loan or finance?

[teag1rl]

I have a fair bit of cash for a decent deposit on a car. Is it better to get a loan from my bank for the extra or get finance agreement on car?
I've only ever bought crap cars outright before, so whole borrowing money thing is new to me. Any advice would be appreciated.
TIA.

[DONNA1458]

You are best to get a loan from your bank it will be at a lot lower interest and you will have more of a bargain tool with the seller with all cash. are you buying new or second hand?

[DONNA1458]

also if you get finance on the car they own it till a certain amount has been paid, if you get a loan from the bank it is personal the car is owned outright by you.

[teag1rl]

Thanks Donna. That's what I thought. Just wondered if it was the done thing.

[gummybear]

defo go with the loan !!! Iv tried both.....when you take the finance deal you pay all the intrest first then its not till about 18 months down the line you start actually paying the car off so if for any reason you want to change cars in say two years you will find your finance by some miracle is near as damm it the same amount that you borrowed...very frustrating !!! plus as Donna said the intrest on loan will be more competitive x happy shopping !