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Car Finance .

  • 23-10-2021 1:01pm
    Registered Users Posts: 255 ✭✭ GusGus

    Can anyone assist - my head is wrecked

    if a car costs €66000

    if my deposit is €19800 and the GMFV is €24640

    apr 3.9%

    over 3 years are my monthly’s €800.33???

    seems high

    iv been to three garages and all are giving different figures for similar car .


  • Registered Users Posts: 8 oldblues

    What do you think it should be?

    Also need to know if the €19,8k is trade in or cash deposit?

  • Registered Users Posts: 255 ✭✭ GusGus

    Cash deposit . Well different garage for very similar car €64500

    says monthly’s would be €639 with deposit at 30%

  • Registered Users Posts: 50,116 ✭✭✭✭ bazz26

    Are they giving finance figures off the retail price or discounted price of the new car? Are they adding/excluding other things like a service plan into the monthly figures? Some will also hide the cost of things like paint protection, etc into the figures.

    It's very easy to hide these things into monthly figures as it can only add maybe €20 onto the monthly figure which the customer may not take much notice of. Also many people only focus on the monthly cost and don't actually know who much the car and credit is actually costing over the 3 years. PCP is not regulated the same as other forms of credit so it's very easy and a potential sharp practice to sugar coat or sneak costs into figures.

    I'd suggest getting a statement from each dealer with a detailed breakdown of the finance figures and then ask each dealer why their figures are different for the same product.

  • Registered Users Posts: 1,751 ✭✭✭ LillySV

  • Registered Users Posts: 255 ✭✭ GusGus

    BMW 4 series .

    oh listen I know about sharp practice . I already knocked a 1100 of stuff I didn’t want .

    I guess my question is - Hiw is it possible

    €66000 = €800 monthly

    €64500 = €639 monthly

    apr 3.9 and over 37 months .

    I’ll deal with the extras separately .

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  • Registered Users Posts: 3,112 ✭✭✭ carsfan2

    Put the figures into a pcp calculator yourself to see what is right.