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Mejy Poo · Mar 25th, 2008, 07:45 AM

Quote: Originally Posted by minimeminime (original)

Forgive me for asking silly questions. Lets say I am putting £1,000 pounds down on a £12,500 mini.. I want to keep it for 2 years max.. Using the select finance plan what could I expect my monthly payments to be and what happens at the end of the 2 years?

Don't qoute me on this but it would be something along the lines of....

24 payments of about £150 a month

Then a lump sump of about £6-7K at the end

I haven't got a calculator in front of me and I don't know exact rates or anything but I reckon it would like that - if you didn't pay that lump sum at the end you would give the car back.

I haven't gone for Select as I don't see an option where you tend to end up paying more in the long run as beneficial. It's like paying rent on something when you can buy it. Although I do appreciate it works for some people.

Mar 25th, 2008, 07:45 AM	#12
Mejy Poo MINI2 Senior Join Date: Feb 2008 Location: Lancashire Local Time: 12:19 PM Posts: 363 Offline	Quote: Originally Posted by minimeminime (original) Forgive me for asking silly questions. Lets say I am putting £1,000 pounds down on a £12,500 mini.. I want to keep it for 2 years max.. Using the select finance plan what could I expect my monthly payments to be and what happens at the end of the 2 years? Don't qoute me on this but it would be something along the lines of.... 24 payments of about £150 a month Then a lump sump of about £6-7K at the end I haven't got a calculator in front of me and I don't know exact rates or anything but I reckon it would like that - if you didn't pay that lump sum at the end you would give the car back. I haven't gone for Select as I don't see an option where you tend to end up paying more in the long run as beneficial. It's like paying rent on something when you can buy it. Although I do appreciate it works for some people.