So..., car finance and the struggles I'm having.
I'm going to have a quick rave. However, it may make you think.
I am currently after a ST diesel estate, plenty around, however, they are now clocking up some miles but still holding their value.
So, for the money I want to spend, 5 grand, there are cars at 88,000 (at 5.5k) to 124,000 (at 4.5k), that are in great condition with history and low ownership.
However, did you know car finance companies will not finance the cars at 124,000 as "they have to many miles on the clock"!!!???
Well, they'll finance it, but only over 18 months plus 2 on top of the price.....!
Think about that for a second.
A 5k car, plus 2k interest over 18 months..., that £389 per month.
Naturally, making it completely unaffordable :-(
Told them I could buy a 20k car if I had that sort of money.
So there we have it. Finance companies making rules resulting in cars being worthless.
Of course, I do understand why they are doing this, but we all know it's in their favour, not ours.
So, back to square one. There will be an ST diesel estate in blue on my drive...., just not this year!
Thanks for reading
Sam.
I'm going to have a quick rave. However, it may make you think.
I am currently after a ST diesel estate, plenty around, however, they are now clocking up some miles but still holding their value.
So, for the money I want to spend, 5 grand, there are cars at 88,000 (at 5.5k) to 124,000 (at 4.5k), that are in great condition with history and low ownership.
However, did you know car finance companies will not finance the cars at 124,000 as "they have to many miles on the clock"!!!???
Well, they'll finance it, but only over 18 months plus 2 on top of the price.....!
Think about that for a second.
A 5k car, plus 2k interest over 18 months..., that £389 per month.
Naturally, making it completely unaffordable :-(
Told them I could buy a 20k car if I had that sort of money.
So there we have it. Finance companies making rules resulting in cars being worthless.
Of course, I do understand why they are doing this, but we all know it's in their favour, not ours.
So, back to square one. There will be an ST diesel estate in blue on my drive...., just not this year!
Thanks for reading
Sam.