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

 

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.

 

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

 

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?

 

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.

 

1st comment is a reference to Black Adder, Episode 4 - "Money"

If you havnt seen it, your missing one of lives funniest serieses.

 

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

 

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.

 

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.