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car finance plan

  • 22-01-2013 6:13pm
    #1
    Amprodude
    Registered Users, Registered Users 2 Posts: 4,034 ✭✭✭


    Can someone explain to me how this works? I am interested in changing my car soon and instead of blowing all my savings on a car. I would like to pay installments monthly like direct debit or something. Can this be done? I have never bought a car from a dealer before so looking for advice.


Comments

  • #2
    monkeypants
    Closed Accounts Posts: 2,386 ✭✭✭monkeypants


    Why not just get a loan? Can then bargain with the dealer as you'll be paying cash.


  • #3
    ofcork
    Registered Users, Registered Users 2 Posts: 5,442 ✭✭✭ofcork


    With finance you will need a deposit which can be up to 30% depending on the car and you wont own said car until fully paid off,or do the bmw/audi thing and pay a deposit 3 years of payments and a hefty final payment.


  • #4
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    You can go for bank loan, credit union loan or dealer finance.
    There are some reasonable finance deals now on new cars from the dealers. Banks seem to be looking for crazy interest rates these days.
    You put down whatever amount you want. 10% upwards I would think then pay over 3 to 5 years.
    You can also get lower monthly payments by using a balloon deal where you owe a large lump at the end of the deal. If can suit sone people.


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