New Aussie Member :)

[MrBlonde]

Peter, good advice to look at John's Alpine White 1M if you can go used over new.

[Knightelf]

Originally Posted by flinchy

I take it that $350/week for 4 counts their buy back and you getting a new model? As that's 72k out of the 81 purchase price

After interest the purchase price is likely over $100k.

There'd be a chunk of residual balance to be paid out after 4 years or re-financed, probably something like $30k. Or you "give" the car back and call it square.

[John_01]

Congrats on the new car. Alpine white & manual is a very good choice!

Very fun car overall.

[flinchy]

Originally Posted by Knightelf

After interest the purchase price is likely over $100k.

There'd be a chunk of residual balance to be paid out after 4 years or re-financed, probably something like $30k. Or you "give" the car back and call it square.

wow, the thought of that is :/

almost like 'hiring' a car (with exactly the same restrictions on it just about) for 4 years

so realistically it's more like a 7 year loan, except it lasts for 4 and you don't own the car

[Rob32R]

Welcome, nice spec 135i.

[PeteA]

That's correct. At a 8.9% interest rate that's approximately 6k-7k in repayments on just interest per year. Overall purchase price is about 104k (including residual) at the end of the term. (that is approximately 38k residual)

Hence, I am looking for other options, as that's a very hefty interest rate. Even more so when i see stuff like Holden .5%, Mitsubishi .9% Audi (some models)/Nissan 1.9% and Renault 0%!

Remember too, its over 4 years. A dollar today is worth more than a dollar tomorrow. It's one thing to pay 105k in one boom, another thing to do it over 4 years.

Nevertheless, I'm looking for a better deal. 9% give or take is too much.

[Smiley1175]

From memory I think my interest was 6.75% from BMW finance at the dealership just a month ago (Chattel mortgage).
Shop around but I'm fairly sure you can find better.