Finance rate

[ffukedfarmer]

Has anyone had any finance quotes recently?

I’ve been quoted today 4.38% flat for 50k over 60 months.

I’ve nothing to compare it to as the 3 others I contacted haven’t come back to me yet.

 

[Tim G]

A smaller amount admittedly, but we were quoted 4.8% on a 1+35 deal. Didn't bother taking it up.

 

[essex man]

Has anyone had any finance quotes recently?

I’ve been quoted today 4.38% fixed for 50k over 60 months.

I’ve nothing to compare it to as the 3 others I contacted haven’t come back to me yet.

Is that a flat rate or apr?

 

[ffukedfarmer]

Is that a flat rate or apr?

sorry I should of put flat rather than fixed.

 

[benny6910]

I was quoted similar about a month ago

 

[Formatted]

Where do you guys find these rates as our bank is wanting base plus +3% on a commercial mortgage

 

[onesiedale]

Has anyone had any finance quotes recently?

I’ve been quoted today 4.38% flat for 50k over 60 months.

I’ve nothing to compare it to as the 3 others I contacted haven’t come back to me yet.

so apr, that will come out near on 9%

 

[Johnnyboxer]

Is that a flat rate or apr?

That’s the flat rate
APR is about 10%+
Rates are rising in March too …

 

[Tubbylew]

I dunno why they bother quoting the flat rate, APR is what matters.

 

[Eronce]

I dunno why they bother quoting the flat rate, APR is what matters.

Because it looks cheap and helps them sell

 

[daveydiesel1]

Is apr the percentage you pay on whats still owed each year

 

[Eronce]

Is apr the percentage you pay on whats still owed each year

Yes and flat rate you pay the interest on the total sum borrowed on day 1 and keep paying that flat rate fee, until total loan cleared

 

[Johnnyboxer]

I dunno why they bother quoting the flat rate, APR is what matters.

Looks cheaper, in single figures.....dontcha know

 

[warksfarmer]

Has anyone had any finance quotes recently?

I’ve been quoted today 4.38% flat for 50k over 60 months.

I’ve nothing to compare it to as the 3 others I contacted haven’t come back to me yet.

4.5% flat rate for £50k over 48 months

 

[Pieces_of_Eight]

I know someone who has just been quoted 12% APR for car finance (about £15k)

Ouch.

 

[Estate fencing.]

I know someone who has just been quoted 12% APR for car finance (about £15k)

Ouch.

We just bought a new car, I asked what the apr on it would be on £14k, it was 14.9%. Lucky I had the cash to buy it.

 

[daveydiesel1]

4.5% flat rate for £50k over 48 months

So is that you pay 4.5% of 50k each year for 4 years as in itl cost you 9k in interest

 

[warksfarmer]

So is that you pay 4.5% of 50k each year for 4 years as in itl cost you 9k in interest

Yes that one was £50k over 48 months at £1229/month. No deposit. Vat paid upon signing and then reclaimed obviously. There's no cheap money about at the minute.

 

[daveydiesel1]

Yes that one was £50k over 48 months at £1229/month. No deposit. Vat paid upon signing and the reclaimed obviously. Theres no cheap money about at the minute.

Thats near enough 20% on the total sum

 

[warksfarmer]

Thats near enough 20% on the total sum

18% I think but yes its high.