Join Date: Jul 2006
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Hi there, from what I understand, if you have kept your current car in exceptional order, and the mileage limit has not been exceeded - then the minimum guaranteed future value MGFV is the least
you can expect to go towards you new car.
You may have the option of carrying any extra funds over to your new car (lowering your monthly payments or upgrading the spec), or to receive a cash benefit. The terms will be listed definitively in your contract.
I'm sure so long as the mileage limit isn't exceeded, and the car is in good order (what would be reasonable for its age/mileage), then you have no more to pay.
It does carry benefits, but as you say - you never own the car (which some do view as a -ve).
All the best,
This job should never be complete - the day I think I've done it all, is the day I resign.
Currently in VelSatisfied's garage:
2005 FIAT Ducato 2.8JTD LWB Gran Volume, 2000 Kawasaki ZZR 1100 D7 'fullpower' in black + full GIVI & KAPPA luggage, 2007 MB R-Class 320 CDi Sport LWB uprated by Brabus to 300Bhp don't know if there's a 155mph limiter - will be fun finding out! 2004 Mercedes Vaneo 1.7 CDi Ambiente 7-seater