Skoda Finance

Specialun

Hi Guys

I have my eye on a skoda . Used Car. The apr is 5.9%

Anybody know if this would be a straight 10k over 60 repayments @ 5.5% or do they go down the lump sum route

Ive tried to request a quote online but not working..

I assume used cars is a straight finance of x amount divided?

Curious to be honest. The skoda is a 2010 VRS

MuppetCheck

Divide the term by the APR, in this case 60/1.059 = 56.65722.

Then divide this into 10k giving €176.50 per month repayment.

Specialun

Thanks Lad

http://www.consumerhelp.ie/loan-calculator

Above Link is giving me 192.15

So I assume you reckon the used cars are flat x amount divided by years over the lump repayment method?

Specialun

I mailed skoda to confirm but they cant. Just said go to the local dealer..seems a bit odd to go while waiting for the car to come in. I want to know how its going to work

TheShow

All finance deals arranged through garages are on leasing terms, so you don't ever own the car during the term. Normally all require a deposit up front min of 10% of the OTR price and max 30/31%. At the end of the lease term there is the option to buy the car outright (Lump sum at the end), walk away or take on a new lease on a different motor.
Skoda/VW/Audi et all and a few others are now doing an arrangement called PCP where the lease term is 36 months and they give you a guaranteed future value of the car in 3 years time, obviously I'd imagine that there are some fairly stringent TACOS required to maintain the originally agreed GTF of the car.
It is only a car loan arranged by yourself with your own bank or credit union where you will own the car from the onset, and that has fixed monthly payments with no bullets.

ofcork

Not all require a big deposit,i financed a 2012 avensis with a 300 deposit and paying off over 4 years.