Finance requirements

I Was VB

I'm playing with the idea of changing the motor and going brand new (1st time)

Looking for advice on what are the best finance options and requirements, I'd have a €3K deposit and a 2010 Sonata to trade in, I'm self employed and have a okish credit rating, just wondering am I wasting my time even going down the road of financing a car as I'm not sure how easy it is for self employed people to obtain finance (what exactly they'd look for proof of income)

Looking at a mid range Avensis, i40, Superb.

Many thanks!

Bigus

I Was VB wrote: »

I'm playing with the idea of changing the motor and going brand new (1st time)

Looking for advice on what are the best finance options and requirements, I'd have a ?3K deposit and a 2010 Sonata to trade in, I'm self employed and have a okish credit rating, just wondering am I wasting my time even going down the road of financing a car as I'm not sure how easy it is for self employed people to obtain finance (what exactly they'd look for proof of income)

Looking at a mid range Avensis, i40, Superb.

Many thanks!

These things change monthly so
I think the only one that can answer that is yourself by trying a few different dealers , maybe start off with the like of manufacturers banks first (VW/Renault etc)as they have a vested interest in shifting stock.

MarkN

They may ask for tax returns to back up your claimed earnings. Then on another day they'll ask for nothing. I witnessed a family member being approved for car finance in Toyota in about 7 minutes the other day so it may be easier than you think.

colm_mcm

Are you still doing the taxiing?

I Was VB

colm_mcm wrote: »

Are you still doing the taxiing?

Yup.

colm_mcm

This might complicate things assuming the car to be financed will be turned into a taxi?

I Was VB

colm_mcm wrote: »

This might complicate things assuming the car to be financed will be turned into a taxi?

It will be.

We've this offer currently been offered to us;

https://ie.mytaxi.com/Toyotaoffer

colm_mcm

are they expecting yu to pay list price?
Aren't Toyota giving €3500 off these anyway?

Interesting they've given the price including delivery and metallic. Fair play

colm_mcm

They'll surely have secured a fleet discount off Toyota Ireland for this by the way. Worth around €900, so the dealer will have a few quid.

Would be interesting to do the sums.

I Was VB

colm_mcm wrote: »

are they expecting yu to pay list price?
Aren't Toyota giving €3500 off these anyway?

Interesting they've given the price including delivery and metallic. Fair play

The APR rate is lower on the MyTaxi deal than Toyota.

APR of 8.9% over 3 years with a €8840 deposit through Toyota

APR of 0.75% over 3 years with a €8840 deposit through MyTaxi

colm_mcm

But you don't get any discount off the list price. Have I got that right?

I Was VB

I Was VB wrote: »

It will be.

We've this offer currently been offered to us;

https://ie.mytaxi.com/Toyotaoffer

Looks decent, over 3 years it's €27894.56 & over 5 years €29145.8 for the 1.6, can't see you getting a better deal elsewhere from a borrowing money viewpoint.
Recommended retail price €31,635 including paint and dealer delivery

the 2.0 is €30642.3 over the 5 year option, be hard to not go for that over the 1.6 IMO.

colm_mcm

Ah so they are discounting it then. Not too shabby.

Interesting that MyTaxi is owned by Daimler.

PurvesGrundy

How is the BMW 1.6d engine fairing for reliability?