0% Apr

Strangled

So, just out of interest. Mini Cooper 53 plate is advertised at £10,995.
£99 deposit and the remainder at 0% APR interest over 5 years.

What payment should I expect ??

bluestu

Strangled wrote:

So, just out of interest. Mini Cooper 53 plate is advertised at £10,995.
£99 deposit and the remainder at 0% APR interest over 5 years.

What payment should I expect ??

less deposit is 10896, 5 years 60 payments of 181.60

total to pay 10995

looks good value as long as the car isnt overpriced to start with

bluestu

just checked on parkers, without knowing exact spec and condition you should be able to get a mini cooper on a 53 plate from a franchised dealer for about 9-9 1/2 k

so at worst case they are building cost of finance into car at around 8% APR, you can get a personal loan cheaper than that

Strangled

Thanks for the quick replies. Its not a bad spec actually and only 24000 mile (?) Not really going for it (wife would kill me) as I want one as a second car.Once I've sorted a conservatory that she wants this year and had our hols I'll look into getting one. :-)
PS, dealer prices are quite expensive as they hold their price so well, you may as well buy a brand new one, and , they now have a new spec and shape.

PPS.....just noticed its actually a 54 plate , not a bad price at all.

bluestu

Strangled wrote:

Thanks for the quick replies. Its not a bad spec actually and only 24000 mile (?) Not really going for it (wife would kill me) as I want one as a second car.Once I've sorted a conservatory that she wants this year and had our hols I'll look into getting one. :-)
PS, dealer prices are quite expensive as they hold their price so well, you may as well buy a brand new one, and , they now have a new spec and shape.

PPS.....just noticed its actually a 54 plate , not a bad price at all.

no probs!
yes my missus is desperate for one....but if i could afford one i wouldnt be lurking on the MSE website!!

JonathanA

If it has the desirable chilli pack and is a decent colour (not yellow) then it is worth a shade over £11000 as a retail car - also assumes it has TLC. Mileage for age is about spot on, so looks like a good buy. I had a Mini Cooper briefly which we sold to buy a franchise for my wife, the deal being when things were going well, I could have another one. Still waiting 3 years on..... A very tempting deal though and if it was a choice between a conservatory or a Cooper I'm not sure I could put the conservatory first!!

Strangled

:rotfl: Ha ha.....I normally would'nt either Jonathan, but 'apparently' I always get what I want :T Her friends have bets that I get a PS3 even tho I always say "there's nothing I want"
Must admit, can't really afford it at the mo,holidays this year, and I'm self-employed so cannot push myself too much.
Reason for the original post was I'm always very wary of these 0% deals at car dealerships.

JonathanA

Hmmm. I know that feeling too. I always 'apparently' get what I want, but I don't see a Mini sat outside on the drive!!! Still, it's nice to dream. For £11,000 I'd probably wait a while and get a new one with the options on that I wanted.

0% deals very much depend - clearly this one isn't manufacturer based and they've got to make their money somewhere, but the price doesn't sound out of the way to begin with.....

Strangled

Just thought I'd post a bit of an update, are we all sitting comfortably :-)
Was working at Newcastle-upon-tyne today and passed the 'showroom' concerned on my way home. Thought I'd pop in and take a look at the Cooper. Was met by a salesmen named 'Lee' and said I was making a general enquiry regarding the car. He took me round to see it and said he could do me a finance deal today at 5.6%, I mentioned the 0% this weekend and he told me thats on 50 cars only that they are having trouble selling, and february being a quiet month. The Mini Coopers are not in that 50 (knew my hunch was right regarding 0% deals) Anyhow, still had a look and tbh was not really too impressed,he could'nt tell me the spec about the car and thought the TLC was something like the 'Chilli' or 'Pepper' pack. On returning to my van he asked where I was from, I told him and his answer was " Lovely place if you like to shag your sister' !!!! I was gobsmacked, told him straight away he's lost a possible sale and that was it.
Thought about it on the way home, and on arriving I rang and reported him to the 'Sales Manager' and I must admit he was as shocked as I was. He drove 35 mile to see me in person and is taking it further.I won't mention the company just for any legalities against the MSE website.
Will let you know the outcome if anyone is interested.