Just wondered if anyone who has bought a Superb (or any Skoda for that matter) using Skoda's PCP package managed to get a lower rate than the advertised 7.9%...? I notice Ford are offering rates as low as an equivalent APR of 4.9%.

Just wondered if anyone who has bought a Superb (or any Skoda for that matter) using Skoda's PCP package managed to get a lower rate than the advertised 7.9%...? I notice Ford are offering rates as low as an equivalent APR of 4.9%.

Hi, I didn't use Skoda's finance "offer" but here's a thought for you depending upon how you're fixed. We had manage to overpay our mortgage over the past decade & in essence we just "took back" what we'd overpaid.... with Nationwide if you've got a mortgage (ours was a repayment mortgage) the rate is 2% over Base.... (so currently still 2.5%... phew - but only valid if your mortgage is around 2 years old or more.... once the recession hit this 2% clause/rate went up to about 4% above base.

This is probably the cheapest way to finance youur car if this options available to you. looks like most other rates are around the 8% mark give or take.

Hope it helps....

Thanks for the info... I'm in an interesting situation with my mortgage, in that I pay 0.25% over the base rate When we went to bank recently to look at new mortgages for another property we were basically told that they are losing money with our current mortgage, but that's their hard luck... As the outstanding mortgage can be transferred to another property, there's no incentive for us to pay it off early as we'd never get a rate as good as that again.

Edited 5 January, 201115 yr by Superbalicious

Current Skoda PCP APR is 7.5% - at least according to my paperwork signed yesterday.

Thanks for the info... I'm in an interesting situation with my mortgage, in that I pay 0.25% over the base rate When we went to bank recently to look at new mortgages for another property we were basically told that they are losing money with our current mortgage, but that's their hard luck... As the outstanding mortgage can be transferred to another property, there's no incentive for us to pay it off early as we'd never get a rate as good as that again.

Hmmm that's a pretty good rate you got there!! So yup... don't change it! (Lucky s**!)

Then I don't suppose borrowing more against your current property is really an option/consideration? Re-mortgage or a Home improver loan? New windows, re-wiring, alarm, insulation.... something that costs enough to borrow the required amount (but not building work - as the Bank may wish to see evidence when completed). I'd imagine that if they will lend you the money - secured on the property - for whatever plausible reason is given (assuming you're happy doing that) then I would have thought a rate of under 5% must be achievable.

Infact if you have a look on Moneyfacts.co.uk (http://moneyfacts.co.uk/compare/mortgages/remortgage/) there's a rate from First Direct APR 3.9% - FIXED (borrow over £10k - but max £1mil, repay within 5 years, LTV 65% ie. at least 35% of property is your equity).... have a look worth considering if you can, but you might have to deny its for a car... A few years ago there would be no questions asked, now its probably different.... just make sure you can pay it!!!

Good luck, Rgds

Stef

Edited 5 January, 201115 yr by sk8tergirl