Car financing...

[tanoga]

Martian
I got to say that did bring a [img]images/graemlins/biggrin3.gif[/img] to my face.

[daddyjohal]

Oh here we go again
Within interest rate calculations there is a something called the "the rule of 80/20" This essentially means that you can't take one headline number and divide/times it to get an exact same calculation.

Hence your taking my (approx) 2.1 multiplcation of the flat rate to give the APR does not reference back when you divide it to try and attain the flat % rate.

I am reasonably up to speed on these things .

Sorry your 80/20 rule does not apply here as your 2.1 factor applies both ways -if APR =Flatrate*2.1 then Flatrate= APR/2.1- the 80/20 rule applies to adding perecentages to values (eg VAT) not multiplying/dividing by a constant factor.
I think the problem is that the 2.1 factor is basically incorrect- by your calculation B of E Base of 3.75% would give an APR of 7.9%- and anybody lending at less than 7.9%is lending under base. Does'nt make sense to me.
Anyway the point is that Flatrate of 3.5% as quoted to Riz is VERY competitive.
Phew [img]images/graemlins/spineyes.gif[/img]

Oh FFS I give up...go buy a damn car with your cash then.. [img]images/graemlins/rant.gif[/img]

If you're going to the meet on the 28th we can debate it over a pint maybe...paid in cash of course as we wouldn't want to trouble the finance question.. [img]images/graemlins/ban.gif[/img] [img]images/graemlins/062802drink_prv.gif[/img]

p.s. If you're so sure on your sums what's the flat rate of, for example, 5.6% APR?? [img]images/graemlins/sloppy.gif[/img]

FLMAO. I'm sorry we've worked you up so much mate! [img]images/graemlins/roflmao.gif[/img]