N'ah it's ok..I'll post here as it may help somone else:
Hummm well
Car about
: 14,000
PX (deposit): 3,100
Est value at end of period: 4,000
total outstanding: 6,900
Repayments.....£204 / month...48 months.
Total repayable...9792.
Now whist this may not sound too great the key thing for me is keeping the repayments down...following is the nearest I could get with A&L ( 48 months again ).
Total loan ammount : 10900
Final replayment : 3270
Total ammount actually being borrowed : 7630
Repayments : 215.33
total repayment: 10335.84
This is where it gets tricky! lol... basically over the whole period i'd be paying A&L 543.84 more than if I were to go with MINI select.
I'm pretty sure this is fairly accurate.
The thing which is worth remembering is that with the MINI finance deal the 4,000 is the guarenteed value of the car at the end of the loan. If the cars worth more than this then you either get a cheque or the money towards the next car...however if the car's worth less then you just give them the car and walk away.
With a bank loan the value at the end you have settle...ie another loan or something. Of course this is the case with the MINI system too if you want to keep the car.
I know i'm confused now...i'm sure i've cocked something up in the maths there but it sounds about right...hope it helps! lol
Dom
