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New car finance

Discussion in 'A3/S3/Sportback (8P Chassis)' started by as123, Aug 29, 2006.

  1. as123
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    as123 New Member

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    [Aug 29, 2006]
    Hi there,

    Looking at getting a new A3 2.0TDI Sport ordered in the next week or so, just wandering if anybody can recommened any places to go for good finance deals?

    I'll be looking at doing a PCP, and the best ive found so far is about 7.2%APR.

    Any of you guys got any good deals recently?

    Dont know exactly what audi's rate is cos i havent been in to chat to the finance bloke at the local dealers yet in detail yet, but i think i saw it was about 9-10%apr. Are they generally flexible on that? are they likely to match deals you find on the net?

    Fiananlly, anybody know roughly what the lead times are currently for new a3's? It wouldnt be a standard spec one!

    Cheers, Andy
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  3. Amchlolor
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    Amchlolor Active Member

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    [Aug 29, 2006]
    I've taken out two motoring loans lately.
    One straightforward loan from The Alliance and Leicester,trading as 'Moneybank Bank',at 5.6% APR and one 'car buyer plan' (where some of the loan is deferred until the end,making the monthly repayments lower) at 6.2% APR.
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  4. marriedblonde
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    marriedblonde Moderator

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    [Aug 29, 2006]
    Who was the car buyer plan from Bowfer?

    J.
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  5. Amchlolor
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    Amchlolor Active Member

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    [Aug 29, 2006]
    Marks and Spencer finance MB.
    Alliance and Leicester used to do it,but have stopped it.
    M+S are the only ones I could find still doing it.
    I've always found the 'deferred payment' thing very handy and I hope to hell they keep it going.
    It's the only way we can afford to get the wife a new car every few years.
    When it comes to when the deferred payment time,we just take account of the fact we are due the sum (say £3000) when we trade it in/sell it.
    The deferred payment is always less than we actually get for the car,so we're never 'stung'.
    Okay,it means we never,ever,get to the point where the car is ours,but we accept that.
    we accept we will always be paying for a car,so it works fine for us.
    #4
  6. marriedblonde
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    marriedblonde Moderator

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    [Aug 29, 2006]
    Cheers for that, I bought my A3 on the Alliance and Leicester scheme but when I came to replace my wifes car I couldn't find anyone offering - looks like I didn't look hard enough. Same reasons why tie up all your money when there is no need!

    J.
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  7. Amchlolor
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    Amchlolor Active Member

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    [Aug 29, 2006]
    You could always take an M+S car buyer loan and pay off the conventional one you have ?
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  8. benw123
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    benw123 Moderator

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    [Aug 29, 2006]
    Nothing wrong with that at all. Why would you want to buy something outright that is one of the fastest depreciating purchases you can make?

    Having said that (!), our Sportback was half cash, half Alliance & Leicester loan (carried over from a previous car purchase), although it is a straightforward personal loan. Can't remember the exact rate but it was around 5-6% APR.

    As for as123's original post, I'm not aware of any low APR deals Audi are doing, but it is definitely worth speaking to one of their business managers on site. If you're able to put down a large cash deposit, they may be more flexible on the basic rate and you could get a good deal. And remember, dealerships earn incredible commissions from finance deals, so if you do get a quote, haggle hard!
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  9. Eeef
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    Eeef Lord of War

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    [Aug 29, 2006]
    Speak to Morgan Highfield & Land http://www.prestige-car-leasing.co.uk/

    I've never known anyone to beat them yet.
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  10. marriedblonde
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    marriedblonde Moderator

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    [Aug 29, 2006]
    I managed to get cheap finance through the dealer in the end. But... I am contemplating changing mine over at christmas...
    #9
  11. dickys3
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    dickys3 Moderator Staff Member Moderator

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    [Aug 29, 2006]
    I was going down the M&S Car buyer plan and had the offer ready to sign in the post. I then spoke to my audi dealer and he matched it! As I didn't have to wait for the money to transfer I went with Audi Finance. A mate of mine did the same too.

    I would get a quote from M&S and then show it to the dealer to see if they can do the same.
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  12. marriedblonde
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    marriedblonde Moderator

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    [Aug 29, 2006]
    Oops meant to add something along those lines in my last post!

    BMW did the same when I bought my mini, in the end I went with the Alliance and Leicester. My reasoning being they gave me a quote at 9.something% and then slached it to 5.9!

    Most of the dealers will price match on finance. NEver take the first set of figures they give you.

    J.
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  13. as123
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    as123 New Member

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    [Aug 30, 2006]
    Cheers for that guys, i'll look into some of those options!

    The M+S deal looks good, but i was wanting to pay lower monthly payments than they offer so I might go with a PCP scheme. www.freewaycars.co.uk is about the best ive seen so far, but i'll see what morgan highfield can do!
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  14. Amchlolor
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    Amchlolor Active Member

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    [Aug 30, 2006]
    M+S Car buyer plan defers some of the payment,the dealer will not,so you're not comparing like for like.
    M+S charge a slightly higher APR (around 6.2%/6.4%) for their car buyer plan than you would get for a 'straight' loan,so using their APR as a negotiating tool is daft.

    If you're going to show the dealer an APR to beat,you should be showing him the likes of Moneyback bank (Alliance and Leicester) at something like 5.6%.
    #13
  15. marriedblonde
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    marriedblonde Moderator

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    [Aug 30, 2006]
    Are you looking at the right product from M&S? The offered a ballon scheme so you have lower monthly's.

    J.
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  16. gizze
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    gizze Member

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    [Aug 30, 2006]
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