Need Ј11,000 loan for a car

A question about : Need Ј11,000 loan for a car

Hi all

We need an Ј11,000 loan for a car, are putting a Ј9,000 deposit on it, just need something to cover the rest.

Seat (who we are getting the car from) are quoting us 10.9% APR....anyone know where we can get something cheaper?

Thanks in advance

Best answers:

• we just bought a new car and the garage managed apr of 6.9% after we pleaded slighty uncertain whether we could go ahead.
  failing that a& l were 7.9%.
  remember garages are desparate for a sale.
• You can't afford this car.
• Have to agree with davetrousers on this one. Sorry.
• Blimey, never realised people bought cars over 54 months.
• Op,
  Whilst I appreciate your OH wants a treat after working so hard, I am sure he could have an equally nice treat for the Ј9000 he has to use as a deposit. To pay this much for a vehicle over the next 5 and a bit years is madness and certainly not very MSE. The car will depreciate in value the minute it is driven from the forecourt. Sadly circumstances can and do change, this is a massive commitment and I am sorry but I do have to agree with other posters that to consider a loan for this amount is madness.
  Just have a look around there are cars a plenty for Ј9000 or less and I mean serioulsy nice cars.
  Sorry OP if this isnt what you wanted to hear
• Nice cars for more than 200HP?? that come with the manufacturer warranty???
  My OH wants a car.....he was looking for a Ford Focus RS which is around Ј25,000......in the meantime we saw the advert for the Seat Leon FR which is a little less powerful and a lot less cheaper!!!
  I am the money saver of the couple, and managed to get him to see a bit of sense with this car......
  If you have nothing nice to say dont say it at all!!!!
  ALL WE WANT TO KNOW IS WHERE WE CAN GET A Ј9,000 LOAN!!!!!! THATS ALL!!!!
  DONT WANT ANY DIGS ON OH YOU GET A CAR FOR CHEAPER THAN THIS......ITS THE 2010 MODEL HE WANTS AND ITS A FACTORY ORDER.....
  WE JUST WANT TO KNOW IF THERE IS ANYWHERE WHERE WE CAN GET A CHEAPER LOAN THAN THE 10.9% WE WERE QUOTED BY SEAT!!!!!
• Agree with above also...
  Are you able to post links on this forum? - i.e. a quick search of autotrader shows a 2009 Seat Ibiza with 2000 miles on the clock for Ј8,995
  Sparklygemster - what would you do with an extra Ј3.5k a year (that is spent on capital and interest)?
  If you think a car is worth this then so be it - after alliance and leicester First Direct do and 8.9% but with 10% cashback loan (apparently works out at 8.1%)
  And no five year debt!
• [QUOTE=sparklygemster;24091277]Sorry but youre wrong, finance for 5 years with seat is less than Ј300, OH can afford over Ј300 in finance for the 5 years, did i mention in the first post what we could afford....NO!!!!
  for 54 months with Seat at 10.9% APR will be just over Ј300 a month which we can easily afford.
  An advance of Ј11000 over 54 months at 10.9% APR would be about Ј258 per month?
  An advance of Ј11000 at 10.9% flate rate - ie approx 20% APR would be approx Ј303 per month?
  Is the dealer trying to confuse you on the difference between flat rates and apr's?
• This is going to sound harsh, but it has to be said: Drop the attitude Gemster, it's really not helping you.
  On a forum like this, it is unlikely you will get a single answer to a single question. Your circumstances as described do say "we cannot afford this". The true money saver would save what you are missing and refuse to finance any part of it at all. No one has given you bad advice. You've just not heard the advice that's been given.