ok,but if i was to buy with finance it would cost more i.e. payin off over the 4years etc.

ok,but if i was to buy with finance it would cost more i.e. payin off over the 4years etc.

Yep. Unless you got it on 0% finance.

In the long run it would cost you alot more, including the devaulation of the vechicle and all that...

In the long run it would cost you alot more, including the devaulation of the vechicle and all that...

Well now uve just made me feel guilty about my loan :(

id prob go thru a bank for a loan and buy car ourright or OTR

your confussing me, even if you'd bought a car with HPI, the price would still be quoted as OTR.

your confussing me, even if you'd bought a car with HPI, the price would still be quoted as OTR.

If you purchase your car and you obtain your finances through the bank then the car is your outright.

This type of loan is often an unsecured loan which means basically that. Where a secured loan is often secured against your house or other large assest.

As previous threads have said OTR is on the road price and includes registration fees etc. This does not include any interest from a loan.

However if you get a loan from the dealer then the car is effectively the finance company and you cannot sell the vechicle until all the loan is payed off.

Banks have often the cheapest finance though bargain hard and the dealers will be able to match the banks. Always always look at the APR and never never fall into the trap of dealers asking how much you can afford each month.

The lower the APR the better the finance. Typical figures that are available range from 5.9% to around 8% never pay more than this.

If you have a low credit rating then the situation becomes more complex, and there are special companies out there that are supposed to guanantee you finance. However please please beware they charge very very high APR's RANGING FROM 19 OR EVEN 29 % apr.

Hope this sorts any confusion.

Tony

Don't forget to obtain a quote from Skoda Finance, which is part of Volkswagen Financial Services. Tbe dealer earns a commission from this which could be used for leverage, and beat him down on the APR (he is able to reduce this no matter what he says). Your APR is in his hands!

IIRC OTR includes 12 months VED,

they might offer a low % but they make it up with the insurance I found' date=' I found Nationwide to be the cheapest including insurance. I think you'd be mad not get a loan without insurance these days.QUOTE']

Depends...I'm guaranteed full pay for 6 months - if I have to be off work longer than that, we'd lose a lot more than the car...so we haven't bothered.

idont have a credit rating at all,just finished uni and started new job.mite try get dealer to give good interest rates and apr???

Everyone has a credit rating, some peoples are good and some peoples are bad, some people know they have a good one and some people know they have a bad one

mines down the pan then.so dealer it is then.

If it's any help I have a bad credit rating from being a real tool in my younger days and I got credit through a dealer.

yea thats my prob jus left uni and finaly makin money(small amount at that)

Being on the Electoral Role, having a permanent address and the type of residency, not having any CCj's, having a bank account, not being bankrupt, having a job, etc, etc, etc all contribute towards a credit score from which the finance company can make a decision. Give 'em a try, after all the dealer wants to sell you a car, and the finance company wants to lend you the cash - they both need your custom.