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      12-23-2012, 05:25 AM   #12
Masterplan
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Drives: F30 EBII 330D
Join Date: Mar 2010
Location: Edinburgh, Scotland

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Quote:
Originally Posted by davyk31 View Post
It really depends on what you intend to do. Your existing car has suffered the worst of its depreciation but if you VT and step into a new agreement you are hiking up the depreciation again. Years 3 and 4 of any agreement are the ones where you level the balance of loan against car value because depreciation has drastically reduced.
I see where you are coming from. The current situation is that the car is valued at 5-5.5K less than the current settlement, and only 1k above the GFV of the car and its already done 25000 miles after 21 months. I don't know if this car will ever even out, and the salesman even recommended that BT might be a sensible approach.

The car isn't really meeting our needs anymore, and we would P/EX it against another car if we could. However any deposit we pay would only eat into the negative equity, and even then we would probably have to take out a negative equity loan depending on the dealers figures. I don't want to throw good money after bad where I could pay another few months and leave the car with nothing owed.

Does my logic sound reasonable or am I missing something? Always interested to hear other opinions as they always have valid points.

Quote:
Originally Posted by A_P View Post
You gave them your word when you signed that you will pay it off.

A man only has two things in this life. His word and his balls.

He shouldn't break them for nobody.
I can see your point of view. I just think compromising with this car on order to keep my word with a dealer isn't worth it to me. It's surely still a mo at spinner for BMW regardless.