I currently own a 62-plate BMW 1 Series hatch, 77k, 15/16k miles p.a. My house mortgage expires in 2 years’ time and I want to change it for a new (or low mileage) Fiesta-type petrol or hybrid car. But I don’t want to own it at the end of its finance agreement, as it will likely be my last car.
What are my options for finance, and how much is my outlay likely to be?
Hi Colin. Most car finance applications require proof of income, so you will need to show that you have sufficient recurring income to cover the payments – most 72-year-olds are no longer working so this can be tricky.
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