Quote:
Originally Posted by kharmael
I whacked a £4650 deposit in initially and the GMFV for my 1.8EX is somewhere in the region of £7487 (Off the top of my head).
OTRP = circa 18,930
- 4650 = 14,280
37 * 250 = £9250 total repayable (excluding deposit) with either a final payment of £7552.39 OR the MGFV of £7487.39 which would be the value of the deposit for your next car.
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Nope. The difference between the value at that time of your car and the MGFV is your equity. So, say the car is 'worth' £8487.39, you'd get a grand back.