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Netsters

Member Since: 07 Nov 2011
Location: London
Posts: 175

Refinancing balloon payment until I've decided on new car

Hi, I've got a my16 RRS Autobiography. Current finance runs out early November.

I think I am going to struggle to spec a new car and have it delivered by then, especially as I am not sure if I am going to go for an SVR or different brand.

Thoughts are to refinance the balloon payment in november, then start shopping for a new car, possibly taking delivery in Mar 19. Then paying off the refinance PCP with a trade in for a new car.

Has anyone done this? Did it work out cost effective, any refinancing company recommendations and achievable apr's? Range Rover Sport SVR - Santorini Black
Range Rover Sport Autobiography 2016 Yulong White / black interior - Stealth pack
Ferrari 360 F1 Spider red/cream
Ferrari 348 ts red/cream
BMW M4 Convertible Competion Pack

Fri Sep 07 2018 1:31pm

360

Member Since: 02 Aug 2013
Location: kent
Posts: 116

2011 Range Rover Sport SDV6 HSE Buckingham Blue

I have had this a couple of times when delivery of new car has been delayed, most companies will let you roll the lease on for around 6 months without the need to take out a new agreement just give them a call.

Fri Sep 07 2018 4:19pm

drdelrrs

Member Since: 02 Nov 2010
Location: UK
Posts: 1163

2012 Range Rover Sport 3.0 TDV6 HSE Lux Orkney Grey

Re: Refinancing balloon payment until I've decided on new ca

Netsters wrote:
Hi, I've got a my16 RRS Autobiography. Current finance runs out early November.

I think I am going to struggle to spec a new car and have it delivered by then, especially as I am not sure if I am going to go for an SVR or different brand.

Thoughts are to refinance the balloon payment in november, then start shopping for a new car, possibly taking delivery in Mar 19. Then paying off the refinance PCP with a trade in for a new car.

Has anyone done this? Did it work out cost effective, any refinancing company recommendations and achievable apr's?

Borrowing at daft interest (car loan) rates ain't ever going to be cost effective! Pay it or get an overdraft facility which you clear asap or when you finance the new motor.

Fri Sep 07 2018 7:40pm

syl

Member Since: 10 Mar 2016
Location: Somerset
Posts: 412

Try magnitude or oracle.

I hear good things about both.

You can get numbers for magnitude online.

Interest rates are usually the same as buying a new (not the silly used apr) LR or better. RRS MY17 SDV6 AB
Evoque MY17 TD4 AB

Fri Sep 07 2018 7:46pm

Netsters

Member Since: 07 Nov 2011
Location: London
Posts: 175

Thanks, rolling over might be a good option, don't want to have to be in the position to be in a rush to get the wrong new car. Car choices are hard at the moment. The facelift over a 2016 RRS isnt enough to make it an absolute no brainer, plus the whole where is diesel going thing. 1st world problems Range Rover Sport SVR - Santorini Black
Range Rover Sport Autobiography 2016 Yulong White / black interior - Stealth pack
Ferrari 360 F1 Spider red/cream
Ferrari 348 ts red/cream
BMW M4 Convertible Competion Pack

Sat Sep 08 2018 11:18am

Netsters

Member Since: 07 Nov 2011
Location: London
Posts: 175

360 wrote:
I have had this a couple of times when delivery of new car has been delayed, most companies will let you roll the lease on for around 6 months without the need to take out a new agreement just give them a call.

Just called Land Rover Finance, they need to have the new agreement number before agreeing to do this. Can anyone confirm that have been able to this with Land Rover Finance WITHOUT a new agreement in place?

My aim is to avoid dealer trying to have me over a barrel on the new order Range Rover Sport SVR - Santorini Black
Range Rover Sport Autobiography 2016 Yulong White / black interior - Stealth pack
Ferrari 360 F1 Spider red/cream
Ferrari 348 ts red/cream
BMW M4 Convertible Competion Pack

Mon Sep 24 2018 11:38am

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