Chris NottMonster Motorsport
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  1. #1

    Join Date
    Feb 2010

    question about finance


    I'm interested in people views on finance deals from Audi. I've been quoted 10.2% APR on a PCP deal.
    30,000 price
    9,000 deposit
    21,000 to finance
    over 3 years it will result in Ł26,072.46
    so basically the interest payments total Ł5,072.46
    the break down in payments is Ł311.31 per month and a final balloon of Ł15,176.61
    plus a couple of admin charges that total Ł215

    I'm not quite sure how the 10.2% APR is calculated!

    Ł5000 sounds like a lot of interest! The finance guy mentioned something about not actually having to pay the full amount of interest because I'm able to exit the agreement early and the car should be worth more than the balloon at the end of the agreement... can anyone explain this in plain simple terms for me?! He also said that I could finance over a longer period so that monthly payments are lower and can still exit in 2 or 3 years.

    I've heard all the comments about whether people should finance or not finance, and I'm fortunate enough to be able to make a choice. Right now, I'd prefer to have the liquidity in my cash reserves rather than putting it into an immediately depreciating asset - however, I'm also not keen to pay out a wedge of interest!!

    Thanks for your help guys!

  2. # ADS
    Join Date
  3. #2
    3rd Gear

    Join Date
    Mar 2007
    salford gtr manchester
    10.2% on that amount is scandalouse you will be able to get below 7% if you look round



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