Cars on pcp and pch

[dlockers]

It was an Audi used car on PCP, which I have had confirmed by their service and sales team this morning, it is a recommendation at the moment. In terms of the condition of the car and maintenance up until this point, it's pristine, so I don't want people having some sloppy impression of me. Alternatively after speaking with the sales manager at a local Audi branch, we are looking into a trade in, with a new vehicle which would include branch deposit contribution etc, so the figures, in theory could be more attractive. We shall see.

But PCH is totally out of the question now.

As everyone has rightly said - you are for some reason trying to save a penny by spending several thousands. Explore VTA and get a bicycle if money is the problem, else, suck it up and enjoy your prestigious marque.

'Lump and bumping' negative equity into a new finance deal is how the rich get richer and you get poorer. Do the TCO as I suggested.

 

[xraycat87]

As everyone has rightly said - you are for some reason trying to save a penny by spending several thousands. Explore VTA and get a bicycle if money is the problem, else, suck it up and enjoy your prestigious marque.

'Lump and bumping' negative equity into a new finance deal is how the rich get richer and you get poorer. Do the TCO as I suggested.

The money laid into an existing pcp is dead money as far as I'm concerned as the car was always going back after 3 years max.

I have an offer for a brand new audi a3 sline, same monthly payments as a substantial lower Apr (2 vs 10.9) and all it'll cost is the £1500 negative equity between my settlement figure and their trade in offer.

Plus the timing belt, water pump and service is around £800.

Im paying £700 for a new car with 3 years warranty at the rate ive been paying anyway.

I can see to your point with the total cost etc. But I wouldn't say I'm shifting vast amounts of debt.

 

[dlockers]

The money laid into an existing pcp is dead money as far as I'm concerned as the car was always going back after 3 years max.

I have an offer for a brand new audi a3 sline, same monthly payments as a substantial lower Apr (2 vs 10.9) and all it'll cost is the £1500 negative equity between my settlement figure and their trade in offer.

Plus the timing belt, water pump and service is around £800.

Im paying £700 for a new car with 3 years warranty at the rate ive been paying anyway.

I can see to your point with the total cost etc. But I wouldn't say I'm shifting vast amounts of debt.

You're preaching to the choir. I was in this loop for 11 years. Every car I've had on PCP has had negative equity which I've bumped into another on the same basis. Just like you, I was also indifferent on the car.

The 'clever' alternative is to get a settlement figure and clear it with a 2.9% bank loan, and get rid of the car payment altogether. Then with your new freedom chose a car you actually want (even on PCP if there's a deal going!).

I'm not against PCP at all, just advising you that the only winner in this lump and bump situation is the finance company, and Audi getting to rotate their stock of a fairly generic motor.

 

[xraycat87]

You're preaching to the choir. I was in this loop for 11 years. Every car I've had on PCP has had negative equity which I've bumped into another on the same basis. Just like you, I was also indifferent on the car.

The 'clever' alternative is to get a settlement figure and clear it with a 2.9% bank loan, and get rid of the car payment altogether. Then with your new freedom chose a car you actually want (even on PCP if there's a deal going!).

I'm not against PCP at all, just advising you that the only winner in this lump and bump situation is the finance company, and Audi getting to rotate their stock of a fairly generic motor.

Crazy a 25k+ car nowadays is generic but it's within my budget I suppose.

Won't be getting anything with lockdown now haha

 

[dlockers]

Crazy a 25k+ car nowadays is generic but it's within my budget I suppose.

Won't be getting anything with lockdown now haha

It's not a 25k car though is it. Every Tom, Dick and Harry are buying them with a couple k down and 300 quid a month. Then they are sold at 11% Apr to person 2. Audi are probably making closer to 40k revenue per car over its life - all thanks to people like me and you.

With lockdown taking the decision away from you, do yourself a favour and see if you can refinance your current agreement with a bank loan. I saved 1800quid over a rediculously short period time on my XE by refinancing through Sainsbury's bank. Then when things look more positive you'll have hopefully banked either more equity or got rid of the negative equity to start fresh. Starting fresh gives you a lot more options, as opposed to whatever can cut you a deal.

 

[[TW]Fox]

Im paying £700 for a new car

You're not. You're paying significantly more than that, you just don't realise that.

 

[dlockers]

Crazy a 25k+ car nowadays is generic but it's within my budget I suppose.

Won't be getting anything with lockdown now haha

Also, re-reading the OP, your desire is to change cars. Your current proposal will not allow that beyond this A3 S-line which you didn't want anyway, as you'll be in negative equity in 18 months again (but worse as there is much further to fall on a new car). Trust me. Refinance on a bank loan. Get your head above water on this car.