MINI Cooper Forum banner
1 - 5 of 5 Posts

·
Registered
Joined
·
566 Posts
Discussion Starter · #1 ·
I have a finance deal of two years set up and was all ready to accept this but my dealer has rung today to say that if I take the mini select finance over three years I will get an additional £750towards my deposit and the money they are giving me for Swiper will be given back to me!

I am tempted but realise that over the three years with the final value payment I will be paying around 6k more than the cost of the car if I just paid for it!

Its tempting to be given 11k in my hand though?

What shall I do? Help me decide please
 

·
still learning
Joined
·
1,270 Posts
you need to give more details on the finance/select packages.............but if they are giving you 11K in your hand then you are going to be left with a huge amount to clear after the three years.

without knowing the details I would say go for the finance rather than the select deal.
 

·
Registered
Joined
·
566 Posts
Discussion Starter · #3 ·
My payments are more or less the same on the two deals, although the finance is for two years and the select is for three.
My final payment is 11.5k which means I will be paying around £30,500 as opposed to £26,500 on the two year finance deal.
On the other hand I get to have 11k in my pocket now! Complicated isnt it and I dont know what to do.
I usually change cars every three years anyway.
 

·
Registered
Joined
·
160 Posts
All down to your own circumstances imo!

I chose select because it suited me at the time to get cash back on part/ex which i needed for something.

PCPs will in general always cost more because of interest on balloon.
 

·
Registered
Joined
·
566 Posts
Discussion Starter · #5 ·
Yes I agree. The money I get for Swiper will soon be swallowed up in payments and the car will end up costing me over 30.5k.

Have decided to go the finance route and will only pay around 1k interest in two years so car will only cost 26k and will be mine in two years.

Thanks for the help. I was lucky I had a works to trade in and a good price.
 
1 - 5 of 5 Posts
Top