martplfc1

I hate the idea of both of them as any financial commitments are kinda scary, but which would you think is the best way to buy a new car?

rosslarkin

I got my car on finance but it depends which has the better repayment option / interest rates tbh. Only advantage of the finance option is you can return the car after 24 months and opt out of the agreement.

Jongi

how do the two work?

theboydonegood

You will usually get a better APR on a personal loan, finace agreements are usually very expensive especially if you get finance thru the dealer

Kris

Personal Loan by far.

theboydonegood

you want to be looking at the APR not the interest rate

martplfc1

Personal loans you get a fixed rate of interest and a fixed repayment amount and term, i.e. £200 per month for 60 months. You can also pay the whole loan off usually if you get the money from somewhere, and pay a fairly small settlement fee etc.

Finance I'm not too sure about, but the interest is usually way higher than a loan and I'm sure there are more terms and conditions than with a loan.

Serpico

I got 0% finance over 4 years with a 30% deposit when I bought my car. And I got them to price match the price quoted me by a broker.

So naaaaah!

Kris

And your finance runs for how long Serps?

Andy Jordan

never through finance imo.