Sainsbury's loan 3.6% APR representative on loans between £7500 - £15000
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Sainsbury's loan 3.6% APR representative on loans between £7500 - £15000

55
Found 9th Jun 2015
Just looking round at loans and the best deal out there ATM on loans from what I can find

Online Rate Sale - Offer ends 10am Friday 26th June 2015.

3.6% APR representative* - £7,500 to £15,000
Sainsbury's shoppers with a Nectar card could get a rate as low as 3.5% if paying over 1-3 years
Price Promise - if you're offered a better rate on a like-for-like loan elsewhere, we'll beat it†

55 Comments

Same rate at Nationwide if lending between £7,500 to £14,999

http://www.nationwide.co.uk/products/loans/personal-loans/rates-and-details#tab:Ratesanddetails

Same at Marks & Spencer* 3.6% rep APR

Tesco is just slightly more at 3.8% but work all of these you have to remember that after you have applied and they have run ask checks they may suddenly tell you that they cannot offer you that rate and offer you a higher rate instead.

Original Poster

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Carbonize

Tesco is just slightly more at 3.8% but work all of these you have to … Tesco is just slightly more at 3.8% but work all of these you have to remember that after you have applied and they have run ask checks they may suddenly tell you that they cannot offer you that rate and offer you a higher rate instead.



Yes good point, all these deals on low APR are subject to status, great credit score no problem, still owe that £1.00 from blockbuster video then you may end up paying a tad more than advertised

Original Poster

Another good lender with brilliant low interest payback terms is the lending works ( google it ) that's P2P lending and interest rates can vary a lot depending on the amount you want to borrow and the payback term but most importantly your credit score!
Good Salary + great credit score = great loan terms! I've borrowed from them and am still in a loan agreement but for other first time borrowers that tick all the right boxes it's well worth looking into

Does a loan like this have a 'worse' impact on your credit card than car finance. I'm looking to get a new car in a few months on finance. Might as well just take out a loan like this as I would get a Much better rate than I was looking at with pcp

3.5% with a Nectar card! LINK

I want to get a new car which is £32295

Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCP

I believe APR is 5.9% and Fixed Interest Rate is 5.77%

Anyone got any advice the best way to tackle this using one of these cheap loans please?

Thanks


Edited by: "merb0786" 20th Jun 2015

merb0786 it's always cheaper to get cash from lender to pay your car. you can always bargain the price of the car by being a cash buyer. if you got very very good credit rating do it apply at these cheap Apr loans. If I was you I will also do a experian credit check online only few quids.

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks



Shop around different dealers for a better credit offer?

They're definitely out there. I had 0% finance on a new Nissan Leaf six months ago. I had a part ex valued at about £3000, paid a deposit of £500 (so effectively the deposit was about £3500, a little over 10% of the list value of the car) and I'm paying about £250 every month for two years, then there is a balloon payment if I decide to keep the car which would be around £13,000. If I do decide to keep the car at that stage, I'll take out a loan like this one, probably over four or five years.

I don't know much about getting normal loans for about £33k; I imagine that would be difficult. Most personal loan providers tend to quote a maximum of £15,000.

Type R?

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks


Ohhh yes! Lol

merb0786

Ohhh yes! Lol


I approve, obviously.

pennyfarthing88

Another good lender with brilliant low interest payback terms is the … Another good lender with brilliant low interest payback terms is the lending works ( google it ) that's P2P lending and interest rates can vary a lot depending on the amount you want to borrow and the payback term but most importantly your credit score!Good Salary + great credit score = great loan terms! I've borrowed from them and am still in a loan agreement but for other first time borrowers that tick all the right boxes it's well worth looking into



When they advertise their loans as 'flat' headline interest rates = alarm bells = dodgy car salesmen trying to overflog their finance.

The cheapest loan on was 5% flat which worked out at 6.7% APR. Hardly a good deal compared to the ones on here.

BigBen75020

merb0786 it's always cheaper to get cash from lender to pay your car. … merb0786 it's always cheaper to get cash from lender to pay your car. you can always bargain the price of the car by being a cash buyer. if you got very very good credit rating do it apply at these cheap Apr loans. If I was you I will also do a experian credit check online only few quids.



Very rare to get a cash discount on a new car, dealers can make as much on the finance as the car commission.

A way round is to take the dealers finance with a discount on the car and clear it within 14 days.

I'd also be careful getting a loan instead of a PCP deal, look at all the figures and how long you're planning on keeping the car. Sometimes a lease works out better, especially on a fast depreciating model.

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks



Have you looked into a lease deal?
Could work out cost effective once you take into account depreciation etc.

Though it would depend on how long you were intending to keep the car.

lease on a type r is 650+ a month... must expect alot of depreciation
...

get a golf r instead like me lol

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks


Buy a cheaper car! £32,295? How utterly ridiculous, no wonder the World is drowning in debt!

Do you have a link to the lease deal?

Thanks

So why does 650 a month mean the car is expected to depreciate quicker?

merb0786

So why does 650 a month mean the car is expected to depreciate quicker?



The overall lease cost is based on depreciation plus profit for the lease company.

Currently there's not much if anything off list on Type Rs so you'll be paying top dollar.

Generally the outgoing models, unusual specs or oversupply by the manufacturers causes cheap lease deals. Or in Mercedes case I've noticed when a new model has been released.

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks


Personal finance as already mentioned is always cheaper. However you need to weigh up a slight reduction in rights too. When finance is attached to a car, you can hold the Dealer and Finance supplier to account if you end up with a bucket of bolts.

It's a Type R you're after so should be fine but new models of anything can have teething problems, so always worth a consideration.

Also some superb 0% credit cards around at the moment which could beat this deal

I have applied for 8k. It has been approved but at 6.6% APR which is still good compared to what I have been offered with other companies

merb0786

I want to get a new car which is £32295Dealer is asking for a 30% deposit … I want to get a new car which is £32295Dealer is asking for a 30% deposit and then over 36 months with 10k allowance a year - i am expected to pay £323 a month, then i assume there will be some 'Balloon Payment' at the end as it is PCPI believe APR is 5.9% and Fixed Interest Rate is 5.77%Anyone got any advice the best way to tackle this using one of these cheap loans please?Thanks



You assume there will be a balloon payment?

You've researched this well.

michaelgell

lease on a type r is 650+ a month... must expect alot of … lease on a type r is 650+ a month... must expect alot of depreciation...get a golf r instead like me lol


Hmm golf r or new civic type R? Boring vs extreme I'll take the civic any day compared to a run of the mill new build estate golf r.Not even in the same league lol

black knight

You assume there will be a balloon payment? You've researched this well.



You don't even need a calculator to work it out! Lol.

black knight

You assume there will be a balloon payment? You've researched this well.



Funny

SalfordCityRed

Buy a cheaper car! £32,295? How utterly ridiculous, no wonder the World … Buy a cheaper car! £32,295? How utterly ridiculous, no wonder the World is drowning in debt!



I believe it's up to the individual on what they wish to spend their loan on. Plus if people didn't take out loans to buy such expensive treats, then the manufacture couldn't employee people to make them and businesses wouldn't invest money for banks to then lend out and given the investor a return on their money.


it's just one big cycle of moving money about to make the people with money richer, and those without the ability to spend like they do!!!

BIGMICKPICK

Also some superb 0% credit cards around at the moment which could beat … Also some superb 0% credit cards around at the moment which could beat this deal



Any examples bud?

So how much is this Civic going to cost if you buy it out right at the end?

13-14k i believe

i only bought car on HP once, never again, cost u like a house
i would prefer a depreciated 2 year old model and pay cash or take interest free loan to pay rather than make self in huge debt for next 5-6 years for a new car

merb0786

So why does 650 a month mean the car is expected to depreciate quicker?



The high price has the depreciation built into it. Ive got an outlander phev (similar price car) on a two year lease, with 20,000 miles for £290 a month. They obviously expect them to keep their value. That figure normally wouldnt cover the depreciation alone on a standard vehicle.

Some cars lose loads, some dont....

Tommy_K

I believe it's up to the individual on what they wish to spend their loan … I believe it's up to the individual on what they wish to spend their loan on. Plus if people didn't take out loans to buy such expensive treats, then the manufacture couldn't employee people to make them and businesses wouldn't invest money for banks to then lend out and given the investor a return on their money.it's just one big cycle of moving money about to make the people with money richer, and those without the ability to spend like they do!!!


Tommy K, you my friend, are a complete and utter tool! Your logic is totally warped... Let's all stay in debt to keep the rich, rich...

SalfordCityRed

Tommy K, you my friend, are a complete and utter tool! Your logic is … Tommy K, you my friend, are a complete and utter tool! Your logic is totally warped... Let's all stay in debt to keep the rich, rich...



I do take offense in being called a tool thank you..

Ok, sod it, lets never buy anything ever again on credit. No Mortgage, No loans, No credit cards, No HP, No Finance. We work until we have saved up enough to buy everything outright.

I'm sure your parents love you staying at home because you wont get a mortgage ;-)

You can't rent either, because that's like a car lease, paying for something you will never own. :-)

Any ideas how much the repayments would be on the £7500? Thinking this would be a cost effective way of buying a car. My current (classic) has just failed its MOT and the repairs are more than the value of the car so going to get a new one.

Original Poster

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hardstylemw

Any ideas how much the repayments would be on the £7500? Thinking this … Any ideas how much the repayments would be on the £7500? Thinking this would be a cost effective way of buying a car. My current (classic) has just failed its MOT and the repairs are more than the value of the car so going to get a new one.



All depends how long you want to pay back the loan ? On 7.5k over 5 years you'll pay around £140 a month and somewhere between 7 - 8 hundred pounds interest

hardstylemw

Any ideas how much the repayments would be on the £7500? Thinking this … Any ideas how much the repayments would be on the £7500? Thinking this would be a cost effective way of buying a car. My current (classic) has just failed its MOT and the repairs are more than the value of the car so going to get a new one.



You are looking at paying £168 over 48 Months, for a total of £7500 @ 3.6 percent interest
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