hi there,
im new to this and really need some advice,
thinking of buying a new suzuki jimmy jlx + and doing my home work, but still comning up with a couple of problems like are they bringing out a new model to replace the jimmy how do i find out, and they have offered me there finance at 6% but are there any hidden extras they are not telling me, the bank has offered me 8.8% and are saying no hidden extras, who do i go with what a headach.
i have had a test drive and seens okay only doing this as i want to trade in my car for scrap and get the 2000 off price and want a cheap 4x4 with small engine
{subject line amended}
Edited by Dynamic Dave on 02/06/2009 at 11:19
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AFAIK, they are legally required to tell you APR considering the total sum you repay.
Did you try with another dealer?
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Ask the garage for a full quote in writing, including everything including any admin, document and acceptance fees. These can amount to a few hundred quid.
The 6% may be a flat rate - this equates to about 12% APR.
Be careful not to agree to a monthly figure. Negotiate the cost of the car, then look at options for paying for it.
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If the APR is at 6% then the finance company behind this scheme is obviously getting a subsidy from the manufacturer; on something like this the finance company would want an APR of 13% - 18%, so the manufacturer is making up the difference by selling the car to the finance company at a lower price than the price quoted to you (i.e. you will receive no discount or a smaller discount).
You could try haggling for a cash discount, and then financing the car through a bank loan. This can work out cheaper. I once bought a second hand car advertised at 0% finance, but paid cash with a 15% discount off advertised price. I then financed the amount I paid via a bank loan and got a lower monthly instalment.
BUT if you go down this route the car will be financed under a personal loan and not under HP, which means you do not have any protection from the finance company should the car prove faulty (in law the finance company is deemed to be the supplier of the car).
You will also not be able to hand the car back at the half way point of the loan.
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I can't imagine that Suzuki will ever come up with a replacement for the Jimny, in fact I suspect it may disappear from the market fairly soon.
It has terrible performance on road and the interior space is awful.
It has fairly good of-road performance but you are unlikely to use that in the UK.
I don't know why you want a 4x4 but I would recommend a petrol-engined Panda 4x4 or a Daihatsu Terios instead if your needs are for rough roads and snow.
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Thank you for all your answer all taken on board, reason for jimmy 4x4 is
going to get 2000 for my old disco 4x4 good deal, im also looking for small car 4x4 fed up with driving a truck, but still want to be a little up from the ground.look at the panda but the though of it being a panda ugh.
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If its better than the bank and your happy with the repayments I wouldnt worry - who is the finance actually with? Its not really with the dealer, theres usually a bank behind it.
Jimny is popular round where I live, theres two in my small village! The Terios is a far better car, but its also a bit more expensive, although I know someone delighted with theirs.
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Ignore the APR - how much do they want per month for how many months, so what is the total cost financed via the dealer or the bank? That's what's important! Also, try asking what the cost would be without the £2k scrappage farce for the Disco - you might well find the overall deal is cheaper....!
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