balloon finance on a car at 65k

[mrh1275]

with a deposit of 20k
and monthly payments for 4 yearsor even 5 years
with a highest balloon as possible
how much on average will the monthly payments will be ?
thanks

[johnfm]

Work it out in excel

PMT function.

Set interest rate at 8%

PV = 65K
fv = £30K (THIS IS THE BALLOON)
npayments = 48
rate = 0.08/12

Job done

Or go to one of the millions of pcp websites and get a quote.

[Phooey]

Pour yourself a G&T, sit down, and have a play with this - http://carfinancecalc.com/broombroom/





Then let us know when you pick it up

[mrh1275]

thanks guys

[Phooey]

What you buying

[mrh1275]

997 gt3

[mrh1275]

997 gt3

[Phooey]

Good choice







For a minute I thought you were buying two of them

[mrh1275]

[Mr Car Finance]

Mrh1275

Just looked at your thread and have noted a couple of points.

In this current market if you are buying a used vehicle the chance of getting such a large ballon over a 4 year period on an HP agreement with balloon is almost non existant. Most companies are working on 30 to 35% balloon as a percentage of purchase price, even a GT3 is going to be at best £25000 as a ballon if going to someone like Alphera, ING or Lombard. This is due to the voluntary termination clause in regulated HP agreements, their expose to risk is greater on vehicles with larger balloons. This ethos unfortunately doesnt change if you manage to satisfy High Net Worth criteria and go for a variable rate scheme. The balloon percentages are still the same!

Depending on the rate a HP/PCP will be somewhere around the £700 per month mark over 48 months with a £20k deposit and a £25k balloon

The reality is that the GT3 will probably be worth quite a bit more than the balloon at the end of the agreement but at the sacrifice of a sensible rental

Good luck all the same

Regards