View Single Post
      01-19-2009, 09:58 AM   #76
doughboy
Major General
doughboy's Avatar
1543
Rep
8,972
Posts

Drives: 2018 M2 Comp 6MT
Join Date: Jan 2009
Location: UK

iTrader: (2)

NFS, you appear to good with the APR understanding, but your figure of £535 / month is only £18,725 over 35 months, which is 8 grand short of even the depreciation cost.

Please help me out if i'm lost...

I'm paying £775 / month which is £27,125 over 35 payments.

The GMFV is £12,177 (depreciation from £39,000 = £26,823)

My deposit is £2.5k, so the cost for my credit is: (if i return the vehicle to pay the balloon payment)

(27,125 payments +2,500 deposit) - 26,823 depreciation = £2,803 interest

They initially wanted £985 /month but cam down to £775

What the heck interest rate is that now??

If there's something I should know, I don't sign the credit agreement till tommorrow....
Appreciate 0