0% APR on New 1 Series registered by 30/11/17

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markm240i
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by markm240i » Wed Nov 15, 2017 11:04 pm

minnsole wrote:
Wed Nov 15, 2017 10:53 pm
Bit of a worry for a few people as when they come to the end of their term they will either be around £2000 in negative equity. Or good new for the 0% who could be about £2000 in equity


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You can't be in negative equity at the end of the term. You just hand it back and start again.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by minnsole » Wed Nov 15, 2017 11:07 pm

Yeah but being realistic how many people stay within the mileage and get to the end of the term.


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markm240i
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by markm240i » Wed Nov 15, 2017 11:14 pm

minnsole wrote:
Wed Nov 15, 2017 11:07 pm
Yeah but being realistic how many people stay within the mileage and get to the end of the term.


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But that's not what you said :-)

Obviously you have to factor in price, discount, interest, mileage and GFV.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by moulin12 » Thu Nov 16, 2017 7:14 am

GFV is exactly that, guaranteed future value. Other things being equal - and unless the bottom fell out of the market - one car's value does not depreciate more than another's. If you're any where half decent in negotiating your next car, you would get the going rate for the car as a px. You are not paying more. If the discount price on the 0% was anything more than a couple of hundred over the trl price, then I'd go for that. If less then you might think that 200 quid was worth paying to give you protection from the bottom falling out of the market.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Jack@AUTOID » Thu Nov 16, 2017 8:03 am

Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?

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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Compactpete » Thu Nov 16, 2017 8:54 am

Jack@AUTOID wrote:
Thu Nov 16, 2017 8:03 am
Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?
But why on earth would you try and sell the car privately if its worth less than the GFV? Just hand it back and walk away?
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minnsole
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by minnsole » Thu Nov 16, 2017 9:04 am

Jack@AUTOID wrote:Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?

Yeah exactly this a lower GFV is a lot better. You pay more over the period but you should be in a better position when it comes to the end. And like I said above how many people end up going the full 3 or 4 years.


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Re: 0% APR on New 1 Series registered by 30/11/17

Post by minnsole » Thu Nov 16, 2017 9:07 am

Compactpete wrote:
Jack@AUTOID wrote:
Thu Nov 16, 2017 8:03 am
Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?
But why on earth would you try and sell the car privately if its worth less than the GFV? Just hand it back and walk away?

Yeah but when Mr Dealer is trying to sell you a new car and they say the mileage does not matter that much as no one hands the car back in and you go in at the end over the mileage that’s never good.


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Re: 0% APR on New 1 Series registered by 30/11/17

Post by chappie172 » Thu Nov 16, 2017 9:15 am

minnsole wrote:
Thu Nov 16, 2017 9:04 am
Jack@AUTOID wrote:Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?

Yeah exactly this a lower GFV is a lot better. You pay more over the period but you should be in a better position when it comes to the end. And like I said above how many people end up going the full 3 or 4 years.


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What do most people do when they are in PCP? i normally buy my cars outright but looking to go PCP route.. Do people normally trade in after 3years on 4 year PCP? Walk away or trade in for a new PCP? if you terminate early, does it affect your credit rating as you not completing the original agreement?

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Compactpete
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Compactpete » Thu Nov 16, 2017 9:18 am

minnsole wrote:
Thu Nov 16, 2017 9:07 am



Yeah but when Mr Dealer is trying to sell you a new car and they say the mileage does not matter that much as no one hands the car back in and you go in at the end over the mileage that’s never good.


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The car is worth what the car is worth regardless of whether you went PCP, HP, Cash, Bank Loan.

If you've gone over your mileage on a PCP then you've had more use of the car than you paid for. So will have to pay it at the end or lose it into a new deal.
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Compactpete
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Compactpete » Thu Nov 16, 2017 9:22 am

chappie172 wrote:
Thu Nov 16, 2017 9:15 am


What do most people do when they are in PCP? i normally buy my cars outright but looking to go PCP route.. Do people normally trade in after 3years on 4 year PCP? Walk away or trade in for a new PCP? if you terminate early, does it affect your credit rating as you not completing the original agreement?
No, as long as you make your payments on time and settle any outstanding balance at the time of termination then it can't affect your credit rating.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by wenklaw » Thu Nov 16, 2017 9:33 am

Jack@AUTOID wrote:
Thu Nov 16, 2017 8:03 am
Correct me if I’m wrong, but isn’t a lower GFV a better thing? This gives you more room for equity when trading the car in at the end of the term?

I’m having an issue with the car I’m in at the moment where the GFV is possibly too high, leaving me I’m negative equity if I were to sell the car privately.

If the interest rate is being transferred to a lower GFV I would see this as a positive. Right?
A lower GMFV isn't particularly better if you intend handing the car back in and you want to keep monthlies lower. It also isn't better in that case with 0% finance being offered if you are going to trade in after the PCP term. You are taking a gamble assuming you will have equity in the car based on a lower GMFV.

However lower GMFV could be better though at 0% APR as it would be unlikely you would be able to refinance the balloon payment at 0%, therefore paying off as much as you can at 0% would make sense if you intended to buy the car at the end of the PCP with another loan. If cash again I would go for a higher GMFV everytime

Basically large or small GMFV suit different people and it all depends on interest rate, how long you intend keeping it etc etc.

For me though 0% APR would mean as little in as possible with as high GMFV as BMW would give me and put the rest of your cash away.

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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Compactpete » Thu Nov 16, 2017 9:43 am

Be careful of 0% PCP deals if you think you may part ex or sell before the end of the 4 year term.

It's easy to think that even if the level of discount is less you'll save that in interest which to a point is true. However if you terminate after say two years of a 0% agreement you won't get any interest rebate obviously whereas on a standard rate you would.

Depending on exact figures you could owe less on a 4.9% deal after two years than you would on a 0% deal even though the total amount payable was more on the 4.9% deal.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by Thrash » Thu Nov 16, 2017 11:03 am

I've seen these deals before and then when you enquire things aren't quite as good as they seem. In real terms, the cost works out roughly the same, just depends whether you'd rather save on the interest or on the price of the car, I don't think it makes too much difference either way.
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Re: 0% APR on New 1 Series registered by 30/11/17

Post by MI35i » Thu Nov 16, 2017 12:30 pm

15484 is the same GTFV TRL offers for a 5door 4yr. This Vardy deal seems good. 338x48 = 16224. £4056PA. Best ive seen in a while.

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