Quote:
Originally Posted by rogerxp
They are pretty inflexible and yes they seem to clock up 'admin' charges willy-nilly. Their rates are usually pretty keen though (once you've battled with them from outset ).
I was going to suggest looking at a personal loan to pay-off the BMW loan, you could spread it over a longer period to reduce payments also, but you could just be replacing one problem with another i.e. not getting you out of it; it's merely a way to reduce your monthly outlay - depends how long you anticipate keeping the car (no point in reducing payments too far as otherwise depreciation will just erode your cars value quicker than you can pay for it).
Only you can judge how much you can afford to spend on your car then work backwards.
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I am not much concerned about the monthly payment but the balloon at the end of the term which is around 10800. so if i pay that at the end of the term i.e 48 months, the car will cost me £37000, where as the actual price was £26000.
I think the best thing is to pay off the car and sell it, might get couple of grands back.
Anymore suggestions ?