Options on getting a GT-R
Newbie to the forum...been lurking for a few weeks and reading all the topics about the GT-R I am now looking into getting one :clap:
Currently own a modded 350z and have had it for 3 years...love every minute of it but looking for something with more power and the GT-R seems the sensible way to go :thumbsup:
I am not in a position to pay for my GT-R fully in cash so am looking into finanace...I have had a HP car before but never done a PCP...reading on the web I have a few questions and seeing as there are a few chaps here that seemed to have done it...can someone explain a few things to me ?
The quote :
Vehicle Price £42,000.00
Total Deposit £15,000.00
Balance to finance £27,000.00
First payment £533.32
Followed by 34
Regular monthly payments £384.32
Followed by a final payment £21,044.81
Term of agreement 36
Total Amount Payable £49,645.01
Total Interest Payable £7,347.01
Option to purchase fee ** £149.00
Acceptance fee * £149.00
Based on annual mileage of *** 7000
Right so I understand the basics...I pay a deposit and a monthly until the 26the month when I will have to pay 21,044.81 if I want to keep the car...
However if I decided to hand the car back to the finance company after 3 years and the value of the car is say 30k...how much am I left with or left to pay ? That is the part I cant seem to get my head around.
Sorry if this is in the wrong section....any help is much appreciated :wavey:
You have a similar agreement to what I have, but let me tell you straight off the bat that the interest is waaaay too high. I am paying around 5% APR on mine.
I think my figures were:
purchase price £48K
deposit around £19k
36 month agreement at 406gbp per month
I opted for lower ballon of around £18.5k (but was offered up to 23k afair).
If you want I can see whether my asset finance guys are taking on more business because 11%+ is taking the piss unless you have a bad credit rating?
p.s. at 36 months you are left with what your car sells for minus the final payment.
If you pay the final payment.
You walk away or you pay the final amount.
if the car is worth a lot more, it makes sense to pay it and then sell it. If it's worth less, you hand it back. That's the beauty of a pcp as you always know where you stand and have no risk at the end, but you pay more for the security of being able to walk away.
It used to be that main dealers would value the car come hand back time, and give you the positive difference as a deposit towards the new car as an incentive to keep you in the brand, but I'm not sure they do that anymore.
Thanks that was from Nissan themselves I just used it as an example so someone could explain what Id be left with at the end of it all.
So if I sold the car at 30k...and my final payment is 21k id be left with 9k
so the cost of the car would be 6k (ive lost from the deposit) plus 13.6k in monthly payments ?
Just want to make sure my maths works out :)
Christer - If you can drop me a pm with their details I am happy to contact them myself :thumbsup:
Your maths look right, but please don't bank on the car being worth 30k in another three years.
12k in depreciation in three years would be fantastic if it really is achievable.
You guys have answered all the questions but deffo APR to high. I would have thought 8% more realistic from a Nissan dealer. They have quite a bit of movement normally and that sounds like a starting point APR. So go beat em down buddy. Mind blowing car and well worth £300 a month ish.:thumbsup:
Cutting edge cars also date fast and unless they achieve rare and classic status won't hold value.
Just my 2 pence....
What you must do is play Nissan finance off against another finance company or even a fictitious one. I got my monthly payments down with the same deposit and very similar balloon payment from an initial 850 per moth to 470! Just by saying I had a better deal elsewhere. Oddly enough it was also cheaper over 24 mnths than 36.
Also each pcp finance agreement comes with a minimum future value so if it's actually worth more sell and pay off the balance if it's worth less drop the keys off to the finance company it's there problem.
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