Finance questions

[TripleD]

Hi all,

I'm looking to purchase either an A4 Avant Dynamik or an S3 Sportback.
I get a car allowance from my work of £500 before TAX, so about £350ish

I currently have a 58 plate BMW 320d Edition M Sport Touring, having owned it for 2 years and put down a 6.5k deposit it's now in negative equity by about £1800. So don't really want to repeat this problem again. I think this is because I took BMW Select PCP deal over 4 years, should have done it over 3 as I want to change every 2 years. And BMW residuals suck!
I do about 20,000 miles per year, any the BMW deal was done at 15,000 to 'lower the payments' which doesn't help because if I even wanted to go down the route of VT, then with the mileage difference it's less hassle to just pay off the neg equity!

I had a look at a 59 plate S3 for £21,995 got a quote from Audi of deposit £5500 (£1800 of that to clear the Negative Equity) then monthlys of £400. It's only one 18500 miles but doesn't have all the gadgets like sat nav, and I don't want a TomTom cable permenantly scattered across the dash.

I've just found through the Marks and Spencer website that they do a "car buying plan". Looks like no setup costs, defer 40% and no deposit! Has anyone taken this kind of route rather than the main dealers PCP plans? Has anyone used M&S with good or bad reports? Are there any other good other options out there?

 

[johnnythepie]

have you thought about leasing, your payments account for depreciation and you get a new car every 2 years
Audi Leasing | Audi Lease for A4 2.0 TDIe S-Line 136ps 4 Dr

check out thier other deals

 

[TripleD]

Haven't thought about leasing as it's mostly aimed at businesses and don't really know much about it.

Can you lease directly from Audi? Or do you have to find a deal in the mind field of websites?

 

[ABYSS]

Check out Car leasing | Contract hire | Van leasing

Mercedes are offering some cracking deals at present.

 

[TripleD]

So done a bit reading and sounds okay, some deals can cover ll the maintenance, road tax, etc.
Defo too young for a merc.

Although the problem comes into play is what to do with my car, can hardly trade it in with a PCH

 

[TripleD]

Does anyone know what the finance APR rates are like on a brand new car?
Just been through the car configurator for an S3 Black Edition, and comes out at £34k but NO WHERE on the Audi website does it give you an example finance?!
On the mercedes website it lists out some typical examples and the APR rate with Merc's are 5.6% I know BMW's was 11.2% because I brought one from them, but what's audi's new car APR rate?