saving up vs financing for new (2ndhand!) truck

[porky]

Thanks for that. Unbelievable the Dealers can't get it right! I wonder how many sales they have lost.

[gensetsteve]

Thanks for that. Unbelievable the Dealers can't get it right! I wonder how many sales they have lost.

 

I dont think the dealers care less about selling defenders especially to working people. Why would they when they can sell vogue to a wag for 100k. I tried to buy an ex demo disco 4 van 18 months old 60k on the clock and they wanted £1500 less than new price. When I haggled they were down right rude.

[arbmark]

don't mind the derail one bit, and anyway thanks for all the input chapfths!

[Jonny69]

I used to buy a new vehicle and save up half the cost put the rest on a personal loan. If you put it on hp its easier for them to snatch it back and leave you with nothing if you default on payment. I never intended to stop payments but in these times you never know when a breather might be needed. If its on a personal loan and you have paid a large part off they will struggle to get your truck especially if its essential to earn a living. After loads of problems with new trucks I now run 4 olds ones all now over 10 years old. New diesels have become far too electronic and unreliable.

 

This is a tricky one. As you may lose more than just the car/truck by using personal loans!

 

arbmark, on the original issue. Depends how old the vehicle you wish to finance is. You may well find that you pay a large premium for financing an older vehicle (i.e more than three years old and the premium will rise with the age)

 

I was chatting with a salesman from Ford commercials on Wednesday. They offer an exceptional package on their new Commercial vehicles. 3.5% flat with two £10 admin fees and a deposit of just the VAT. This is pretty well unbeatable for normal people unless they are buying and financing a lot of machinery every year.

 

If you buy an older vehicle and finance you could pay 2-5x that for the privilege. Plus you still have no warranty and an old truck.

 

BTW I do not work for Ford just was very surprised at the finance package they were offering. They must really be desperate to shift new Vans.