Contigo
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I need a car and I can't obtain credit......I have no cash either......if anyone knows a lender which accepts average credit scores let me know.....
Message me mate
I need a car and I can't obtain credit......I have no cash either......if anyone knows a lender which accepts average credit scores let me know.....
Which surprises me for someone who lives in a house the size of yours.
The lowest monthlies are on a PCP, I see no point in running it for 5 years as most people change well before then. £30k down rest on finance over 3 years at £430 per month with a £28k balloon I reckon.
What happens at the end if I don't want to pay the balloon?
Give them the keys back with a grin. As long as In acceptable condition and mileage.
There is normally some equity left as the balloons are bloody conservative
So,Give them the keys back with a grin. As long as In acceptable condition and mileage.
There is normally some equity left as the balloons are bloody conservative
So,
If you do less mileage than the agreement, does that get factored in and thT car is worth more or do they just shrug shoulders and say tuff luck!!
Looking at the figures you are quoting I guess my "comfy" spot is around the 50k mark,
I am happier to maybe finance now as I am as sure as I can be that my next contract may last 3 years, with the confidence that if it goes Pete Tong i've the cash to bail me out.
Thanks for all the advice,
I've been trying to convince SWMBO who is worse than me. but like i've said its more available for investment / student let properties..
Dave
Yup. As a general rule, lease a depreciating asset and buy and appreciating asset. Sweeping statement buy makes general sense. Cash for other things offers opportunity as well as piece of mind. For example, I make SEIS/EIS investments that offer tax breaks of up to 50% on the money invested as well as no capital gains, if there are any. This way, I effectively use money that would otherwise go to the taxman to inward invest into the SME economy, create jobs, drive invention and generally contribute.
I've been trying to convince SWMBO who is worse than me. but like i've said its more available for investment / student let properties..
Dave
What happens at the end if I don't want to pay the balloon?
So you buy to let without finance?
C
Sell the car privately and pay the balloon off anything over £28k left is yours back from the original deposit. I reckon the balloon will be more like £20k but let me know if you want my finance guy to call you.