[Mull3t]

Hey all,

Ive had my Cooper now for 2 years (3 year agreement, with ballon payment at the end)

When I first got my Mini, I put down £2,500

For a while now I have been looking at a Cooper S, so I paid the dealer a visit who gave me a price for my Cooper, they offered me £7800 on the spot (which I think is a good price considering its 04 plate, and near on 38k on the clock.

I had my eye on a Cooper S which was for sale for £9,500, but they basically told me in order for me to 'swap' over to this, I would have to put down a £1,000 up front payment, Which I thought sounded fair...at the time

So I went away and thought about it. If they are buying my car from me, for near on 8k, which would then pay off the rest of my finance, so I would be starting a fresh. and then go for the MCS.

So why would they need the £1,000 up front (I understand deposit etc, but they told me, this was the only amound they could take)

I'm fine with paying the £1,000 up front, but I dont want to be losing out on money in the long run.

They also claimed that based on the repayments for the MCS would be £51 higher a month (for a £9,500 + interest car) But when I purchased my Cooper, which was £12,500k, my repayments are £51 lower than if I went for this MCS both on the same term, and interest rate.

I know obviously putting cash down for my Cooper would have lowered the monthly rate, but even with the £2,500 down, leaves £10,000 so surely the payments on the MCS should be the same, or a little lower.

This post is prob very confusing, but just seeing if I can get anyones views on this? is they some logic behind it?

Am I best to wait a few months then approach them again?

[iain cooper]

very difficult to comment on this type of thing, without more info.

your cooper was £12500, your deposit £2500, that leaves £10000

what is your balloon payment at the end ? and how much had you to pay each month over the three years ?

[BigStuff]

Maybe penalties in agreement for early settlement?

[Mull3t]

Quote: Originally Posted by iain cooper (original)

very difficult to comment on this type of thing, without more info.

your cooper was £12500, your deposit £2500, that leaves £10000

what is your balloon payment at the end ? and how much had you to pay each month over the three years ?

Balloon payment at the end is £1,500

Quote: Originally Posted by BigStuff (original)

Maybe penalties in agreement for early settlement?

I checked that, but im over the 50% of my agreement so I can pay up the full some without any penaltys.
---
Just don't make sense to me, how I could go for a cheaper car, but end up fork out more, I can only put it down to that Sytner got their figures wrong? maybe?

[David King]

Could well be down to the residuals on the S being slightly weaker than the Cooper.

[supa-dupa-cooper]

And finance rates will have changed as well

[Mull3t]

Quote: Originally Posted by supa-dupa-cooper (original)

And finance rates will have changed as well

Yeah, I asked about that but they said it was the same rate as I was offered and accepted in 2006 lol.

I'm going to go back to them on Saturday and double check its correct, as it seems odd numbers.

[Mull3t]

I'm going along on Friday to view another Mini and give it a test drive so i'm gonna get the figures checked out. Will report back

[Den W]

Ring MINI finance to get a settlement yourself and see if there is any penalties then go on Moneysupermarket.co.uk and see what loan deals are around at the mo and see if your stealer will give you a better rate of finance, the rates are flexible to an extent.

Den