Car Finance with Balloon - help needed please
Discussion
m3sye said:
Could someone help please?
I am Looking at a car at 15750.00, I can put 3/4k down, ideally it would it be over 48/60months with a 40% balloon - how much would this work out per month on a realistic APR?
A quick bit of spreadsheet work suggests:I am Looking at a car at 15750.00, I can put 3/4k down, ideally it would it be over 48/60months with a 40% balloon - how much would this work out per month on a realistic APR?
£15,750 car
£3,000 loan
40% balloon (£6,300)
@ 8.4% APR
£200 per month over 4 years
OR £173 per month over 4 years
If you Google, you should be able to find an on-line PCP calculator you can play around with.

Sidicks
I'm also looking at a possible finance deal with a balloon, from BMW. The dealer has started with a quote for 4 years at an APR of 11.4%, which seems huge to me. The cash price of the car is £60,000. My deposit will be £11,000. The balloon is £20k. What is the best rate that you can get from BMW or from others? I know that these balloon deals are expensive, but I'm staggered by the deal that they've proposed.
Skrambles said:
I'm also looking at a possible finance deal with a balloon, from BMW. The dealer has started with a quote for 4 years at an APR of 11.4%, which seems huge to me. The cash price of the car is £60,000. My deposit will be £11,000. The balloon is £20k. What is the best rate that you can get from BMW or from others? I know that these balloon deals are expensive, but I'm staggered by the deal that they've proposed.
I could you a similiar deal for approx 7% Apr on that car - pm me if you want further details.If you don't mind my asking, what car are you looking at for £15k with a 40% balloon after 4 years?
On the subject of APRs, have recently seen a car with an APR of nearly 13% which I thought was extremely high. With some flex on this and the sticker price, it may work out in financial terms for me, but that depends on whether they want to budge.
What, therefore, could be deemed a "reasonable" APR figure to expect a main dealer to drop to on a pre reg car. I stress not new, as I understand these rates are heavily subsidised, hence the lower APRs
On the subject of APRs, have recently seen a car with an APR of nearly 13% which I thought was extremely high. With some flex on this and the sticker price, it may work out in financial terms for me, but that depends on whether they want to budge.
What, therefore, could be deemed a "reasonable" APR figure to expect a main dealer to drop to on a pre reg car. I stress not new, as I understand these rates are heavily subsidised, hence the lower APRs
snorkel sucker said:
If you don't mind my asking, what car are you looking at for £15k with a 40% balloon after 4 years?
On the subject of APRs, have recently seen a car with an APR of nearly 13% which I thought was extremely high. With some flex on this and the sticker price, it may work out in financial terms for me, but that depends on whether they want to budge.
What, therefore, could be deemed a "reasonable" APR figure to expect a main dealer to drop to on a pre reg car. I stress not new, as I understand these rates are heavily subsidised, hence the lower APRs
It was a 335i, tbh I am not sure about balloons I thought that was just standard. What would you recommend?On the subject of APRs, have recently seen a car with an APR of nearly 13% which I thought was extremely high. With some flex on this and the sticker price, it may work out in financial terms for me, but that depends on whether they want to budge.
What, therefore, could be deemed a "reasonable" APR figure to expect a main dealer to drop to on a pre reg car. I stress not new, as I understand these rates are heavily subsidised, hence the lower APRs
m3sye said:
Could someone help please?
I am Looking at a car at 15750.00, I can put 3/4k down, ideally it would it be over 48/60months with a 40% balloon - how much would this work out per month on a realistic APR?
Who's going to offer you 40% ballon on a 335, that's not brand new, over a 5 year term?I am Looking at a car at 15750.00, I can put 3/4k down, ideally it would it be over 48/60months with a 40% balloon - how much would this work out per month on a realistic APR?
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