Hi Guys,
Does anybody have any inside info on how the Audi Finance works or if there is an Audi Finance Calculator online somewhere?
I am just 3 weeks into a 4 year PCP contract with Audi and put down 10,000 miles per year (which was probably going to be tight to be honest). Work have just opened a new site and it turns out I am going to need to travel between my site and this new one on occasions. I am trying to work out whether I am better off changing the finance agreement to 12,000 or even 15,000 miles per year and presumably have to pay extra on my monthly payments. Or whether to take the hit on the excess mileage charge which is 5.8 pence per mile.
Excess Mileage if I end up doing 12,000 a year would be 8,000 miles over 4 years. Works out at £464 or £9.67 per month.
Excess Mileage if I end up doing 15,000 a year would be 20,000 miles over 4 years. Works out at £1160 or £24.17 per month.
Does anyone know how I can work out what the equivalent increase in monthly cost would be if I changed the annual mileage on the finance agreement to 12,000 or 15,000 miles? I have asked my dealer to check but now that he has sold me the car he might not be so quick to reply!
Cheers in advance or any info.
Edit: Just for further info incase it makes a difference. I am currently planning on renewing the PCP and getting a new car either at the end of the 4 years or before if Audi come and offer me a new deal. One of the business managers at a dealership I went to told me that if I am handing back and getting a new car then I will not be charged an excess mileage fee. I assumed this was rubbish he was talking just to get me to sign the deal but after googling this has come up in a few places now. In which case you would surely always be better off choosing the lowest mileage on offer and handing back early??
Edit 2: Ignore the last edit. I have just checked my finance agreement and it is indeed rubbish. If I want to hand back my car (or appoint Audi as a selling agent) at any point then I have to settle all charges including excess mileage charges (which will be scaled down proportionally if handed back early). Knew it was too good to be true when the Business Manager said it!
Does anybody have any inside info on how the Audi Finance works or if there is an Audi Finance Calculator online somewhere?
I am just 3 weeks into a 4 year PCP contract with Audi and put down 10,000 miles per year (which was probably going to be tight to be honest). Work have just opened a new site and it turns out I am going to need to travel between my site and this new one on occasions. I am trying to work out whether I am better off changing the finance agreement to 12,000 or even 15,000 miles per year and presumably have to pay extra on my monthly payments. Or whether to take the hit on the excess mileage charge which is 5.8 pence per mile.
Excess Mileage if I end up doing 12,000 a year would be 8,000 miles over 4 years. Works out at £464 or £9.67 per month.
Excess Mileage if I end up doing 15,000 a year would be 20,000 miles over 4 years. Works out at £1160 or £24.17 per month.
Does anyone know how I can work out what the equivalent increase in monthly cost would be if I changed the annual mileage on the finance agreement to 12,000 or 15,000 miles? I have asked my dealer to check but now that he has sold me the car he might not be so quick to reply!
Cheers in advance or any info.
Edit: Just for further info incase it makes a difference. I am currently planning on renewing the PCP and getting a new car either at the end of the 4 years or before if Audi come and offer me a new deal. One of the business managers at a dealership I went to told me that if I am handing back and getting a new car then I will not be charged an excess mileage fee. I assumed this was rubbish he was talking just to get me to sign the deal but after googling this has come up in a few places now. In which case you would surely always be better off choosing the lowest mileage on offer and handing back early??
Edit 2: Ignore the last edit. I have just checked my finance agreement and it is indeed rubbish. If I want to hand back my car (or appoint Audi as a selling agent) at any point then I have to settle all charges including excess mileage charges (which will be scaled down proportionally if handed back early). Knew it was too good to be true when the Business Manager said it!
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