CSL depreciation over the next 3 years?

[hughjayteens]

I know that no-one has a crystal ball for things like this, but am considering a CSL on finance which will have a balloon payment in 3 years time, and I am just curious as to what people think the values might be by then.

If I spent say £30k on a car with 35k miles, put down a 10% deposit, did 12k miles a year, the balloon payment I am being quoted is circa £12k. I would like to think that even with 70k miles on the clock, a car as rare as the CSL *should* be worth considerably more than £12k in the 3 years time, but what is the general consensus of opinion?

Cheers

Chris

[hughjayteens]

RMac said:

Have a word with Oracle finance - they are a broker and are vey good people to deal with. I dealt with Natalie.

I have a £20k Baloon after 2 years. I am basically just paying interest only!

It was a doddle to set up.

Really chuffed.

It was Oracle I spoke to today oddly enough - the 10% deposit and 12k balloon after 3 years were the first figures they came up with (11% APR was a bit steeper than I expected though - monthly payments are circa £440). Can I ask what your figures are (email me if preferred)

[hughjayteens]

RMac said:

I borrowed £20k & the baloon is £20k in 2 years. The APR is sub 10% and I pay about £150pm (it may be £170! I can;t remember)

The car had done 26k miles when I bought it and based on me doing 8k p/a i think.

I guess we are a little further into a recession now than we were a few months ago but it is secured finance and base rate hasn't gone up. I can imagine value predictions could have gone down a bit.

The Finance was placed through Lombard & they sent someone out to inspect the car. It was a private sale.

That works out at 9% APR if my brain is still working, which is noticeable improvement on 11%. Hadn't considered such a large balloon, but as I will probably only want to keep the car 2 years and am hopeful values should stay firm, it is an interesting way to look at things. Hmmm, maybe a 996GT3 is worth a look!!