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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > UK Off-Topic Discussions > % of yearly income you'd spend on a car?



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      07-04-2012, 07:40 AM   #89
Palmnuts
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Yes, it's the total repayable under the loan (excluding any deposit).

So, buy a car for 20k and pay a 4k deposit - 16k borrowed. Add 2k interest and the total repayable under the loan would be 18k. Half way is 9k, at which point you can hand the car back.

As has been said already, 3 year PCP vs. 5 year HP deals are very similar these days and I can't see how you can get bitten by one and not the other given the monthly payments are similar and the half-way points (in these days of finance companies setting very prudent, i.e. low, MGFV/final payments) would also be very similar.
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      07-04-2012, 09:05 AM   #90
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Yeah, that was my understanding.

I did read for agreements over 25k the hand back after halfway is not allowed.
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      07-04-2012, 09:38 AM   #91
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Quote:
Originally Posted by Kerr View Post
I did read for agreements over 25k the hand back after halfway is not allowed.
That used to be the case years ago but isn't now
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      07-08-2012, 02:56 PM   #92
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A friend of mine is in the process of adding to his mortgage to help finance a Scuderia.
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