Vehicle availability is a bit crap (or was a year ago when I changed mine as lead times for new cars are so long) so anyone looking for a particular model/spec needs to act quickly if they find what they are looking for……..
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[Finance] PCP finance help - can't work it out
- Thread starter the slow norris
- Start date
the slow norris
Active member
- Thread starter
- #23
Thanks everyone for your responses. To all the people saying "wait" - you are absolutely right, that is definitely one of the options. However the spec of the car is quite rare so with no liquidity in the market, there's no guarantees that a similar one will be available in a month or so's time. And we specifically want to use the car for a purpose over the coming weeks.
I think what is happening here is BMW charging for 30 days future interest when I settle (their right under some sort of act apparently) which I can understand. If I get the money early, I can always withdraw from the finance deal and settle up with only interest incurred to date, so that is another option for me. What surprises me a little is BMW being completely unable to explain this to me in advance of me signing anything.
Cheers again for all the help, much appreciated.
I think what is happening here is BMW charging for 30 days future interest when I settle (their right under some sort of act apparently) which I can understand. If I get the money early, I can always withdraw from the finance deal and settle up with only interest incurred to date, so that is another option for me. What surprises me a little is BMW being completely unable to explain this to me in advance of me signing anything.
Cheers again for all the help, much appreciated.
I don't know about the OP's exact circumstnces but for those asking why not just wait until April etc, when we bought our car last we were offered a large discount if we took the PCP, even though we planned to pay it off after one month, we even told the sales guy we were doing this and he was fine with it. This discount was not available if we took the cash price.
After we settled the PCP 6 weeks later we worked out we had saved about £1,600'ish cmpared to the cash price after we made one interest payment etc. There was literally no reason we could think of for not doing it.
Should be noted, this wasn't a BMW though so I guess terms may be different etc.
After we settled the PCP 6 weeks later we worked out we had saved about £1,600'ish cmpared to the cash price after we made one interest payment etc. There was literally no reason we could think of for not doing it.
Should be noted, this wasn't a BMW though so I guess terms may be different etc.
mejonaNO12 aka riskit
Well-known member
You're buying a used box on wheels for 50k
mejonaNO12 aka riskit
Well-known member
Do you run Fake Taxi?
Fair enough.
Cheshire Cat
The most curious thing..
Why pay one month debt charges?
Why not just pay cash up front?
Presumably you actually have the cash?
Why not just pay cash up front?
Presumably you actually have the cash?