As title, im looking at a used car with example details below
Deposit £5,000
Monthly fee £500+
Term 36 months
OTR price £30,000
Total amount of credit £25,000
Optional final payment £15,000
Apr 10.9%
My question is, is the optional final payment of £15,000 included in the credit amount of £25,000? So if i wanted to get a bank loan at a better apr i would just need to finance £10k over the specific term? And then i choose what to do with car at the end of the term?
Deposit £5,000
Monthly fee £500+
Term 36 months
OTR price £30,000
Total amount of credit £25,000
Optional final payment £15,000
Apr 10.9%
My question is, is the optional final payment of £15,000 included in the credit amount of £25,000? So if i wanted to get a bank loan at a better apr i would just need to finance £10k over the specific term? And then i choose what to do with car at the end of the term?
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