Re: Approved Car Finance

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Re: Approved Car Finance

Tim S Kemp

17 Apr 2004 13:58

> Mate of mine has just bought a car from Approved Car Finance. It's a 1998
> Suzuki Baleno which I see go in Autotrader for about £1500 to £1995
[quoted text clipped - 9 lines]
>
> Be warned won't you???

All the places that tie the car to the credit are bad news. Any dealer who
can be arsed can get credit for the worst people - ex bankrupts, CCJs,
whatever. Yes the rate will be bad but the car will be the right price. Yes
/ Approved / Carcraft etc are making money at both ends - they are finance
houses with movable security for the finance.

David J. Button

17 Apr 2004 11:09

Mate of mine has just bought a car from Approved Car Finance. It's a 1998
Suzuki Baleno which I see go in Autotrader for about £1500 to £1995

The purchase price was £5000 - he gets £1000 trade in for his old vehicle
and £225 cash back on the deal.

So he's financing £4000 at 29% and paying £39 a week over 3 years.

So for a £2k car, he's paying £6084 !!!!!

And he thinks he has got a good deal!!!

Be warned won't you???

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