anybody had any dealings with these

[johnnyvr6]

hi,

im looking at getting finance soon on a newer car has anybody heard of these or no anything about them
http://thecarstore.biz/home

[Mikester]

Never heard of them.

However normally you would be better of getting a bank loan rather than car finance as you will get a better deal with less interest.

Most car dealers/traders offer finance through a company if you require it.

I would go and find the car you want, then find out how to finance it via a bank/company rather than finding a company like this and settling for the car they have in stock as you can afford the finance.

I have had car finance before although i have only done it with reputable brands that i didnt think would go bust next week. I had finance with Lloyds.

[bob23]

Never heard of them.

However normally you would be better of getting a bank loan rather than car finance as you will get a better deal with less interest.

Most car dealers/traders offer finance through a company if you require it.

I would go and find the car you want, then find out how to finance it via a bank/company rather than finding a company like this and settling for the car they have in stock as you can afford the finance.

I have had car finance before although i have only done it with reputable brands that i didnt think would go bust next week. I had finance with Lloyds.

The 2 things you just said there are not, never have been and never will be 2 things that go together! 

[Mikester]

Never heard of them.

However normally you would be better of getting a bank loan rather than car finance as you will get a better deal with less interest.

Most car dealers/traders offer finance through a company if you require it.

I would go and find the car you want, then find out how to finance it via a bank/company rather than finding a company like this and settling for the car they have in stock as you can afford the finance.

I have had car finance before although i have only done it with reputable brands that i didnt think would go bust next week. I had finance with Lloyds.

The 2 things you just said there are not, never have been and never will be 2 things that go together! 

Not really. As it is unlikely that Lolyds is going to disappear of the face of the planet by next week. They have branches everywhere and im sure the goverment would step in if they got in trouble.

Where as "the car store" doesnt have a branch on my high street and if it disappeared nobody would know. Except those who have finance with them.

I personally dont bank with Lolyds so i have no idea what they are like but they offered a good service to me.

I just think, with the country and Europe the way it is, you should be careful with your finances and who you sign up with for financial services.

[johnnyvr6]

so does that mean if they go bust i would have a free car

[Mikester]

so does that mean if they go bust i would have a free car

Im no expert but essentially:

The car belongs to the finance company until you have paid them back all of their money. Even though the V5 will be in your name its not your car.

Finance is a big big big gamble.

For instance if you buy a car for £8000. Finance over 3 years. They will probably charge you somewhere in the region of £1200 over those 3 years. Making you pay back £9200 for the car that was listed for £8000.

Then you need to take into account the fact that the price you pay from a dealer is normally a bit expensive compared to buying/selling privately.

Then the depriciation of the vehicle. As most finance companies will only give you finance on fairly new cars, the depreciation will hit hard over the 3 years.

All this means that say after 1 year of the agreement you want to sell up, you will probably find that you owe the finance company more money for your car than it is actually worth to sell on.

Most companies wont charge you for the interest you havnt used if you settle early.

So if the company went bust i would presume you would owe them whatever it is to settle the agreement. You may find that the car doesnt cover that.

[jamrock]

except for when buying a home, you dont really wanna be borrowing money to pay for things like a car. car is worth say£8000, you have to pay it back over a set amount of time and your car is not worth the 8 let alone the 12 you paid back in total. sounds like really good scam

[johnnyvr6]

that is why i will be taking out gap insurance cos if out happens to my car and its wrote off my finance will be payed

[bob23]

Never heard of them.

However normally you would be better of getting a bank loan rather than car finance as you will get a better deal with less interest.

Most car dealers/traders offer finance through a company if you require it.

I would go and find the car you want, then find out how to finance it via a bank/company rather than finding a company like this and settling for the car they have in stock as you can afford the finance.

I have had car finance before although i have only done it with reputable brands that i didn't think would go bust next week. I had finance with Lloyds.

The 2 things you just said there are not, never have been and never will be 2 things that go together! 

Not really. As it is unlikely that Lloyds is going to disappear of the face of the planet by next week. They have branches everywhere and im sure the goverment would step in if they got in trouble.

Where as "the car store" doesnt have a branch on my high street and if it disappeared nobody would know. Except those who have finance with them.

I personally dont bank with Lolyds so i have no idea what they are like but they offered a good service to me.

I just think, with the country and Europe the way it is, you should be careful with your finances and who you sign up with for financial services.

granted they aren't going to disappear, it's the reputable bit i was talking about. their a bank therefore not a reputable company. 

I used to bank with them, they would charge me £25 if i went 1p over, charged me for not having money in my account to cover a DD that i had canceled 2 week before it was due to come out.

wouldn't give me an overdraft even though I had a good credit rating at the time.

I could only draw my money out of a Lloyd's machine and the one near me never worked, didn't cash a cheque for about £20 when I had over £2000 in the account and charged me for it, threatening to close my account over it, when the manager said that I walked out the manager's office up to the counter drew all my money out and closed the account on the spot

also my mates mum got a divorce and couldn't afford the mortgage so my mate got a second job and in 1 year got the arrears down from £21000 to £2500 then Lloyd's repossessed the house