As this is my livelihood I would urge anyone thinking of financing their new Sport to look closely at the charge for credit indicated by the APR. A good deal should show an APR of about 6%. Please note that this approx rate will always be subject to ones status. However my arguement would be that you are not getting any discount from LR or the dealer ( who again in turn is earning commission from selling the finance ) so push for a better rate!

If you are sourcing funds from the high street again there are still some people out there who will offer personal loans ( unsecured ) with APR's under 6% eg Northern Rock at 5.5%.

Happy shopping  
" WITH MORE EXTRAS THAN A HOLLYWOOD EPIC "

Agreed - it would also be fair to say that if you do shop around for finance you'll nearly always beat the dealer's package which you can then use as ammo against the dealer or not. I am now on my 4th brand new car, and every time it has paid me to get the finance external to the dealer (if indeed I've used a main dealer in the first place).

Another point on this topic, note that once you borrow more than 25k that the loan becomes unregulated by the Consumer Credit Act. This can be an issue for some as you lose the protection you get from regulated loans - not much of a problem if everything goes to plan over the course of the loan, but if you run into issues it can get a little messy. Just another risk to be aware of when you enter into these agreements.

Cheers
Steve 

I found the RRS Diesel to be one of the most cost effective cars to buy on the market at this time, due to its expected future residual value. Our firm offers a lot of advise for our clients and anyone that asks about car financing and different ways to go, i also can point out a broker to anyone that needs it, for help with PCP/LP deals who is very competitive and can beat the socks off most dealers finance packages.

I have also devised a way of doing split lender loans, which are a kind of self managed lease purchase/pcp deals which work out cheaper as you can utilise Cahoot/Northern rock loans at the lower APR and still have the same kind of balloon come settlement time at the end of the agreement, even if you can only borrow £25k off each, you could do both??

Would be happy to discuss this in detail with anyone and provide examples, and can PM details for my preferred PCP/LP broker who specialises in vehicle and asset management. Past: Bmw M3 Coupe 57, 335d Coupe 56, Audi RS4 06, RR Sport TD HSE 05,

Current:
57 Bmw 730d Sport,
56 Merc S320 CDI L,
57 Merc Viano L 2.2CDI,
05 Audi A8 3.0 TDI Quattro,


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