Quote:
Originally Posted by dodgy
When the dealer called me to say my car was consigned they also said, if I was interested in putting the car on credit (which I'm not) they could offer me 3.5% over two years. It struck me as quite a good deal, not that I plan to take it.
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One thing to watch out for is whether that figure is charged on the amount remaining or on the whole (initial) amount of the loan over the time period. I was offered something similar, but it turned out the figures were worked out based on the cost of borrowing the whole amount, whereas if I borrowed the money against my mortgage I would be paying off the loan each month and reducing the interest. The result was that the BMW Finance interest charged was twice as much as I expected, so the "3%" loan was less favourable than adding to the mortgage. Best to compare the total payments made, including any deposit, fees and final payments.
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2018 G30 520d M Sport with M Sport Plus - Mediterranean Blue
Previously: 2015 F32 430d M Sport, 2012 F10 520d M Sport, 2009 E92 320d M Sport, 2006 E92 335d, 2004 E60 530d, 2000 E39 525d, 1997 E39 523i