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Finance again or new car?

  • 17-09-2017 6:49pm
    #1
    lcstress2012
    Registered Users, Registered Users 2 Posts: 598 ✭✭✭


    I have a 171 Ford Fiesta on finance for the next three years at 300 euro per month. I like the car but I want to get something different after the finance is up. Obviously to do this I'll have to pay the ballon payment, which is 7,000 euro.
    My question is can I re finance with ford to pay this or would I be better taking a loan from the credit union. I'll probably be paying 500 a month to pay off the remaining balance. I just don't want a pcp agreement again I want to keep the next car for a few years


Comments

  • #2
    Avatar MIA
    Closed Accounts Posts: 6,750 ✭✭✭Avatar MIA


    lcstress2012 wrote: »
    I have a 171 Ford Fiesta on finance for the next three years at 300 euro per month. I like the car but I want to get something different after the finance is up. Obviously to do this I'll have to pay the ballon payment, which is 7,000 euro.
    My question is can I re finance with ford to pay this or would I be better taking a loan from the credit union. I'll probably be paying 500 a month to pay off the remaining balance. I just don't want a pcp agreement again I want to keep the next car for a few years

    As long as the car is worth more than €7k you can trade it in anywhere and you'll get the leftover as a part payment on another car.

    Also, if current deal is PCP, you can simply hand back the car, AFAIK.


  • #3
    Toyotafanboi
    Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭Toyotafanboi


    Ford or their finance company will refinance you the balloon payment if that's what you want to do.


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