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Discussion Starter · #1 ·
Is anyone able to advise on Mini select? I think this works well for me, as I like the guaranteed
value at the end. It's for a Mini One pepper.
But I have some reservations as
- the quote is 14.1 % apr, £259 a month on £13,237, the car price is £12565. Seems high,
you can still apparently get loans at 8%, although I haven't applied for one. (Appreciate
an HP deal is going to be more, as you do not run the course of the loan)
- the GMV/final payment is £6,951, I think it's unlikely the car would be worth less than that
after 3 yrs, so most of the depreciation risk is still there
- I will probably settle early after 2 yrs or so, and it's not clear if after settling, the car is yours,
or some other shady scenario takes place!..

I would never want to be in the position where they value the car, and give you the 'equity' back,
as it will likely all be gone.

Any advice please? what sort of deals is anyone else being offered, recommending at the


settling in nicely
246 Posts
The select quote i got had an APR of 11.4% and if i had wanted to keep the mini at the end of 3 years the total sum paid would have been 5k more than the list price... I decided to borrow from the AA at 6.9% instead

Mini Mid-Life Crisis!
39 Posts
You could always get a quote from Lloyds TSB.

Thats who I've used for the last 3 cars.
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