Non bargins

[Satch]

You would have thought that in these really dire times reality would have dawned by now. But no.

Yesterday I saw a C63 saloon in a dealership. 58 plate, 7,900 miles. List new is about £50K but it was fully loaded and so had about £10k worth of whistles and bells on top.

How much do you reckon they were asking?

 

[wemorgan]

Autotrader has those cars £42k-£49k. Seems like a lot of money to me. But I've been reading that prices of s/h cars are rising as fewer people are buying new cars.

 

[yachtman]

dealers dont want to sell new cars either

went to a vw dealer about a new fox for daughter

wanted 8% interest, ie bank rate+7.5%!!!

where do they get such margins from!!!

 

[wemorgan]

My bank, Natwest charge 12.4% for a loan of £6500. Maybe 8% isn't so bad after all.

Have just check Money Supermarket and 8% from Sainsbury's looks to be one of the cheapest at 8.1%

 

[flango]

8% ish isthe going rate you wont better it at present, despite what we keep getting told, Banks and finance institutuions still do not want to lend at present.

 

[Dieselman]

wanted 8% interest, ie bank rate+7.5%!!!

where do they get such margins from!!!

Finance houses don't get money at BOE rate, they get it at LIBOR, which is high at present.

Isn't cheap finance what got us in this mess..?

 

[st4]

I got 8.1% last year on HP.

Interest rates may be higher for PL's at present also because of the greater risk of default as job security is at an all time low.

 

[Deleted member 11979]

Put me out of my misery, how much was it?

 

[Smiley]

£57500

 

[JasM]

£46500

 

[hawk20]

dealers dont want to sell new cars either

went to a vw dealer about a new fox for daughter

wanted 8% interest, ie bank rate+7.5%!!!

where do they get such margins from!!!

They cannot borrow at Bank Rate any more than you can. You may have heard of the credit crunch?

 

[yachtman]

They cannot borrow at Bank Rate any more than you can. You may have heard of the credit crunch?

yes I have , but paying 3.9 % on another , aranged when bank rate was above 4% so expect similar good deal on what is an optional purschase.

 

[st4]

yes I have , but paying 3.9 % on another , aranged when bank rate was above 4% so expect similar good deal on what is an optional purschase.

Are you on a PCP or HP?

 

[The G.F.P]

they are all on nhs crack

 

[Aoraki]

Just financed replacement van and got 6.2% with Lombard.

 

[MrT]

Finance houses don't get money at BOE rate, they get it at LIBOR, which is high at present.

Isn't cheap finance what got us in this mess..?

I think the amount of credit and granted to people unable to service that amount of debt was what caused it... the cheapness or otherwise is just incidental.

If they really wanted to sell cars then the finance would be subsidised, plenty of manufacturers offering 0%, MB was (still is?) offering 5-6% on some models.

 

[maek11]

luxury cars are getting shipped out abroad to sell over there as the pound is weak and no one is buying. there are container ships full of cars leaving daily.