How To Buy, Cash Or Credit

[Eddrach]

I am even more confused, having heard that the England World Cup team will be buying their new cars on finance. Am I wrong in thinking that the cheapest way to buy a new car is cash, assuming you have it available?

You don't get any interest on it if it sits in the bank, and if you get it on finance, you're paying the wages of the employees of the finance company.

But some of the discounts quoted by dealers are based on the HP company or whoever.

Any ideas

[factor-fiction]

Do you have a link please to this news story? Sounds odd to me. They will all have several cars already i think

[boxtops]

Here you go, factor http://www.motoringresearch.com/car-news/england-players-get-posh-new-motors-win-lose-0619944713

[jno]

"odd" is the very definition of the way English football is run, ff

[weecalf]

suppose the need summit to go out in ,they are quite used to going out ....early

[factor-fiction]

Thanks boxtops- although the question says "having heard that the England World Cup team will be buying their new cars on finance" and the headline refers to the England world cup squad it seems to me as if this offer is designed for any premiership player. Although they earn a fortune maybe it's not all readily available- players probably have a company, perhaps offshore, as a tax vehicle 9no pun intended) and their wages go there

[ToraToraTora]

Pay with cash if you can, it will also enable you to get a better discount. However of you really want to save money never buy a new car.

[Eddrach]

Thread: Saturday Telegraph motoring section. As I remember it, some enterprising finance company had followed them to Brazil to get the business from their World cup bonuses.

[Old_Geezer]

Maybe it's a tax dodge.

Or maybe the finance companies and car retailers pay them more to boast about their credit deals.

[furrypusscat]

If the finance is 0% as our Honda was for 3 years, then we keep our money in the bank earning what little interest is available. If there is a % for credit then we go for cash.

[furrypusscat]

As for better deal with cash, that was how it used to be, but not anymore. We have looked into this and basically the dealers aren't interested.

[hc4361]

I get interest on my money, Eddrach, more than some finance companies charge, for example Vauxhall is offering 0% finance on its new cars.

You need to shop around, haggle and make sure you know exactly how much the car will cost you before you sign anything.

Finance companies give the car dealers big cash backs when they sell a car on finance, which is why many dealers offer better deals when you sign up for credit.

One way to beat the system is to haggle on a finance deal then cancel the finance within 14 days. There is no penalty, the finance company have to accept the full amount of the price of the car before interest etc is added.

[BRIGHT SPARK]

If you intend to buy a new car, cover up to 10k miles per year and swap within 3 years ...look at personal contract hire.The overall savings based on cost and depreciation may astound you. IMO....dont buy new with your own money.The more expensive the car ..the bigger the savings...and try to do the deal at the end of a quarter.