AH FabricationsEM Tuning
Results 1 to 2 of 2
  1. #1
    1st Gear

    Status
    Offline
    Join Date
    Apr 2013
    Posts
    197

    Audi Finance calculations

    does anyone here know how Audi calculate their "excess charges" when they give you a finance quote? I did question the salesman specifically about what it includes, but he just comes back with its the interest etc + any admin charges - which doesn't exact tell you a lot! I ran some figures when I got home based on the APR they quoted of 6.3%, and the interest alone (assuming I was calculating correctly came up to ~600 more!). Also how do they do the estimate for the balloon payment? (I know its down to mileage/wear tear and depreciation)I just like to see exactly what I might be signing for (+ if they are trying to sneak extras in like GAP without telling you)

  2. # ADS
    ADS
    Join Date
    Always
    Posts
    Many
     
  3. #2
    RossR's Avatar
    2nd Gear

    Status
    Offline
    Join Date
    Apr 2013
    Posts
    490
    I wouldn't say I'm an expert on this but hopefully I can help.

    There's a good explanation of PCP here: Car Finance: The PCP (Personal Contract Purchase) Explained | The Car Expert

    The final payment is not an estimate. It is a fixed amount. It is expected to be slightly lower than the value of the car at that time.

    The APR is not the interrest rate. I think the interest rate for Audi's PCP at the moment is 5.9% fixed rate. The total amount payable is the amount borrowed + interest + a couple of other fixed amounts (usually acceptance fee and option to purchase fee). The couple of other fixed amounts have the effect of increasing the APR from 5.9% to 6 and a bit.

    Did you calculate the interest using the "flat rate" method? That would give you a significantly higher amount than the method that Audi use.

 

 

Similar Threads

  1. Audi Finance
    By smo in forum General Automotive Chat
    Replies: 1
    Last Post: 17th February 2010, 21:36
  2. Audi finance, part exchange and not happy customer
    By k84 in forum A3/S3/Sportback (8P Chassis)
    Replies: 25
    Last Post: 24th July 2009, 20:59
  3. URGENT AUDI Finance/Dealer Query Contractatual Issue
    By Nza in forum Audi S4/A4/A4 Cab (B7 Chassis)
    Replies: 46
    Last Post: 10th June 2009, 17:07
  4. Audi Finance?
    By WolvesPhil in forum A3/S3/Sportback (8P Chassis)
    Replies: 43
    Last Post: 8th August 2008, 14:22
  5. Audi Finance
    By batty in forum Classic Audi Forum
    Replies: 1
    Last Post: 21st August 2006, 21:30

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO

Garage Plus, Vendor Tools vBulletin Plugins by Drive Thru Online, Inc.

Content Relevant URLs by vBSEO