Quote: Originally posted by Matt Wills on 22 June 2005
1. You?
2. The finance company?
3. Your Mum or Girlfriend/Boyfriend?
4. Darth Vader (sorry I am a little bored this morning)?
me - nae long before the loan is paid off as well
Quote: Originally posted by BluePete on 22 June 2005
All registered to me, paid for by a passed away relative..
^ Ditto
Guess so but I just had to have it! At least my insurance isnt too bad.Quote: Originally posted by rory182 on 22 June 2005
cool, does that put us in the running for poorest 182 owners MB?
EVERY finance deal is like this - its part of the consumer credit act or whatever. Once a certain amount has been paid back (usually around) 50% you can do a Voluntary Termination and terminate the finance agreement. Obviously when you terminate the agreement without full payment you have to hand the car back, but if its worth less than you owe, youre a winner!Quote: Originally posted by stu182 on 22 June 2005
Do many people have this kind of agreement? Honda tried to sell me this kind of deal when I was considering a CTR before buying the 182. As the car depreciates fastest in the first couple of years, cant the running costs be as high then as they are when its a bit older and has higher servicing costs, and hence leave you out of pocket and car-less at the end?Quote: Originally posted by admob on 22 June 2005
finance, which is great as once paid 51% its going back, so depreciation or wear & tear isnt an issue.. i consider it as a lease car really.... if its worth more than wot i owe at trade in time then ill try & sell it private.. cant really lose.....
Guess it must be pretty good if you can pick up a 6 or 12 month old car on that sort of agreement though, as the first owner will have taken the biggest depreciation hit.
Not really - the interest rates of finance are generally a lot higher than bank loans, so youll already have been paying more than you should!Quote: Originally posted by PeteB on 23 June 2005
if its worth less than you owe, youre a winner!