Currently thinking about a loan, rather than finance, for buying my next bike..
Anybody have any suggestions/advice on this? lol
The best loan rates I can find is
Borrow £3500
APR = 12.9%
Term = 48 months
Repay = £4400
The finance I have now on my bike is
Bought bike for = £2199
APR = 22.5%
Interest Rate = 13.35%
Term = 30 months
Repay = £2912
Statistically, the loan route looks like a better road to go down..
But what are the chances of actually getting a loan, aged 18, only been in my new job for a month at £12000 annum (insert sad face here), however I have been paying finance since I was 16 for my 50cc, which I paid off within a year, and now on my 125 which will also be paid off before april at the latest.
I was thinking a loan might be better, to buy the bike outright (this way I'm not limited to dealer-only purchases, and I could buy private aswell), and pay for a years insurance on top.
Anybody have any suggestions/advice on this? lol
The best loan rates I can find is
Borrow £3500
APR = 12.9%
Term = 48 months
Repay = £4400
The finance I have now on my bike is
Bought bike for = £2199
APR = 22.5%
Interest Rate = 13.35%
Term = 30 months
Repay = £2912
Statistically, the loan route looks like a better road to go down..
But what are the chances of actually getting a loan, aged 18, only been in my new job for a month at £12000 annum (insert sad face here), however I have been paying finance since I was 16 for my 50cc, which I paid off within a year, and now on my 125 which will also be paid off before april at the latest.
I was thinking a loan might be better, to buy the bike outright (this way I'm not limited to dealer-only purchases, and I could buy private aswell), and pay for a years insurance on top.