Posted: Sun Mar 05, 2017 2:05 am
I have Pcp coming to an end in July with Fiat and I am thinking of re financing agin on Pcp for a bigger car with higher monthly payments. I have never missed any payments on any of my bills but have a bit extra finance since taken out my original loan 4 years ago I was just wondering if it will be easier to re finance with the Same finance company than going with a different one as the already aware of your payment history
Posted: Sun Mar 05, 2017 10:40 am
If your history is all fine (sounds like it is) then it shouldn't make much difference who you go with.
However, if you use the finance company that the dealer uses, you can often get a few freebies thrown in, like 2 year's servicing or a deposit contribution. Just check on the interest rate though.
My favourite trick is to take the finance (usually about 10% APR) get free servicing and any other free stuff, make a couple of payments then pay it all off with a personal loan (APR less than 4%).
So you'll pay less interest over the term, with the added bonus that you own the car outright and can sell it anytime you want.