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Car Finance from an SIMI dealer

  • 31-07-2014 10:11pm
    #1
    oldsport
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi Guys,

    just looking for a bit of advice, have my eye on a car in a dublin dealership...advertised at 4950, with a finance option available...

    obviously the sum of repayments will amount to a bit more than that so my question is, for arguments sake is it possible to make a lump sum repayment on the unpaid balance, say a few months in to the loan, the same as you would via a credit union etc?

    has anyone on here done something similar to this before if they wanted to go travellling for example or etc??


    cheers


Comments

  • #2
    bazz26
    Registered Users, Registered Users 2 Posts: 51,363 ✭✭✭✭bazz26


    It depends on the terms and conditions of the finance agreement you sign up to. Some could have a penalty charge for exiting the finance agreement before the term has matured. They usually do this in the way of including it in the final settlement price to clear the outstanding finance.

    Being honest if you are in anyway considering leaving the country to go traveling in the short term then you would be absolutely mad to buy a car on finance. You will be in negative equity from the off. Imo you would be better off buying a cheap run around and either sell it on at very little loss when you go travelling or park it up until you come back.


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