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best low rate finance deal

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Has anyone purchased a new caravan of late and got a low rate finance deal? If so would love to know who the lender was.

 

Thank you.

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I got an amazing rate via my dealer with PCF Bank who had rates 50% cheaper than the best rates offered by Black Horse.


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2 hours ago, madasmad said:

I got an amazing rate via my dealer with PCF Bank who had rates 50% cheaper than the best rates offered by Black Horse.

That's really good, may i ask who the dealer was?

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3 hours ago, madasmad said:

I got an amazing rate via my dealer with PCF Bank who had rates 50% cheaper than the best rates offered by Black Horse.


50% Cheaper of what figure!

 

What was the Black Horse APR  or Flat Rate?


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https://www.moneysavingexpert.com/car-finance/personal-car-loans/

 


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If I was to change my van again I would definitely look some finance with Black Horse its worth it’s weight in gold if you have warranty/dealer issues .    A family member had issues with a brand new 65k Motorhome after months and months of heartache and hassle one phone call to Black Horse and van collected ,money refunded with compensation all in about 3 weeks .Low rates are fine if your purchase is fault free and your dealer is perfect.

  • I agree completely 1

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11 hours ago, cb300 said:

If I was to change my van again I would definitely look some finance with Black Horse its worth it’s weight in gold if you have warranty/dealer issues .    A family member had issues with a brand new 65k Motorhome after months and months of heartache and hassle one phone call to Black Horse and van collected ,money refunded with compensation all in about 3 weeks .Low rates are fine if your purchase is fault free and your dealer is perfect.

BUT, have you calculated the difference beween the total payable amounts of say Black Horse and a Nationwide BS personal loan?  Using a Credit Card and then settling it with no interest charge is also a safe way to purchase. You can always cover it with a personal loan if you havent got the capital.


Ern

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4 hours ago, Ern said:

BUT, have you calculated the difference beween the total payable amounts of say Black Horse and a Nationwide BS personal loan?  Using a Credit Card and then settling it with no interest charge is also a safe way to purchase. You can always cover it with a personal loan if you havent got the capital.

 

 

A dealer accepting full payment on a credit card?  Unlikely, owing to the fact the dealer will have to pay a % fee to the card company.

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12 minutes ago, beejay said:

 

 

A dealer accepting full payment on a credit card?  Unlikely, owing to the fact the dealer will have to pay a % fee to the card company.

You only have to pay a small amount by credit card and the balance by any other means, e.g. low interest rate personal loan, to be protected by Section 75 Consumer Credit Act 1974, as long as the total cost of the goods purchased is between £100 and £30,000.

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8 minutes ago, Legal Eagle said:

You only have to pay a small amount by credit card and the balance by any other means, e.g. low interest rate personal loan, to be protected by Section 75 Consumer Credit Act 1974, as long as the total cost of the goods purchased is between £100 and £30,000.

 

But that's not what beejay was responding to, the post he replied to said

 

4 hours ago, Ern said:

Using a Credit Card and then settling it with no interest charge is also a safe way to purchase. You can always cover it with a personal loan if you haven't got the capital.


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9 minutes ago, Grandpa Steve said:

 

But that's not what beejay was responding to, the post he replied to said

 

I know what he was responding too. I thought I was adding useful information on the back of that so quoted him.

Edited by Legal Eagle
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29 minutes ago, Legal Eagle said:

You only have to pay a small amount by credit card and the balance by any other means, e.g. low interest rate personal loan, to be protected by Section 75 Consumer Credit Act 1974, as long as the total cost of the goods purchased is between £100 and £30,000.

 

Is that the Invoice cost i.e. after part exchange etc even though a recent purchase of mine was over that amount at pre-exchange value?


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3 minutes ago, SamD said:

 

Is that the Invoice cost i.e. after part exchange etc even though a recent purchase of mine was over that amount at pre-exchange value?

It's whatever the total value is on your receipt including px amounts. If the total price paid exceeds £30,000 Section 75 does not apply but Section 75A might for linked  credit agreement purchases between £30,000 and £62,260.

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44 minutes ago, Legal Eagle said:

It's whatever the total value is on your receipt including px amounts. If the total price paid exceeds £30,000 Section 75 does not apply but Section 75A might for linked  credit agreement purchases between £30,000 and £62,260.

 

Thanks.


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3 hours ago, beejay said:

 

 

A dealer accepting full payment on a credit card?  Unlikely, owing to the fact the dealer will have to pay a % fee to the card company.

Yes I agree and thats what I meant really but didnt go into that detail. We reserved our last new caravan with the Credit Card  £1K and paid the ballance with the Debit card. I distinctly remember the saleseman saying that they would not accept a Credit Card payment of the ballance.  The real point under discussion though is "low rate finance" and I was pointing out that a personal loan was much cheaper than dealers finance.

Edited by Ern
typos

Ern

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First Direct are doing personal loans for 3.3% at the moment.


I've got nothing to do on this hot afternoon

but to settle down and write you a line.

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Change my car just before lockdown. Personal loan from Santander, 3% :) over 36 months. 


Experience is an awful teacher who ends up sending you simply horrifying bills

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Nationwide are advertising  2.9%.


Ern

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