I was looking at nearly new Rapid Spacebacks on the Skoda used car website today and found one that I looked the look of. I am not keen on the PCP/Solutions finance route so looked at the traditional finance route for a personal loan.

 

I put in what I felt my car was worth and period of repayments and the quote came out at 15% interest!! Now is this normal these days? Can franchise dealers charge what they want or is this a VAG recommendation?

 

I have been looking at other cars and 0% on a nearly new Kia Cee`d with a seven year warranty looks rather inviting as the motoring press seems to like them as well. Never thought I`d fancy a Korean motor!

Edited 3 July, 201411 yr by threadbear

Point well made, another finance rip off

Go in and they will alter the interest %. 15% is pretty much worst case. I think my S-Max is something like 7.8%

It appears that every finance route at the moment is headlined towards a PCP, low payments then change in 3 years time (the thinking of some but not all people I will add). The PCP is not always a bad thing, you do not have to have a big lump at the end, you could pay more and reduce the 'balloon' to a more nomimal figure or stick that extra bit away each montn and earn on it, you won't get rich though! Bear in mind a new Rapid also comes with free servicing and 0% up to 42 months you could get in to a new car for not much more? Worth having a word with your dealer. But back to HP, at the moment you'd be better on a PCP paying a bit more to drop the GFV. 0% on a Kia that is interesting, not many manufacturers do that on used.

Hope that helps.