who's the best for stock funding ?????

[SAC 1]

hello all

I was thinking of applying for a stocking loan 

but who to choose??

I obviously want the cheapest rate so i wouldn't be choosing bca or next gear 

thanks

 

[David Horgan 564]

They all have the hidden agendas my friend , hidden cost and expectations

Some will lend at 2% BUT there is expectations on your head to turn business OR the rate will go up substantially . Be careful is my advice 

But I'm old school . 

 

[justina3 518]

As David rightly points out its the old umbrella analogy, you should also consider other factors BCA might not be the cheapest but they do from time to time offer 0% 30day deals and makes life very easy to bounce a car back when its on partner finance and so on.

 

 

[SAC 1]

• Facility                                              APAK
• Amount                                            £50,000
• Interest rate                                    4%
• LTV                                                     80%
• Bonnet Fee                                      £20.00
• Settlement fee                                £0
• Age of cars                                       Up to 10 years
• Max Mileage                                   up to 100,000
• Term of funding                              90 days – extensions provided if needed

 

RECIPROCAL TARGET = 2:1 RATIO             So for your 50K we would only expect £100,000 back for the year and this equates to £8500 per month.

 

So if you bought a 10K car at auction we would fund 80% of this over 60 days and you would pay:

 

• Interest -             £42.60
• Loading Fee -     £20.00
• Total -                   £57.60

this is what i have been offered 

[jangdong 0]

13 hours ago, justina3 said:

As David rightly points out its the old umbrella analogy, you should also consider other factors BCA might not be the cheapest but they do from time to time offer 0% 30day deals and makes life very easy to bounce a car back when its on partner finance and so on.  slope unblocked

 

 

Thats amazing bro.

[David Horgan 564]

19 hours ago, SAC said:

• Facility                                              APAK
• Amount                                            £50,000
• Interest rate                                    4%
• LTV                                                     80%
• Bonnet Fee                                      £20.00
• Settlement fee                                £0
• Age of cars                                       Up to 10 years
• Max Mileage                                   up to 100,000
• Term of funding                              90 days – extensions provided if needed

 

RECIPROCAL TARGET = 2:1 RATIO             So for your 50K we would only expect £100,000 back for the year and this equates to £8500 per month.

 

So if you bought a 10K car at auction we would fund 80% of this over 60 days and you would pay:

 

• Interest -             £42.60
• Loading Fee -     £20.00
• Total -                   £57.60

this is what i have been offered 

I will say it again , and again , be careful . there's a catch somewhere 

I ask myself , how can anyone lend 8 k for 2 months at £57.60 . 

What happens when you don't meet 2;1 ratio 

How much does a 90 day extension cost 

get them in your office and be brutal honest with them , 

 

[CRW 73]

Surely a recovery loan would be cheaper? May not be eligible I guess.