I'm looking into getting a z3 2.8. i was considering finace but have been told by the garage that has the car im looking to buy that they cannot offer finace as the car is over 10 years old. so that rules finacne out. I looked into a personal loan from the bank but i refuse to pay there rediculous interest rates.
does any body have any suggestions as to how i could get my car. Aside from saving for 6 months, although i have £1500 sitting for a deposit should i go for finance.. The car im looking at is £5750 so i have been looking at borrowing £5000
Bank loan rates are usually better than finance rates, at least if you already bank with them.
Sainsbury's is good, but only if you have a Nectar card, otherwise it's the same as most banks.
I'm with the bank of scotland, so i went and had a look at there personal loans.. borowing £5000 over 4 years comes to £7900, i refuse to pay almost £3000 in interest
Apply for a 12 months 0% interest balance credit now, buy the car on your existing credit card. then transter the balance to the new 0% card. It will cost you about 3% (£150) to transfer.
Stick your "loan payments" in a regular savings acount paying 5%, then pay off the credit when the term is up - you might even make enough for a tank of fuel.
[quote="badboyblue"]in a regular savings acount paying 5%
have you checked savings rates recently.i dream of 5%.also 0% cards are not that common these days and usually charge a fee of say 1.5% to transfer the balance.oh and on a new card they probably wont give you a 5 grand credit limit straight away.i just saved for mine.its the best way and puts you in a better position if after buying one you get an unexpected bill plus you will be buying at a time of year when you should get a better deal.the best things come to those who wait.
badboyblue wrote:in a regular savings acount paying 5%
have you checked savings rates recently.i dream of 5%.also 0% cards are not that common these days and usually charge a fee of say 1.5% to transfer the balance.oh and on a new card they probably wont give you a 5 grand credit limit straight away.i just saved for mine.its the best way and puts you in a better position if after buying one you get an unexpected bill plus you will be buying at a time of year when you should get a better deal.the best things come to those who wait.
I used a post office card, very good, and they transfered the money into my bank account within 3 days, 12 months 0% and the transfer charges where low (cant remember th rate) I told them I had a few things to pay off but they didnt really want an explination.
Have a look on money supermaket. Just dont apply for too many cards as it will reduce your change of getting a loan or card.
Yes, not a savings account a "regular saving" account there's a difference:-
These look good but when you work the numbers out you only get 5% on the first month's payment (as this is the only money that is in the account for the whole year) down to around 0.4% on the last month's installment - IIRC the interest on the total amount paid in was around 2.8%.
There are some Easy Access accounts paying around that figure so the OP could be getting that interest on the money he has now.
Zed Carer wrote:
These look good but when you work the numbers out you only get 5% on the first month's payment (as this is the only money that is in the account for the whole year) down to around 0.4% on the last month's installment - IIRC the interest on the total amount paid in was around 2.8%.
There are some Easy Access accounts paying around that figure so the OP could be getting that interest on the money he has now.
Yep, that's why I said to put in his/her "loan payments", as, if you dripped into an account paying 2.8% the effective rate would be ~1.5%.
So i've been offered the money at a good rate and i'm tempted... Although i dont have any debt, not even a credit card. the thought of signing my name to this is daunting.
Looks nice. Fastest colour aswell. You will probably find the reason being that you have been struggling to find a decent rate is the fact that you probably have a limited credit score due to you not having finance. Credit companies like to see you have had debt and can handle it. I got a loan from Natwest for 8.5% mainly due to having an excellent credit score and also swapping my bank to a gold one, i also have a credit card with 0% balsnce transfer and 12mths interest free. and the crazy thing is its all down to having debt in the past.
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Z3 3.0 Sports Sold
Z4 3.0si Ruby Black with Champagne Leather and Piano Black Dash
Hi, I have just got my car a month ago and spent around three months looking at different cars, different ads etc. Make a wish list of what you want on the car and then try and match the car to that. Also don't forget to take into account insurance costs and if you are financing against the car I would seriously think about GAP cover as well. There is nothing worse than having a car written off through no fault of your own then still having to pay for it.
reg_coop wrote:So i've been offered the money at a good rate and i'm tempted... Although i dont have any debt, not even a credit card. the thought of signing my name to this is daunting.
this is the car im looking to buy, any thoughts?
Looks OK but IMHO its at the top end price wise as there are these as well:
To be honest i would think its about a grand over priced.do you prefer the old shape to the new shape as for that money you should get a newer car with probably fewer miles.also it does not mention full bmw service history which i guess means its not got it.just my honest opinion
I was wondering what you meen by old and new shape as most of the 2.8's i've found are over 10 years old. The guy has moved on the price and also offered me a good price on my car.
There just isn't that many for sale in scotland, i don't think it's worth the money or hastle of me traveling down soouth to save maybe £2-300
when i said new shape a better term would of been facelift model.the main difference is the rear of the car and the improved hood.i think the swtchgear on the centre of the dashboard is a bit different too.if you look at the pic of the car below you will see the back is a little different.the first 3 litre models came on a x reg plate so there are v and w reg facelift 2.8 models about like this one
but they didnt really want an explination.
or how are you with electrics? 
