New car finance

Gumbo

Guys, a friends has asked me the following (as I'm a car fan) according to him, but I've never chased finance before as I've never really spent that much on cars over the years, one sale always yielded enough profit to get a small credit union loan to buy the next and so on.

Anyway, she is looking at a new 142 Leaf priced in and around 26k.
She has a trade in of 11k but owes 6k on that to her credit Union.

So she will need approx 21k to buy the car when all is said and done. Nissan have options available, but is there any point looking privately between the banks herself or would the dealer be getting the best rates nowadays?

Thanks?

air

Would she not consider a 2nd hand one?
A 2011 could be picked up for about 10k & would be very close in specification to the best 2014 spec available.
26k is a lot to pay for a car for someone with only 5k for a deposit, possibly not even enough for a PCP deal.

Gumbo

air wrote: »

Would she not consider a 2nd hand one?
A 2011 could be picked up for about 10k & would be very close in specification to the best 2014 spec available.
26k is a lot to pay for a car for someone with only 5k for a deposit, possibly not even enough for a PCP deal.

I'm not sure but I've looked into the Leafs myself and the newer one has. Wetter range and better heater functions so it's a more attractive car.

Have you any links to the 2011 cars for 10k so I could show her?

The leaf is already a love/hate kind of car so you would want some creature comforts to make it a nice place to be.

The SVE is miles ahead of any of the previous versions but I'll deffo pass it on.

She's already been offered figures on 5 year finance or 3 year PCP so they must be ok with her deposit?

BMJD

Tell her to visit as many Nissan dealers as she can and get finance quotes. I bought a Nissan in 2010, I got 3 different rates from 3 branches of the same dealership and all 3 wanted different minimum deposits. I also got 3 different trade in valuations!

air

kceire wrote: »

I'm not sure but I've looked into the Leafs myself and the newer one has. Wetter range and better heater functions so it's a more attractive car.

Have you any links to the 2011 cars for 10k so I could show her?

The leaf is already a love/hate kind of car so you would want some creature comforts to make it a nice place to be.

The SVE is miles ahead of any of the previous versions but I'll deffo pass it on.

She's already been offered figures on 5 year finance or 3 year PCP so they must be ok with her deposit?

Fair enough on the finance.
With regard to the range etc, the battery capacity & aerodynamics are unchanged so id expect only very marginal real world increase in range.
The heat pump heater will help a little in some conditions for sure but I'm not sure it makes it worth the extra.
http://www.autotrader.co.uk/classified/advert/201405174275751/sort/priceasc/usedcars/page/1/radius/1500/quicksearch/true/postcode/sw193rq/onesearchad/used%2Cnearlynew%2Cnew/model/leaf/make/nissan?logcode=p

This guy looks to have a number of Leafs for sale & delivers to Ireland for £400.
Another boards user got a 2011 for £8500 & found good discounts on list prices from most dealers.

ofcork

The banks are gone extremely tight now compared to a few years ago so unless she has big earnings she would be struggling to get the loan directly.

pred racer

Personal (unsecured) loan rates with the banks are 9%+, so if the finance crowd are doing better than that! go for it.

PartnerSeeds

ofcork wrote: »

The banks are gone extremely tight now compared to a few years ago so unless she has big earnings she would be struggling to get the loan directly.

Yea exactly, I'd be surprised if she could get the money from the banks

Scottie99

PCP is around 8/8.5% with Nissan

air

Scottie99 wrote: »

PCP is around 8/8.5% with Nissan

A personal loan would cost about 3k over 3 years on 21k at those rates, is the cost of credit with PCP equivalent?

Scottie99

air wrote: »

A personal loan would cost about 3k over 3 years on 21k at those rates, is the cost of credit with PCP equivalent?

Yep she's putting 6k down and will have an option of a final payment of around 10k (could be wrong with last figure)