Financial advice regarding potential car purchase please
Discussion
Hello everyone. After some financial advice please. Will try to be clear as possible.
Current car is 8 months old – owe 19.4k on finance for it. Looking at an approved used 435i. BMW have offered me 18k for current car, this is the best he can do and he "can't really" knock anything off the price of the 435i (29k).
Really wanted to go approved used from dealer as I'll get a decent warranty which is the only reason.
My salary is 39k per year this can be 60k with overtime (not guaranteed but have done this last 6 years), I have a £320pm mortgage and apart from the current car (£300pm) no other debts.
Don't really go out much nor spend on lavish holidays etc and have 12k savings in a ISA.
My question is am I at the point where I would be better off buying a 440i new as the dealer says he can give me a much lower APR and give me a significant discount from list price. Or am I at the point where I may be better to lease?
If it's relevant I do 20 miles per day with weekend blasts, I'd say no more than 8-10k miles per year
Current car is 8 months old – owe 19.4k on finance for it. Looking at an approved used 435i. BMW have offered me 18k for current car, this is the best he can do and he "can't really" knock anything off the price of the 435i (29k).
Really wanted to go approved used from dealer as I'll get a decent warranty which is the only reason.
My salary is 39k per year this can be 60k with overtime (not guaranteed but have done this last 6 years), I have a £320pm mortgage and apart from the current car (£300pm) no other debts.
Don't really go out much nor spend on lavish holidays etc and have 12k savings in a ISA.
My question is am I at the point where I would be better off buying a 440i new as the dealer says he can give me a much lower APR and give me a significant discount from list price. Or am I at the point where I may be better to lease?
If it's relevant I do 20 miles per day with weekend blasts, I'd say no more than 8-10k miles per year
Sorry guys should have been more clear. The current car I got at a heavily discounted price through the Ford privilege scheme. I have to keep it 9 months before I can sell it. I want to get rid as I don't like it plus due to a knee problem I'd really benefit from having an automatic car now.
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