Audi Finance

1pudding1 · 24 Jul 2007 at 12:02

Hi all. Looking at getting an A3 2.0Tdi. Seen a second hand one in a dealer for ~£14,500. The finance for PCP theyve quoted me with 0 deposit works out at £313.38 for 48 months with a £4422.25 final balloon payment. Overall this is approx £5000 more than £14,500. Is it a decent deal? Seems to be a lot to pay, or is this typical of these kind of finance deals? What other better ways to buy the car is there out there?

Thanks.

[TW]Fox · 24 Jul 2007 at 12:03

Of course its not a decent deal, you are paying £20k for a £15k car.

Get a bank loan at about 6-7% apr with a decent deposit.

Dolph · 24 Jul 2007 at 12:13

[TW]Fox said:
Of course its not a decent deal, you are paying £20k for a £15k car.

Get a bank loan at about 6-7% apr with a decent deposit.

That all depends on credit ratings. Many people can't get an unsecured loan of that sort of amount at that sort of APR. Car finance tends to be more expensive but is easier to get because it's secured on the car.

Mind you, even at 10% it's still going to be cheaper, just not so much cheaper, although the monthly payments will be more like £400 than £300 if borrowing (for example) £14k.

Jono · 24 Jul 2007 at 12:13

What fox said ^^

edit - but also what dolph said.
Bank loans do seem to be harder to get than car finance..

panthro · 24 Jul 2007 at 12:18

[TW]Fox said:
Of course its not a decent deal, you are paying £20k for a £15k car.

Get a bank loan at about 6-7% apr with a decent deposit.

Agreed on the basis that you can get an unsecured bank loan and have a cash deposit to put down. Even if you dont have a deposit to put down, look into the bank loan as it is a much better option than the PCP Audi have offered you. Plus there would be no balloon payment at the end.

Morba · 24 Jul 2007 at 12:20

Jono said:
Bank loans do seem to be harder to get than car finance..

could that be because its actually tied to the car, so it can be repossesed if needed, compared to a bank/other loan which has no ties (unless its secured)?

yes i am asking that for real!

jamief · 24 Jul 2007 at 12:21

From what I've read you can negotiate the % apr you pay. Should be possible to get that RIGHt down to something sensible.

zain · 24 Jul 2007 at 12:40

You could get a better deal if you shop around but can I just say I think the Audi is not worth it. I am assuming it's an older model (old grill/04 plate), have a look at Seat Leon FR TDI (same engine but brand new) and BMW 320D (Used but you can get a good deal), if you've already made your mind up then I am sorry ^^

jamief · 24 Jul 2007 at 12:52

See -> http://www.tyresmoke.net/ubbthreads...25,26,27,3/Number/1191277/an/0/page/0#1191277

[TW]Fox · 24 Jul 2007 at 13:01

Dolph said:
That all depends on credit ratings. Many people can't get an unsecured loan of that sort of amount at that sort of APR. Car finance tends to be more expensive but is easier to get because it's secured on the car.

If you can't get an unsecured loan at good APR you really need to ask yourself if your circumstances state you can afford a £15,000 car.

Why struggle to finance a £15k car? There are plenty of good £5k and £10k cars. You can even buy an A3 2.0 TDI new shape for £10k now.

Virdi · 24 Jul 2007 at 13:31

[TW]Fox said:
If you can't get an unsecured loan at good APR you really need to ask yourself if your circumstances state you can afford a £15,000 car.

Why struggle to finance a £15k car? There are plenty of good £5k and £10k cars. You can even buy an A3 2.0 TDI new shape for £10k now.

Very good point

lordrobs · 24 Jul 2007 at 13:37

[TW]Fox said:
If you can't get an unsecured loan at good APR you really need to ask yourself if your circumstances state you can afford a £15,000 car.

Why struggle to finance a £15k car? There are plenty of good £5k and £10k cars. You can even buy an A3 2.0 TDI new shape for £10k now.

Have to agree with that.

I would only take out finance if it was against a cash sum for lesser amount than the cash was making me.

ie. If I was to get offered a silly low finance deal of 4% and I had the cash sitting there earning me 5% it would be a no brainer.

zain · 24 Jul 2007 at 14:53

[TW]Fox said:
You can even buy an A3 2.0 TDI new shape for £10k now.

You can? Where?

[TW]Fox · 24 Jul 2007 at 14:56

zain said:
You can? Where?

Look on Autotrader. Quite a few between 9-11k now.

zain · 24 Jul 2007 at 14:59

[TW]Fox said:
Look on Autotrader. Quite a few between 9-11k now.

Can't see any.

[TW]Fox · 24 Jul 2007 at 15:02

Thats....

2004 04 Reg AUDI A3 2.0 TDi3 Doors, Manual, Hatchback, Diesel, 92,000 miles, Red, MOT-01-2008. Air Bag, Body Coloured Bumpers, Central Door Locking, Passenger Air Bag, Power-Assisted Steering, Rear Wash/Wipe, Rev Counter, Alloy wheels, Electric mirrors, Electric windows, Full service history, Radio/Cassette. £7,800.

Because...

2004 04 Reg AUDI A3 2.0 TDi Sport 3dr 140 Bhp 6 Spd New Shape
3 Doors, Manual 6 speed, Hatchback, Diesel, Metallic Silver. Air Bags, Power Steering, Electric Windows, Electric Mirrors, Remote Central Locking, Digital Climate Control, Air Condition, CD Player, Factory Fitted Sports Interior, 17" Alloy Wheels, Front Fog Lights, Trip Computer, Arm Rest, Rear Head Rest, 1 Company Owned, Full Service History, P/X Finance Warranties Available £8,995.

You...

AUDI A3 2.0 TDi SE
140, 53 reg. 04 Model, fAsh, dual climate, Bose cd, ESP, cruise, 91,000 mostly motorway miles, special yellow paint, looks great, truely excellent condition. £9,250

Suck...

2004 AUDI A3 2.0 TDi
Price:
£9,495

At the internet.

West · 24 Jul 2007 at 15:30

Nah, bank loan as others had said.. you will see a big difference in the interest rates.

Dandle · 24 Jul 2007 at 15:35

Be very carefull with Audi finance as from mine and others experience what they tell you is the APR isn't, the APR figure is much higher. My wife noticed this when we bought our car they were telling us it was 6.9% but she noticed it was actually about 12%(being an accountant she had all the figures worked out before we sat with the guy). We went with a bank loan in the end for the bit we needed credit on.

panthro · 24 Jul 2007 at 15:39

Dandle said:
Be very carefull with Audi finance as from mine and others experience what they tell you is the APR isn't, the APR figure is much higher. My wife noticed this when we bought our car they were telling us it was 6.9% but she noticed it was actually about 12%(being an accountant she had all the figures worked out before we sat with the guy). We went with a bank loan in the end for the bit we needed credit on.

Thats because they never quote using APR, its always a flat rate they use. Its the easiest way to catch people out because they dont specify, they will just give you a percentage and expect you to assume it is APR.

zain · 24 Jul 2007 at 15:57

[TW]Fox said:
Thats....

2004 04 Reg AUDI A3 2.0 TDi3 Doors, Manual, Hatchback, Diesel, 92,000 miles, Red, MOT-01-2008. Air Bag, Body Coloured Bumpers, Central Door Locking, Passenger Air Bag, Power-Assisted Steering, Rear Wash/Wipe, Rev Counter, Alloy wheels, Electric mirrors, Electric windows, Full service history, Radio/Cassette. £7,800.

Because...

2004 04 Reg AUDI A3 2.0 TDi Sport 3dr 140 Bhp 6 Spd New Shape
3 Doors, Manual 6 speed, Hatchback, Diesel, Metallic Silver. Air Bags, Power Steering, Electric Windows, Electric Mirrors, Remote Central Locking, Digital Climate Control, Air Condition, CD Player, Factory Fitted Sports Interior, 17" Alloy Wheels, Front Fog Lights, Trip Computer, Arm Rest, Rear Head Rest, 1 Company Owned, Full Service History, P/X Finance Warranties Available £8,995.

You...

AUDI A3 2.0 TDi SE
140, 53 reg. 04 Model, fAsh, dual climate, Bose cd, ESP, cruise, 91,000 mostly motorway miles, special yellow paint, looks great, truely excellent condition. £9,250

Suck...

2004 AUDI A3 2.0 TDi
Price:
£9,495

At the internet.

That is not the new shape though and there is a world of difference between the early 04 models and the newer ones.

Immature and pathetic attempt by the way, each to their own I guess.