Cars on finance

[Starburst..x]

Just wondering how many people on here have their car on finance?
Only because I'm looking to buy a new car towards the end of this year and was hoping to put it on finance. Ideally Im hoping to save up the bulk of the cost of the cars I'm looking at but will perhaps need to put the last little bit on finance.
So yeah for those that do have finance I was just wondering how much you pay for it (if you dont mind saying) and whether it's worth it at all.

[Metric1]

I did, but it's paid off now.

[Martin]

My car is on finance, was 5 grand over a 5 year contract.

I guess it depends where you go etc, but the interest can be quite high- I pay around £130 a month, and will do so for the 5 years to pay for my car.

I would say it's worth it though if you are going to need to use it a lot (I use mine daily) and for comfort reasons etc its just nice to have a modern car rather than an old banger (which was horrible)

[danzooo]

mine is on finance, £100 a month for 3 years roughly.

[Metric1]

My car is on finance, was 5 grand over a 5 year contract.

I guess it depends where you go etc, but the interest can be quite high- I pay around £130 a month, and will do so for the 5 years to pay for my car.

I would say it's worth it though if you are going to need to use it a lot (I use mine daily) and for comfort reasons etc its just nice to have a modern car rather than an old banger (which was horrible)

what kind of interest rate did you get.. thats horrible!

[tdi]

never have and hopefully never will get a car on finance. I'm on to my 4th car now and I've paid for them all with hard earned wages. I can't stand it when people who have no interest in cars whatsoever get a brand new car off mummy and daddy either.

[Martin]

what kind of interest rate did you get.. thats horrible!

It's quite high! I got a load of extras too though, like I had to take out these safety policy things for peace of mind (can't remember what they're called)- but that bumped it up a bit too.

It's a good job I work

[GommeInc]

Mine is on finance, like £226 a month for 3 years. I fell in love with the new Fiesta when it was coming out so I put it on finance to save myself from imploding waiting to save up for one. If you've got the money to pay for most of it in one go, then you may as well put it on finance so when it comes to the end of the agreement (where you usually have to pay a lump sum to pay off the rest of the car), you can pay it off with the money you've acquired within the number of years you've had the finance.

[Starburst..x]

never have and hopefully never will get a car on finance. I'm on to my 4th car now and I've paid for them all with hard earned wages. I can't stand it when people who have no interest in cars whatsoever get a brand new car off mummy and daddy either.

That's one of the reasons I want a new car because I do hold a high interest in cars and I've been driving now for three years so something a bit more powerful than what I've got is perfect. Obviously I'd love to pay it all off in one go but Im at uni as well so it's just not possible, however trust me Ive been working my arse off to get some savings.

Thanks guys though for your opinions Im hoping to get a new car soon otherwise I genuinely might implode ahaa

[Swearwolf]

bit of advice... get a loan instead and buy the car outright. miss a payment on loan you get an extra charge, miss a payment on car finance = lose the car usually