Foxy Lady
car showroom
Car Finance Choices
During the recession, dealer finance remains the most popular method of funding a new car purchase. Probably because of the reluctance of most High Street Banks to lend anyone any money…
But despite this, many women tell us they are confused by part exchange complications during dealership negotiations as well as when the likes of breakdown cover and other optional extras are added. Which is where FOXY comes in; sometimes a second and entirely independent opinion can help members see the best solution for their financial needs.
How To Pay For Your New Car
Clearly cash is the cheapest way to pay for a new car but it’s in short supply at present. Yes there are a lot of credit card deals that look good value but most of us are baffled by the likes of payment protection insurance (PPI), Gap insurance, the annual percentage rate (APR) and whether to opt for hire purchase (HP) where you end up owning the car or the more attractive looking personal contract purchase (PCP) rates.
PCP is popular and we describe it as renting a car. It’s subject to annual mileage limits, an uncertain guaranteed ‘future value’ and you may or may not end up owning the car depending on the final ‘balloon’ payment. Aptly named really because this is when the total price can soar sky high… But you can carry on paying a monthly charge for a new car instead so for some FOXY Ladies that isn’t too great a concern.
And then there’s the Consumer Credit Act, where terms, conditions and credit risks should be explained to you and your personal needs and circumstances assessed.
The important point here is that you could end up paying £‘000s more for your new car than you need to if you don’t choose the right car finance deal; not knowing you had a choice, or how to end up with a much better deal.
So, even if you aren’t planning to buy a car in the near future it still makes sound sense to join the Club now so you are better informed when you next need to be. That’s when foxy lady members can ask for a second opinion so they don’t waste money on car finance deals in future.
Female feedback about car finance
We welcome totally independent and honest female feedback about car finance. Good, indifferent or ugly please email your recent experience to financefeedback@foxyladydrivers.com.
Remember that if you are a Club member and you’re struggling with a car finance problem we’ll support your efforts to sort things out.
This is all part of the FOXY Lady Drivers Club service; offering members and their family a personal and new car buying service.
FOXY Lady Drivers Club | 35 Goring Road | Steyning BN44 3GF
Tel: 01903 879988 | Email: info@foxyladydrivers.com
Highly Commended, Brake’s Road Safety in the Community Award, 2009
Winner, Home Business Awards, 2008
Regional Finalist, HSBC Start-Up Stars Awards, 2007
Runner Up, The Daily Telegraph’s Trailblazers’ Business Awards, 2006
Small Business Award Winner, SAGA Magazine, 2005
See above for correspondence address. FOXY Drivers Limited, trading as FOXY Choice and FOXY Lady Drivers Club, is registered in England & Wales No 5071266 and registered for VAT, number 841 3841 35.