PUG Finance

[james21]

Hows it going everyone. We have just purchased a 206 CC and were offered a finance deal with peugeot. They offered a 7% APR flat rate which we thought was ok but not ideal as we know there are loan companys that offer 5.9% Apr.

We went home and worked everything out ourselves and figured out that PUG will be charging us 14% APR! Cheeky PUG!

Don't go through with the Finance deal, spend a little time having a look around at the loans that are going. We didn't get the 5.9 one but we did get the 6.2 from Goldfish which has shaved off 1 year off our payments paying the same monthly figure. They said they will try and match it but I think they know that they didn't have a chance.

Pick it up on Sunday, hope its warm and sunny but looking at the weather forecast it looks like it might be a bit chilly

James

[Nicck]

Dealers will always use flat rates to make it sound cheaper. Don't get confused though flat rates and apr rates are not the same thing.

As a rough guide double the flat rate to get the apr. As you say, unless you particularly want Dealer finance (to get a better discount etc) then it's usually cheaper to go elsewhere such as cahoot

[Esselle]

Or Sainsburys Drive finance, which is the same as Peugeot Passport, but much cheaper.