Searching for Finance - Balloon payment or PCP

[deanquartermaine]

Quote: Originally Posted by ollymale (original)

Thats interesting, that link I posted quoted 7.5%.

Definitely some discussions to be had with MINI finance

You don't want to really pay any more than 9% tops the dealers are making a killing on PCP products.

[Rakey]

Quote: Originally Posted by ollymale (original)

Thats interesting, that link I posted quoted 7.5%.

Definitely some discussions to be had with MINI finance

Quote: Originally Posted by deanquartermaine (original)

You don't want to really pay any more than 9% tops the dealers are making a killing on PCP products.

cheers guys, you are confirming what I was thinking when I heard the 12.1% rate

Looks like we'll be shopping around or negotiating the finance hard too, bit like the trade in price

seems money can really be saved on buying a new MINI if only you put the hard work into it

[humph]

Quote: Originally Posted by Rakey (original)

The tough call is the high mileage that you do, sometimes it might make more sense to just lease a simple spec car for a flat fee each month and have no connection to it, but then at the end of the day why buy a MINI, why not buy a Focus and have no emotional attachment

its not easy for anyone to buy or sell a MINI, as we all get far too emotional about these chunks of metal

Don't forget if your high mileage is due to business miles or commuting to different places of work you may be due a tax rebate on this. I have set my annual mileage at 10k and if I go over it will be covered by my tax rebate (which also increases with my annual business mileage). Have just checked my figures and my excess is actually 2.16 pence per mile (£21.60 per 1000) which is really low. The excess mileage rate varies from one car to another depending on model and spec. Again with PCP you don't have the hassle of trying to sell the high mileage car at the end of it.

I may live to regret my choice but at the moment it sounds sweet. Will let you know in two years time when I've paid 50%.