Quick question I was hoping someone could assist with.
How is the Half Rule affected, if at all, on a vehicle HP agreement when there is a balloon payment at the end of said agreement?
In this case, it's a BMW Select agreement through BMW financial services / Permanent TSB where the agreement has a Guaranteed Minimum Future Value on the vehicle, underwritten by BMW Ireland?
The half rule is based on the total hire purchase price, which would include any balloon payment.
So, for example, say the total HP price is €40k, including a €10k balloon payment, you'd have to get to €20k in payments before you could return under the half rule......