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Discussion Starter · #1 ·
Hi fella's,

After some advice as I am new to the finance world having always got personal loans. I am hoping to speak to Will at Jigsaw next week but unfortunately we missed each other yesterday, so just trying to get a good idea of things. In truth the other half has asked a few questions and I wasn't able to give the answers, never a good idea, lol :blahblah:

What on average have people been quoted for the GFV of their GTR's in say 4 years?

Are GFV and Ballon payments the same thing? (By that I mean if you have a ballon of say 20k at the end of the period that's your GFV)

Just trying to get a rough idea of what money would be lost by the end of the contract and where I would go after that .i.e. would i have enough money to put down as a deposit on another car?

Any advice would be greatly appreciated. Excuse my ignorance, lol.

Cheers

Jim
 

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Hi mate.

GFV is what the finance co know they can get for the car at the end of the term of the loan. They are conservative as you normally have the option to pay the GFV and keep the car or walk away. If you know the car is worth more than the GFV you can sell it and use any equity to put a deposit on a new car (or keep the difference). A balloon payment is normally a way of keeping your monthly payments lower and can be of any amount below the GFV. You pay the lump sum at the end of the term with either the proceeds of the sale of the car or keep the car and find the balloon amount some other way.

I'm sure Will will offer you a few options.
 

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Discussion Starter · #3 ·
Thanks for the help mate :thumbsup:

The other half has said go for it but then had said what happens if there's not much difference between the GFV of the car and the price sold for, thus not having a deposit for the next motor!! This was a fairly good point for me to consider as I won't be able to save much up in the mean time.

Jim
 
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