Where to get PCP/Finance?

Pij · 10-03-2018, 08:11 PM

Have found an ex-demo F30 that I’m interested in getting for the wife but I’m not happy with the dealers APR. It’s set at about 9%, apparently because it’s a used car the APR is higher. They’re reluctant to budge at the minute, said something about the residual value.

Rather than go with their finance deal I’m thinking of getting a private PCP deal elsewhere with a lower APR to fund it. I’ve looked at Admiral finance but for some reason they just offered hire purchase, which takes the payments far too high. Is there anywhere else anyone can recommend me looking? We’d need to be looking at a 4 year PCP with optional balloon payment at the end in order to keep the monthly’s low.

Thanks in advance.

330XDave · 10-04-2018, 12:41 AM

Does your bank not offer it? My bank (Halifax) does a specific car loan where you have to give them the details of the car and they pay the dealer not you. I used it to purchase my 330d and the APR was around 5% which was roughly around the same as they were offering standard loans at.

Mikesmith2939 · 10-04-2018, 01:15 AM

Lloyds bank also offer a specific car loan at a low interest rate.

I don't think you will find many places offering PCP outside car dealers.

Tengocity · 10-04-2018, 01:44 AM

Try Oracle or Magnitude car finance. Magnitude has a good online calculator.

DB118D · 10-04-2018, 03:33 AM

Or just keep on at them. Dealers up here are having "VIP Events" just about every week now, offering low rate finance and even 0% on some used cars (although I'd imagine they're £3k too expensive in the first place)

5.9% APR should be achievable at the very worst

DB118D · 10-04-2018, 03:36 AM

Alternatively, find a new stock car that suits your needs and take advantage of the October 0% offer on saloons

creepy coupe · 10-04-2018, 03:40 AM

Quote:

Originally Posted by DB118D

Or just keep on at them. Dealers up here are having "VIP Events" just about every week now, offering low rate finance and even 0% on some used cars (although I'd imagine they're £3k too expensive in the first place)

5.9% APR should be achievable at the very worst

This. I've managed 5.9% on used BM's and Mini's.

teaston · 10-04-2018, 03:40 AM

Find a new in stock one at 0% finance PCP. I went in Coopers yesterday and they’ve got loads of them!

999rigger · 10-04-2018, 04:39 AM

you can get a bank loan from Tesco Bank at 3% up to £25000.

Abzynthe · 10-04-2018, 04:40 AM

Make sure you look at the GFV aswell as the APR as some PCP deals offer lower APR, but also a much lower GFV.

Chompers · 10-04-2018, 06:17 AM

New car will work out cheaper on 0%, even better a Pre Reg with 0%

10-03-2018, 08:11 PM	#1
Pij Enlisted Member 12 Rep 37 Posts Drives: 2015 320D M Sport Join Date: May 2018 Location: Liverpool iTrader: (0)	Where to get PCP/Finance? Have found an ex-demo F30 that I’m interested in getting for the wife but I’m not happy with the dealers APR. It’s set at about 9%, apparently because it’s a used car the APR is higher. They’re reluctant to budge at the minute, said something about the residual value. Rather than go with their finance deal I’m thinking of getting a private PCP deal elsewhere with a lower APR to fund it. I’ve looked at Admiral finance but for some reason they just offered hire purchase, which takes the payments far too high. Is there anywhere else anyone can recommend me looking? We’d need to be looking at a 4 year PCP with optional balloon payment at the end in order to keep the monthly’s low. Thanks in advance.
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10-04-2018, 12:41 AM	#2
330XDave Major 629 Rep 1,470 Posts Drives: 330d xDrive Touring Join Date: Jun 2018 Location: Nottingham, UK iTrader: (0)	Does your bank not offer it? My bank (Halifax) does a specific car loan where you have to give them the details of the car and they pay the dealer not you. I used it to purchase my 330d and the APR was around 5% which was roughly around the same as they were offering standard loans at.
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10-04-2018, 01:15 AM	#3
Mikesmith2939 Second Lieutenant 55 Rep 297 Posts Drives: 2013 320i xdrive Join Date: Jul 2015 Location: UK iTrader: (0)	Lloyds bank also offer a specific car loan at a low interest rate. I don't think you will find many places offering PCP outside car dealers.
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10-04-2018, 01:44 AM	#4
Tengocity General 8567 Rep 19,982 Posts Drives: 911, Cayenne Turbo, Disco 4 Join Date: Sep 2013 Location: Crieff, Perthshire, Scotland iTrader: (0)	Try Oracle or Magnitude car finance. Magnitude has a good online calculator. __________________ Current: Porsche 911 991 C4S, Porsche Cayenne Turbo, Land Rover Discovery 4. Gone...G01 X3 M40i, Cayman S 987, F31 340i, Cayman GT4, F82 M4 CP, Lotus Exige V6, G20 330e, F30 330e, Boxster S 987, F31 335d, Mini Cooper SD, E89 Z4, E90 330d 320d, E60 520d, E46 330d 320d, MX5s, E30 325i
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10-04-2018, 03:33 AM	#5
DB118D Lieutenant Colonel 1026 Rep 1,671 Posts Drives: 118d Sport Join Date: Oct 2014 Location: Glasgow iTrader: (0)	Or just keep on at them. Dealers up here are having "VIP Events" just about every week now, offering low rate finance and even 0% on some used cars (although I'd imagine they're £3k too expensive in the first place) 5.9% APR should be achievable at the very worst
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10-04-2018, 03:36 AM	#6
DB118D Lieutenant Colonel 1026 Rep 1,671 Posts Drives: 118d Sport Join Date: Oct 2014 Location: Glasgow iTrader: (0)	Alternatively, find a new stock car that suits your needs and take advantage of the October 0% offer on saloons
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10-04-2018, 03:40 AM	#8
teaston Banned 10995 Rep 32,881 Posts Drives: X3 M40d Join Date: May 2012 Location: The High Seas iTrader: (1)	Find a new in stock one at 0% finance PCP. I went in Coopers yesterday and they’ve got loads of them!
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10-04-2018, 04:39 AM	#9
999rigger First Lieutenant 88 Rep 314 Posts Drives: F33 4 Series Convertible Join Date: Sep 2016 Location: Sheffield iTrader: (0)	you can get a bank loan from Tesco Bank at 3% up to £25000.
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10-04-2018, 04:40 AM	#10
Abzynthe Colonel 1388 Rep 2,128 Posts Drives: BMW 440i Gran Coupe LCI Join Date: Jan 2017 Location: UK iTrader: (0)	Make sure you look at the GFV aswell as the APR as some PCP deals offer lower APR, but also a much lower GFV. __________________ Previous: 2010 F01 740d M Sport \| 2015 F36 420d M Sport Current: 2018 F36 440i M Sport (Stage 1 BM3, xHP stage 3)
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10-04-2018, 06:17 AM	#11
Chompers Colonel 1155 Rep 2,727 Posts Drives: F31 320d MSport (M) BS /CR Join Date: Mar 2015 Location: Co. Down iTrader: (0)	New car will work out cheaper on 0%, even better a Pre Reg with 0% __________________ Curent: F31 335d xDrive MSport Individual TB / OW Merino Gone: F31 320d MSport BS /CR, E61 520d MSport Bus Ed, E53 X5 V8 Sport
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