[TMP]

I just hate the way dealers try it on....one business manager came in at 14.4% APR...ffs

My local dealler, who got my thinkng about the Mini deal in the fist place, knows my current pcp provider Lombard gets me 7%apr..and so far his best effort is 9% apr.

What should I be getting from the guys, or are they really handcuffed?

[peterg1965]

JCT 600 Audi in Bradford gave me a quote with a 16.6% APR the other week. I told the bloke not to insult me. At that rate the dealers must make HUGE commission on finance packages and rip the customer off. Getting Audi below 10% on a PCP on used cars, is a near impossibility. I doubt BMW are much different, although TMP suggests that it is possible, unless their is subsidised rates available.

[davyk31]

Have you looked into Contract Hire on a Mini, thats something I would be keen to look into as a quick google search showed up some decent deals on the SD. Good residuals help to keep the costs down.

[Snooky]

TMP, have you thought about a new MCS? Mini are doing a 50:50 deal on the MCS, MCSD and JCW. Pay 50% deposit and the balance 2 years later. 0% finance.

I am considering it at the moment...wasn't really wanting to get a new car but it is starting to make sense to me assuming trade in value etc stacks up.

[davyk31]

So are there no repayments in the first two years on the 50:50 deal? If thats the case say a car is 20k, you pay 10k now and another 10k in 2 years or what are your options at that stage?

[Snooky]

Originally Posted by davyk31

So are there no repayments in the first two years on the 50:50 deal? If thats the case say a car is 20k, you pay 10k now and another 10k in 2 years or what are your options at that stage?

Thats correct, Davy. No repayments until the 2nd 50% is due after 2 years. It is like a PCP - you could then either pay the balance to keep the car, hand it back or trade it in.

It appeals to me as I have no finance on my car at the moment and if I trade it in for a Mini I can get, say £10k back after paying the 50% deposit and I wll use that towards clearing the finance on our family car - replacing 6.5% APR finance with 0% APR.

[davyk31]

If you decide to keep the Mini after the two years what the interest rate like, need to be sure you don't get tied into anything nasty.

[TMP]

Originally Posted by Snooky

TMP, have you thought about a new MCS? Mini are doing a 50:50 deal on the MCS, MCSD and JCW. Pay 50% deposit and the balance 2 years later. 0% finance.

I am considering it at the moment...wasn't really wanting to get a new car but it is starting to make sense to me assuming trade in value etc stacks up.

My plan is....(and i am still not convinced) is a simple swap and no cash needed. I therefore start saving cash

But yeah the 50:50 would could more sense, but I really dont want to put more money in metal at the moment..

Originally Posted by peterg1965

JCT 600 Audi in Bradford gave me a quote with a 16.6% APR the other week. I told the bloke not to insult me. At that rate the dealers must make HUGE commission on finance packages and rip the customer off. Getting Audi below 10% on a PCP on used cars, is a near impossibility. I doubt BMW are much different, although TMP suggests that it is possible, unless their is subsidised rates available.

Yeap - BM best is 9.4% (from two dealers now) .

16.6 shocking...beats my 14.4!

[MEGA]

Ridiculous. Carlyle finance offered me 4.9% APR on a 9k HP loan.

When I was previously wanting a new car from a well respected dealer network, they refused to tell me the rate over the phone repeatedly before admitting it was 14%. I gave up as they seemed unwilling to move.

Just give us a competetive rate and get the sale of the car. I don't understand why they try it on...