VW finance options on a new/nearly new ocean

[Pro moochers]

Evening
My wife and I have been dying to get a California for a while now and have recently started to look for personal loan quotations, with the aim to buy a California around 5 years old.
I decided to dream for a bit and look at brand new options and noticed there’s an opportunity to finance a new vehicle over 10 years.
Our initial cash deposit will be fairly low and we’d like to keep monthly payments as low as possible too so the question is, is hire purchase my best option?
Also, if there’s a nearly new/ex demo etc, at the dealership can I purchase one of those over 10 years or is it for new vehicles only?
I’m only 10 miles from Liverpool van centre.

Thanks
Alan


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[Richard Hurst]

I purchased new in July and took the ten year option and haven’t regretted my decision

 

[2into1]

I bought a 6mth old management ocean from Liverpool so will follow the thread and chip in as necessary. They do seem to be one of the more aggressively pricing dealers, although don't expect much off any advertised price.

 

[Pro moochers]

You don’t get if you don’t ask hey?


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[soulstyledevon]

Please don’t saddle yourself with a massive debt like this for such a long period of time.
It’s just not worth it.

Financially you will be better off to secure yourself a personal loan over 4 years and buy a secondhand van.

 

[Pro moochers]

Please don’t saddle yourself with a massive debt like this for such a long period of time.
It’s just not worth it.

Financially you will be better off to secure yourself a personal loan over 4 years and buy a secondhand van.

That has been our plan but I very much doubt I’ll still be paying it off in 10 years time as I often earn bonuses in work which can be paid off/saved up and pay off the remaining amount.



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[Melanie Day]

When we looked the cheapest way to borrow was to add it to your mortgage if you can ( a pain and slow to secure) then pay in to that the same as the person loan value to in essence over pay your van and house.

We found personal loan rates much more than a mortgage..... The cheapest was nationwide who if you are a customer will beat other loans by 0.5% but this was only up to 25k. You can take one each of you are 2 people.

After 25k price of borrowing went up a lot so we were going to take the mortgage route until my dad helped us out to buy in cash and we now pay him back instead....a bette use of his money and he will gain more interest than the ISA it was invested in.

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[Elmo3]

There is a good chance you’ll get one of the best deals available in the country from Liverpool. I purchased from them last year and they are great, service dept is also excellent. Don’t then make it one of the worst deals available by signing up to a ridiculously high 10 year interest rate on a secured asset. If you are going to finance, offset mortgage and pay back monthly what you would on a loan, or a low rate personal loan (or 2). Either of these options will save you thousands of pounds. You could even go to a third party finance house and save thousands over the VW 10 year rate.

 

[Pro moochers]

Great idea from you both, about using the mortgage. Problem is, we rent
As I say, there’ll be several lump sums coming our way in the next few years so the finance is simply a way of securing our dream, which can be paid off as/when we want to.


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