BMW HP and Contribution Advice
Discussion
Mrs is about to buy a new BMW 4 series convertible. She's been offered Hire Purchase at 2.9% APR and a £2k deposit contribution. Alternatively, she could afford to buy outright.
Having never taken out HP, grateful for a couple of questions answered:
1. If she takes the minimum HP loan amount to secure the deposit contribution, any idea when she can pay off the owed HP balance? Any early repayment penalties to pay? (I cannot work it out from their website).
2. Is a £2k contribution the normal amount?
3. Any general thoughts on whether you'd HP if you could buy outright.
Much appreciated.
Having never taken out HP, grateful for a couple of questions answered:
1. If she takes the minimum HP loan amount to secure the deposit contribution, any idea when she can pay off the owed HP balance? Any early repayment penalties to pay? (I cannot work it out from their website).
2. Is a £2k contribution the normal amount?
3. Any general thoughts on whether you'd HP if you could buy outright.
Much appreciated.
Thanks all, appreciate the insights and advice.
Deal done: 435d Convertible with ALL bells and whistles. LCI car.
Happy with the price and HP deal (which, as suggested, we can pay off if we choose later).
...oh, and car had to be in my name for finance reasons, so in theory, I could get to drive it.....fat chance!
Cheers
Now she just has to be patient until end-May forecast delivery.....
Deal done: 435d Convertible with ALL bells and whistles. LCI car.
Happy with the price and HP deal (which, as suggested, we can pay off if we choose later).
...oh, and car had to be in my name for finance reasons, so in theory, I could get to drive it.....fat chance!
Cheers
Now she just has to be patient until end-May forecast delivery.....
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