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SAC

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

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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

 

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They all have the hidden agendas my friend , hidden cost:ph34r: and expectations

Some will lend at 2% BUT there is expectations on your head to turn business OR the rate will go up :ph34r:substantially . Be careful is my advice 

But I'm old school . :)

 

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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.

 

 

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  • 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 

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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.

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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 , 

 

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

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