nifty finance

[Exchanger]

Has anyone used Nifti to finance a new car? If so would you recommend using them.

At the stage where I'm tired of forking out a large lump sum to buy even two or three year old car and then 5 or 6 years later having a car worth very little and the headache of selling it or trade it in for even less!!

I know I wouldn't own the car using a "hire" company but I don't need to own one, I need the constant use of one.
Any views appreciated.

 

[Leo]

Put simply, lease deals are always more expensive than buying outright, and will be a lot more expensive than buying a 3 year old car every 5-6 years. You also have downside risks if you exceed the mileage allowance (10c per km) or they decide you didn't maintain the car in good enough condition at the end.

 

[callybags]

The likes of a credit union loan will nearly always be cheaper than a finance company deal.

However, all other things aside ( needing the cash available, opportunity costs etc. ), using cash to buy a car is by far the cheapest option, given the lack of interest given on deposits.