Refused car finance....not sure why!

Daniel987

Eonel wrote: »

Thanks Daniel,

I looked up the M5 current finance deal. To be more realistic, I used 12,000 miles instead of 8,000. BMW are offering 0% finance at the moment that *looks* attractive.

Retail Finance.
On the road cost £73,375
Customer deposit - £6,000
24 monthly payments of £1,102.29
Cost for owning 2 years : £32,454.

Outright purchase.
Autoebid.com £68,885
Parkers part-exchange value of a 2011-61 plate M5 : £41,060
Cost for owning 2 years : £27,825

Eonel, if you'd have looked a few weeks go the monthly cost would have been £480-550! If you go over to the Pistonheads BMW forum you'll see a huuuuge thread on this offer. Many users took them up on the offer because it was a steal.

It's in the region of £18-20k for 2 years of ownership

These kinds of deals are indeed not the norm, you have to look out for them!