GazChap wrote:
Followers of the "Guess what I bought today?" thread will be aware that I put a deposit down on a Toyota Celica on Sunday, with the rest either going through a car finance company or on my credit card, depending on which would be cheaper.
The finance company called me back today to give me their quotes and figures. They wanted to charge me a whopping 36% interest on the loan! THIRTY-SIX PERCENT!
I told 'em to stick it up their arse, I'll just go on the credit card instead. Sure it'll still charge interest, but at a damn sight less than 36 fucking percent!
How can they get away with this? My credit score is fine, I'm a home-owner with a well-paid job... how the hell does any of that deserve 36%?
Because there are a lot of people who will just use the finance people that the dealer recommends. I would look for a secured loan for the cheapest way of buying the car. Talk to the people who your mortgage is with.
Malc