MTF Interest Rate

babyonboardnz, Aug 18, 6:25am
Does anyone know the going interest rate if i was to finance a car through MTF!Comments on the company themselves!

kazbanz, Aug 18, 6:29am
MTF is motor trade finance. Its "owned" by all the dealers who use the facility.-More complicated than that but to have an MTF facility you need to pay about 60k into them.
They are no better or worse than any first teir company.
Rates vary according to your personal profile and how much profit the dealer wants to make

chookin3, Aug 18, 8:24am
Try Turners they finance through mtf with good rates

kazbanz, Aug 18, 8:06pm
sorryOP re rates--ASK the dealer/finance person the interest rate AND the total cost of finance.
Please don't get fooled by smoke n mirrors.
The ONLY number that is important (for this conversation) is how much more than the cost of the car its going to cost.
If the car is $5000 and you repay $9000 then cost of credit is $4000
You find some finance companies who advertise good interest rates.hide "compulsary" extras into the deal.
One dealership was advertising 5% interest to approved purchasers
But then the cars were priced so much higher than other yards that it welll more than covered it

carstauranga001, Aug 18, 11:45pm
There's a car dealer in our city that sometimes offers a low interest rate. But one client who delved deeper found the booking fee to be $1500. Another offer is to pay your first 15 weeks payments but was the dealer was caught hydraulicing the price. Window card was $15995, same car on net $13995. Be carefull to look at the whole deal.

Edit: I'm not saying these were MTF, just offering examples of shody offers.