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Has anyone any idea what the lowest payments on finance would be over 60 months with the lowest deposit on a 1.2 logan ambience mcv through Dacia finance? Need to change the second car later this year or early next!
 

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Nurse Juju
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The lowest rate you are likely to get is 9.9% APR or 4.2 flat rate.

Doesn't look like they are offering anything cheaper am afraid
 

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Hi dorsetboy

A 1.2 Logan Ambiance is £7595

A small deposit of £200 leaves £7395

60 payments (5 years) is £156.76 per month

Total interest is £2,010.50

Total repayments with interest is £9,405.50

Assuming an interest rate of 9.9% APR as juju suggests.

you should be able to get this rate from you local Dacia Dealer
 

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Nurse Juju
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Lets not forget their fees. If it's Renault I believe thwir fees are £100 with your first payment, and I believe that is the only fee. With others best not to mention names they range from £150-£300 in additional fees (front and back end fees)
 

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Nurse Juju
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I understand the more you borrow the lower the interest rates but the minimum now is around 9.9%.

Before you sign

Negotiate to get the best deal.

Read fine print, check for all the fees applicable.

Double check the rates you were told match the rates on the paperwork and then cross reference this with an online calculator.

If nothing makes sense on the application DO NOT SIGN.

Okay, I'm getting off my soap box now.
 

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Lets not forget their fees. If it's Renault I believe thwir fees are £100 with your first payment, and I believe that is the only fee. With others best not to mention names they range from £150-£300 in additional fees (front and back end fees)
Of course juju, I forgot about that cost. I have to pay £200 along with my 1st monthly payment for the "set up fee".

As if they don't get enough interest out of you :angry:
 

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Hi juju

My dealer gave me the 9.9% APR.

I will of course have to check all of that when I eventually pick up my car!

The figures he gave me did relate to 9.9%.
 

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for what its worth my adivce is don,t take dacia finance.you can get 5%at sainsburys etc,save you fortunes in interest,and about £140 a month over 60months.but if low monthly payments are key go for pcp,which you can find out about on the net.
 

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My dealers tried to get me to pay £231 a month for 4 years, then at the end of 4 years either use the duster as a deposit for a new car OR pay £4000 more to keep it :eek:

I said no & went for santander £240 something a month for 5 years. total interest around 2k but i intend on paying it off faster
 

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Nurse Juju
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Its that PCP thing they are trying to flog nowadays, I suppose the thinking behind it is you'll come back to get a new car in 3/4years as most people will not have the lump sum.

And on those deals you only end up saving about £200.
 

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amazing, just amazing!
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9.9% is very high, you can get much better rates from many places, the best being 5.1%. Borrowing £7500 from Tesco Bank (or Sainsburys or some others) at 5.1% APR would give you the purchase price of the car but over the term of the loan cost you considerably less.

e.g. Borrowing £6500 over 5 years at 9.9% will cost about £1760 in interest, borrow £7500 at 5.1% would cost about £1010, £750 less overall with very little difference in the monthly payment.

http://www.comparethemarket.com/loans/
 
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