cheap lotus finance

Pat02 · Post by **Pat02** » Fri Jan 20, 2006 10:33 am

Morn,
I got a brochure yesterday, from Murray Motors (see, pay for one service and they write to you forever, they even sent me a Chritmas card)
any way I digress. Buy a new Lotus through them, pay a deposit of £3,300 and the monthly payments are £399 and the apr they will charge is only 3.9%. There is a website to check it all out on.

http://www.getintoalotus.co.uk

Not too shabby a deal at all (assuming you have the deposit handy, just lying around, down the side of the sofa, in that small pocket in the front of your jeans)...time to stop now.......

well better start work now, drop back in later, see ya.

Lazydonkey · Post by **Lazydonkey** » Fri Jan 20, 2006 10:38 am

The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......
The last thing i need is a new car......

...there all sorted now

ninja · Post by **ninja** » Fri Jan 20, 2006 10:44 am

OTR Price - £30,705.00
Deposit £4,300.00
36 Monthly £399.00
Payments Final £14,595.53

yeah but you have a HUGE final payment!!!!

ninja

mac · Post by **mac** » Fri Jan 20, 2006 10:44 am

Had a look at the website - MMC Glasgow ISN'T listed as a Lotus Dealership.

Mac

Lazydonkey · Post by **Lazydonkey** » Fri Jan 20, 2006 11:01 am

Yeah last time i was in Gavin said it wouldn't be long before it was just american stuff there.

mac · Post by **mac** » Fri Jan 20, 2006 11:16 am

When I got my elise the finance was £225 per month, with of course the CBP at the end.

(CBP - Cripling Ballon Payment)

Post by **Shug** » Fri Jan 20, 2006 12:10 pm

I wonder if the 3.9% would also apply with a trad HP deal? (as I took out,
to avoid the CBP)

Certainly, you'd have trouble finding any lender on the high street willing to beat it....

kenny · Post by **kenny** » Fri Jan 20, 2006 12:55 pm

Shug wrote:I wonder if the 3.9% would also apply with a trad HP deal?

Nope but they still do a reasonable APR compared to the cheaper personal loans, erm apparently

mckeann · Post by **mckeann** » Fri Jan 20, 2006 1:15 pm

if you need finance, is it not better to add it to your mortgage?? My mortgage rate is only 4.25%. that way theres no CBP at the end.

personally, i hate finance, so tend to only buy things i can afford with cash.

mac · Post by **mac** » Fri Jan 20, 2006 1:31 pm

Neil,

The only problem with adding it to your mortage is that you'll be paying for it for the rest of the mortgage term (20years or so) makes less of a dent in your pocket but costs way more in the long term.

Best way is cash although I wish I knew that when I was younger

Mac

Rag_It · Post by **Rag_It** » Fri Jan 20, 2006 1:41 pm

A balloon payment is good if you need to keep your monthly payments lower, otherwise pay as much as you can afford.

That comes from the mouth of a Finance manager in the Motor Trade!

Cheers,

Dave

The_Rossatron · Post by **The_Rossatron** » Fri Jan 20, 2006 2:37 pm

Even if you paid it all up front you may lose £399 a month in depreciation on a brand new Elise?

I'm quite tempted to go down this baloon payment thing even though I used to hate them. Say you get 18 months into your deal and decide you want to give the car back what happens?

mac · Post by **mac** » Fri Jan 20, 2006 3:34 pm

I'm sure a call or PM to Pauline will answer all your credit questions

Mac

alicrozier · Post by **alicrozier** » Fri Jan 20, 2006 4:43 pm

mckeann wrote:if you need finance, is it not better to add it to your mortgage?? My mortgage rate is only 4.25%. that way theres no CBP at the end.

personally, i hate finance, so tend to only buy things i can afford with cash.

Cheapest form of finance.

Ali (save up faction)

mac · Post by **mac** » Fri Jan 20, 2006 4:45 pm

alicrozier wrote:
mckeann wrote:if you need finance, is it not better to add it to your mortgage?? My mortgage rate is only 4.25%. that way theres no CBP at the end.

personally, i hate finance, so tend to only buy things i can afford with cash.
Cheapest form of finance.

Ali (save up faction)

And they say working in the petrol chemical industy doesn't pay

Mac