[bigpoppa81]

ive seen a mini i want and its about 10500, i have a car worth 4000 and i may wish to part ex it in for the mini on mini select. I also have 1000 to add as a deposit or towards the deal. On mini select can i use the 1000 as deposit and the car as a way to pay for all the payments for two years?

i dunno if its possible to use the car to either bring the payments right down and use the 1000 to pay for the car for two years or visa versa?

[Humph]

Two things I will say here before the MINI Select bashing starts (again!).

1) Mini select works best for new cars. If the car you are looking at is second hand then select may not be the best route to go down. Example here is that when I was looking, I found a 10 month old Cooper and select figure was about £275 a month. I then priced up an identical brand new one and the select figure was £247 a month. Reason the lower final guaranteed value of the second hand car.

2) If the car is second hand, how old? Do you expect to keep it after the end of the loan term, i.e. pay the balloon payment. If so this will be a very expensive second hand car.

To answer your question you can use the £1000 for a deposit. Then get cash back off the dealer for the trade in price of your car. Dealer will probably encourage this anyway.

Get the dealer to do some figures on Select but fi the car is second hand you may be better off using a bank loan or something such as the M&S car buying scheme which allows you to offset some of the cars cost.