Financing

[Lennox]

Anyone got any good contacts in specialist car finance? Looking at a nearly new E63s wagon and seeing how cheap I can get it with a hefty balloon?

 

[Deleted member 149005]

Wouldn’t separate finance (eg bank loan) be cheaper?

Or a remortgage at the current low rates...

 

[unimog]

The guy that bought my W113 Pagoda funded the purchase of it with Footman James, they also do specialist sports and performance finance. This was a private sale and is the most complex of regulated HP agreements, I was paid out within 48 hours, he rated them and had done a few purchases through them.

MB Finance is probably your best bet, but early depreciation on the E63s will affect its balloon quite heavily, especially if its a pre-facelift. I would say you will still be into 1200 per month on something like that. You can have an Aston V8 vantage for a few pounds more than that if you are boiling it down to a monthly payment....

 

[Lennox]

My extension plans for this year were scuppered, so 2021 hopefully we will break ground. I don't want to have a pile of personal / unsecured lending and happy to pay a bit more to have a properly structured longer term deal with a balloon.

Just playing for now. I keep hearing about these You Tubers leasing Lambos and Ferrari for minimal amounts as the leasing companies are happy to finance the car against a huge ball on payment. See if I can get a nearly new/delivery milage car, run it for a year or so and hand it back. Face-lift will of course hurt residuals. But I think that's why there are fully loaded nearly new cars with a circa £30k discount.

 

[Deleted member 149005]

Presumably those deals are based on the car maintaining its value - far from certain in the current economic climate.

I predict many cars, albeit much more mainstream, being worth a lot less than the predicted residual / balloon...

hope you find good deal

 

[Bobby Dazzler]

My extension plans for this year were scuppered, so 2021 hopefully we will break ground. I don't want to have a pile of personal / unsecured lending and happy to pay a bit more to have a properly structured longer term deal with a balloon.

Just playing for now. I keep hearing about these You Tubers leasing Lambos and Ferrari for minimal amounts as the leasing companies are happy to finance the car against a huge ball on payment. See if I can get a nearly new/delivery milage car, run it for a year or so and hand it back. Face-lift will of course hurt residuals. But I think that's why there are fully loaded nearly new cars with a circa £30k discount.

I suspect uncertainty in the market might mean that super cheap finance deals are gone for a while on all but the most precious metal.

Manufacturers do offer special subsidised deals for celebrities though which I suspect may carry on as part of marketing budget.

Mercedes are quite open about their “supported” deals, and I dare say there are very special deals for some.

They’re doing AMG GT Roadster for £999 per month without a deposit, but celebrities and sports personalities only.

Nothing to do with residuals, more to do with shifting brand new top end stock and getting influential people seen in their cars.

 

[Deleted member 149005]

Would finance be cheaper as per on new car?
Rates seem to be <3% new but >8% used...

 

[Lennox]

Manufacturers do offer special subsidised deals for celebrities though which I suspect may carry on as part of marketing budget.

.... and getting influential people seen in their cars.

Like me?? This is me.... Honest.

 

[Mr. B]

Not much hope for me then

 

[Lennox]

I was hoping that I could get into one for circa £750-850 a month. £10k deposit with a £25k balloon. That's £65-71k over 4 years minus financing. And there are a few around £62k so a deal must be out there....

 

[Lennox]

Found one..... And bang on the money.

Right to get the A35 returned and sell it to the wife.

Anyone want a well cared for still under warranty X5 40d??

 

[Mr. B]

Found one..... And bang on the money.

Right to get the A35 returned and sell it to the wife.

Anyone want a well cared for still under warranty X5 40d??

Just a minor point. Does the wife know about your plans ?

 

[Lennox]

Just a minor point. Does the wife know about your plans ?

Yes. We discussed it. The X5s great but I really want back to a fast estate. Plus we will probably get our cash back from the deal we got on that car over a year ago.

 

[Deleted member 113659]

Found one..... And bang on the money.

Right to get the A35 returned and sell it to the wife.

Anyone want a well cared for still under warranty X5 40d??

View attachment 102334

That’ll look awesome with a Vertical Grill.

(I’ll get me coat )

 

[Lennox]

N

That’ll look awesome with a Vertical Grill.

(I’ll get me coat )

NO!!!!!!

 

[Bobby Dazzler]

Like me?? This is me.... Honest.
View attachment 102332

Just like you then. Well, just like him.

 

[Bobby Dazzler]

Magnitude Finance is a name that springs to mind,m, worth giving them a try.