What sort of discount?

AdrianHi

Honkycat wrote: »

The interest free credit on the Mazda is appealing (though with 50% deposit). We went to a Mini dealer today and they tried to interest us in their finance scheme. It involves £3400 in interest payments over 3 years! I really don't like the idea of that. It brings it nearly up to the price of an MX-5 which could be had with interest free credit as well..... probably with more discount than the Mazda 2?
I'm confused.....

You seem to be approaching this by looking at the total cost over the first 3 years and not getting distracted by interest rates, 0% or otherwise. It's the best way to measure the costs IMO.
If no finance were involved the Mazda 2 1.5 Sport 2 door is slightly more expensive that the Mini One 1.4 Pepper Pack over 3 years, but the 50% deposit then 0% over 3 years is as good as several hundred £ in your pocket where the Mini dealer wants £3400 in interest payments presumably on a PCP. The cheaper car here is almost certainly the Mazda 2 even if you have to borrow some of that 50% deposit from elsewhere. The Mini PCP deal probably gives lower monthly payments, but Mazda would do a PSP on the Mazda 2 as well, but it would not be 0% interest.

Honkycat

AdrianHi wrote: »

If no finance were involved the Mazda 2 1.5 Sport 2 door is slightly more expensive that the Mini One 1.4 Pepper Pack over 3 years.

The figures they gave me were that the Mazda Sport is about £11500 and the Mini Pepper about £13500 (maybe you're allowing for the depreciation factor), but yes, that's the angle I'm coming from. I really resent huge interest amounts. They try to pass it off as a managable monthly amount and don't worry about the details... it's a bit like those consolidating finance company ads on TV (why does Carol Vorderman do those??).

AdrianHi

Honkycat wrote: »

The figures they gave me were that the Mazda Sport is about £11500 and the Mini Pepper about £13500 (maybe you're allowing for the depreciation factor), but yes, that's the angle I'm coming from. I really resent huge interest amounts. They try to pass it off as a managable monthly amount and don't worry about the details... it's a bit like those consolidating finance company ads on TV (why does Carol Vorderman do those??).

I'm looking at the What Car "Real Cost" figures where they work out the total cost of ownership over 3 years 36K miles, which includes depreciation which is the biggest part of the cost. The sane would never spend £13500 on a Mini when you can get a Mazda 2 for £11500 if you didn't look at it this way.