chiều

If the car is £6000 would you buy that in cash or take out a loan

Reply
Issie wizzie 07/12/2021 - 9:53 Chiều

I bought an £18,000 Lexus on PCP what’s interesting is I now have 6800 left to pay on it and the car is mine. I can either return the car and walk away I just keep it pay off 6,000 from savings ….

Reply
AviatorDube 07/12/2021 - 9:53 Chiều

That was actually really creepy when Siri said £1000 is equivalent to 1250$…bro I’d be concerned if I was you.

Reply
Pheanes 07/12/2021 - 9:53 Chiều

can you please do a video on whether it’s good or not to buy a hybrid car as a first car(just passed) , and whether it’s cheaper than a petrol/diesel car

Reply
L2 07/12/2021 - 9:53 Chiều

great vid, maybe turn the saturation down just a little. keep doing what you’re doing bro, love the vids.

Reply
Harrison Griffiths 07/12/2021 - 9:53 Chiều

Love the videos ❤️

Reply
Mitty Ahmed 07/12/2021 - 9:53 Chiều

Informative video 👍🏼

Reply
Sir. Fionn Murphy 07/12/2021 - 9:53 Chiều

This is something my business teacher has never explained to me. You are a much better teacher.

Reply
Willam Millar 07/12/2021 - 9:53 Chiều

This was as always, brilliant should be shown in schools

Reply
pennysmurf 07/12/2021 - 9:53 Chiều

This information is gold. Thanks brother.

Reply
Adam Powell 07/12/2021 - 9:53 Chiều

First car cost me £700, sold it 3 years later for £200. Glad I didn't pay £2000 deposit and £220 a month just for a newer version.

Reply

Leave a Comment