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Help !!!

Old 12-01-2003, 04:57 AM
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Help !!!

People i need some advice/help. Currently own a 4dr E46 BMW its just a front i love sports cars and as i Have mentioned before just sold my Integra type r, problem is I am only 22 and so far have bought all my cars cash, did not want another monthly outgoing, now i have changed and was gonna Lease a z4 for 2 years is only 300 quid a month !! Thereby releasing 10k to do other things with. However i have kids and is a bit crap having 2 cars but only one they can go in, hence i have reverted back to wanting an 8. Problem though the 10% deposit is ok but they want about 500 a month for 5 years to pay it off, i know i then own the car and that but its a big monthly outgoing ! Any ideas to help a boy get the car he really wants ????

Thanks
Ben
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Old 12-01-2003, 05:09 AM
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With a ten percent deposit and 500 a month over 5 years the car is going to cost you over 30,000. With low interest rates at the moment a bank loan has got to be cheaper.
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Old 12-01-2003, 05:10 AM
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Kev
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I'm not in the UK, but it sounds like you're only considering dealer financing - aren't there more options out there?

The RX8 is special, I can't drive it without constantly smiling - chase alternate finance, sell the kids, get the 8
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Old 12-01-2003, 05:15 AM
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Make a nice big "Get it here" sign and go down to the docks...

Or rephase what your saying, please.

You want to buy an RX-8.

Leasing(?) a Z4 will be 300 per month, but BUYING an RX-8 will be 500 per month?

But with the Z4 you'll need 2 cars, and only 1 with the RX-8?

A 20,000 loan fron A&L will be just under 400 per month for 60months(5 years) at 6.9% apr. I dont know how your getting 500 per month?
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Old 12-01-2003, 06:32 AM
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Rob i dont get ur first comment ?? The 500 figure was from mazda with leather and was rough, have two cars anyway but the misses does not want one car that can never house the kids (spoilsport!) The A&L point was a good one though, thanks.
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Old 12-01-2003, 06:45 AM
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1st comment is a reference to Black Adder, Episode 4 - "Money"

If you havnt seen it, your missing one of lives funniest serieses.
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Old 12-01-2003, 07:20 AM
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Red face

My way might be a little better for you.

Car 23,500
Deposit 2,350

Monthly 344

Balloon Payment after 4 years 8,900

Apr 6.0%

You could also got to a 3 year plan with a balloon of 10,200 and monthly payments of 377

This is a balanced payment loan, which means interest is calculated daily. Most loans have some front loading of interest, esp dealer finance.

I'm using Lombard Finance. Have a contact if you get stuck.

Jonathan
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Old 12-01-2003, 11:23 AM
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Ben,

Don't forget to factor in the increased fuel costs (@20mpg) particularly if doing high mileage - the 8 is more thirsty than most.

C.
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Old 12-01-2003, 12:43 PM
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Rob,

Did'nt register until I read your follow up comment.

HA!HA!HA!HA!HA!HA!HA!HA!HA!HA!HA!

Could'nt get the image out of my mind. Very funny. We have much the same taste in humour.
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