Member Since: 01 Oct 2005
Location: England
Posts: 203
Paul J. wrote:
qzdcg8 wrote:
Sat down with the Dealer Finance Guy today and the APR seems to be horrendous on the Freedom deals?
I recently signed my finance deal with an APR of 12.6%, but later the same evening I saw that the LR website was offering 9.9% on the Freedom deal. A quick phone call to the dealer for an explanation resulted in the 12.6% agreement being terminated and a new one being drawn up at 9.7% (i.e. slightly better than the website typical APR), thus saving about £1500 in total over the course of the agreement.
Hope this helps in bringing the APR down to a more palatable level.
Regards
Paul
I got 5%
24th Jan 2006 3:25 pm
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
Flat?DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
DS3 TDV6 HSE- Silver with Alpaca (new one) Gone
D4 HSE Lux - Montalcino Red Gone
Porsche Cayenne V8 Diesel S
24th Jan 2006 3:27 pm
tucker_j
Member Since: 01 Oct 2005
Location: England
Posts: 203
Pelyma wrote:
Flat?
Sorry, just checked the paperwork again!
Flat rate was 4%
So the effective rate is about 6.4%
24th Jan 2006 3:41 pm
LT
Member Since: 31 Dec 2005
Location: South West
Posts: 23319
tucker_j wrote:
Pelyma wrote:
Flat?
Sorry, just checked the paperwork again!
Flat rate was 4%
So the effective rate is about 6.4%
Hi Tucker was that finance deal done via L/R?
I can get a similar rate from my bank, but I'd rather use L/R or another source, as using the bank restricts options for further borrowing should I ever require it.
24th Jan 2006 3:58 pm
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
Go to a good broker you will get a better deal from them. The guys on the RRS site seem particularly switched on for finance, I'm sure they will get you a really good deal.DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
DS3 TDV6 HSE- Silver with Alpaca (new one) Gone
D4 HSE Lux - Montalcino Red Gone
Porsche Cayenne V8 Diesel S
24th Jan 2006 4:09 pm
tucker_j
Member Since: 01 Oct 2005
Location: England
Posts: 203
LT wrote:
tucker_j wrote:
Pelyma wrote:
Flat?
Sorry, just checked the paperwork again!
Flat rate was 4%
So the effective rate is about 6.4%
Hi Tucker was that finance deal done via L/R?
I can get a similar rate from my bank, but I'd rather use L/R or another source, as using the bank restricts options for further borrowing should I ever require it.
Yes it was arranged through the dealer. No arrangement fees, no balloon payments. Straight forward repayment loan. Cash loan i.e. not secured against the vehicle (not HP). Can be settled early if required for no penalty too!
24th Jan 2006 4:22 pm
LT
Member Since: 31 Dec 2005
Location: South West
Posts: 23319
Thanks, that's very interesting, as I had dismissed L/R for any finance, due to their appalling rates. I'll check them out now.
24th Jan 2006 5:21 pm
SN
Member Since: 03 Jan 2006
Location: Romiley
Posts: 13710
Update on my situation - went back to the dealer yesterday and got them to do me the Freedom deal advertised on the website (9.9% and £1000 contribution) on the spec I wanted and bingo - the numbers dropped right where i wanted them - had a test drive in a TDV6 S Auto this morning and am completely bowled over by the car ( <= 'permagrin' in full swing) - having sold the deal to She-Who-Must-Be-Obeyed / Household CFO, will be back there at 10AM tomorrow to sign on the dotted line
P.S. I got this to work by throwing a 5 figure deposit at them financed on a 5.8% loan from elsewhere! (i.e. reducing the impact of their still high 9.9%)Steve N | 21MY Defender | 08MY Discovery 3 (history) | 06MY Discovery 3 (ancient history)
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