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Thread: Deposit on a new car?

  1. #1
    Grandmaster
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    Default Deposit on a new car?

    Is a deposit still required when you buy a new or second hand car? Without having car allowance that is.

  2. #2
    Grandmaster web's Avatar
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    New car no second hand I don't know.
    "Some people feel the rain. Others just get wet."
    Bob Dylan

  3. #3

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    Im sure its still 10%. Dont be fooled by the 0 deposit residual deals.

  4. #4

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    Nah I think with the NCA you can buy a new car without a deposit. Also not sure about used though ...

  5. #5
    Grandmaster web's Avatar
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    Quote Originally Posted by JK8 View Post
    Im sure its still 10%. Dont be fooled by the 0 deposit residual deals.
    No you do not require a 10% deposit anymore on new vehicles.
    "Some people feel the rain. Others just get wet."
    Bob Dylan

  6. #6
    Grandmaster
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    Quote Originally Posted by web View Post
    No you do not require a 10% deposit anymore on new vehicles.
    Very True. I just phoned Honda, and they say no deposit needed )

    Cool stuff

  7. #7

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    Quote Originally Posted by FaNIX View Post
    Very True. I just phoned Honda, and they say no deposit needed )

    Cool stuff
    Did you get your discount?

  8. #8
    Grandmaster web's Avatar
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    Quote Originally Posted by FaNIX View Post
    Very True. I just phoned Honda, and they say no deposit needed )

    Cool stuff
    Ah don't worry noone ever believes me anyway
    "Some people feel the rain. Others just get wet."
    Bob Dylan

  9. #9
    Super Grandmaster Nod's Avatar
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    Remember to read the fine print. Don't go for residual offers, it makes the car difficult to sell again. Go for a 100% loan. I think they give loans for up to a 8 year period now.

  10. #10
    Grandmaster Kloon's Avatar
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    Damn, 8 years is a long time to be paying off on a car.

  11. #11
    Grandmaster web's Avatar
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    Quote Originally Posted by Kloon View Post
    Damn, 8 years is a long time to be paying off on a car.
    Max time period is 72 months as per the NCA. (although I might be wrong)
    "Some people feel the rain. Others just get wet."
    Bob Dylan

  12. #12
    Super Grandmaster Nod's Avatar
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    Quote Originally Posted by web View Post
    Max time period is 72 months as per the NCA. (although I might be wrong)
    Might be, that why i said "I think ..."
    I knew it was increased, but didn't know exactly by how much.
    You can always pay off more every month to shorten the period, or ask for a shorter period.

  13. #13

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    I don't want to start a 'why didn't you buy x car instead?' thread but ... why didn't you look at the A3 2.0T instread?

  14. #14
    Super Grandmaster gregmcc's Avatar
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    No deposit needed...we'll just include it in the price you pay for the car

  15. #15
    Grandmaster
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    No deposit needed if you can afford it

    You might get a slightly lower interest rate if you can put down the money though, as it qualifies you for a lower risk.

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