Audi sound vs B&O

[davc]

The advantage of a personal loan to me was owning the car from the start, so any job loss etc I'm free to sell the car, pay off the loan & keep the remaining money to buy an old banger to keep me mobile (I don't like the idea of just handing a car back that I've paid a large chunk for & not having anything to show for it, but that's just a personal viewpoint). Lower monthly costs by financing elsewhere 3.5% rather than the (at that time) 11% apr on Audi pcp. No mileage restrictions (I exceed 25k miles annually). I'd suggest the rather boring route of sitting down once you have all the figures for the various options PCP, lease & personal loan etc & work out which looks the most suitable option for your situation.

I have to agree with Rich on this one, a personal loan definitely gives you more options and the important thing is you have something to show for your money and do what you want with it. Plus why pay 6-7% APR on a PCP when you can get a personal loan 50% cheaper?

I don't agree with putting large deposits down on cars either, so for me, if I was financing a car through PCP (which I would never do anyway) I would put the bare minimum down and take it from there. It's a depreciating asset after all.

Putting larger deposits down on appreciating assets like property makes sense financially especially as you will be in it for the long haul and the larger deposit gets you better mortgage rates which can save you thousands over the course of 25 years.

 

[Jassyo06]

They were quite happy to part ex my 09 plate Focus TDCI when I bought my A3. In the end though I sold it to my brother.

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Yeah that made it easier, no hassle then...l was offered £14000 for my car but sold it to Evans Halshaw for £17000....who dares wins

 

[Jassyo06]

I have to agree with Rich on this one, a personal loan definitely gives you more options and the important thing is you have something to show for your money and do what you want with it. Plus why pay 6-7% APR on a PCP when you can get a personal loan 50% cheaper?

I don't agree with putting large deposits down on cars either, so for me, if I was financing a car through PCP (which I would never do anyway) I would put the bare minimum down and take it from there. It's a depreciating asset after all.

Putting larger deposits down on appreciating assets like property makes sense financially especially as you will be in it for the long haul and the larger deposit gets you better mortgage rates which can save you thousands over the course of 25 years.

Big Deposit all the time.......l like to sleep at night...then again...its all model dependant and also what options you choose...probably could finance two 3 door manual S3's with one £10k deposit on a uber specc S3 Saloon....just split it

 

[Flying Scotsman]

To be honest the PCP deals you get in the UK are pretty good but high interest and all the excess charges that apply if you are over mileage etc. can be daunting.
If you can afford it and this is the key as a lot can not. I personally would buy the vehicle with a large deposit and finance it at current market rates in Canada between 0.9% to 3.9% from the manufacturer's financing company and keep the car for about 4 years or possibly longer/shorter
Yes, in the first two years the car takes a big hit on depreciation and the smart buyer will buy a demo or 1-2 year old vehicle, but I am not smart, I like virgins that is new cars that nobody has thrown up in, abused, etc. Therefore my deposit covers the known depreciation and more, if so desired. My payments are very liveable and not a strain on other endeavours that I may wish to do, or a worry, as Jassy eluded to at night.
These are just my thoughts, but you do what ever you feel comfortable with and there is no right or wrong way, just your comfort zone. A car is always going to be an expense and will depreciate in value for all but highly desirable used exotic cars and even that can be a gamble.

 

[Jassyo06]

To be honest the PCP deals you get in the UK are pretty good but high interest and all the excess charges that apply if you are over mileage etc. can be daunting.
If you can afford it and this is the key as a lot can not. I personally would buy the vehicle with a large deposit and finance it at current market rates in Canada between 0.9% to 3.9% from the manufacturer's financing company and keep the car for about 4 years or possibly longer/shorter
Yes, in the first two years the car takes a big hit on depreciation and the smart buyer will buy a demo or 1-2 year old vehicle, but I am not smart, I like virgins that is new cars that nobody has thrown up in, abused, etc. Therefore my deposit covers the known depreciation and more, if so desired. My payments are very liveable and not a strain on other endeavours that I may wish to do, or a worry, as Jassy eluded to at night.
These are just my thoughts, but you do what ever you feel comfortable with and there is no right or wrong way, just your comfort zone. A car is always going to be an expense and will depreciate in value for all but highly desirable used exotic cars and even that can be a gamble.

Mad ex patriot lol my car is my only expense really... well l do have a penchant for high end home cinema kit and there's a few items in the pipeline, but l will wait til the price is right just like l will with my next car, as l am going to keep my car until next summer at least

 

[pburv]

Mad ex patriot lol my car is my only expense really... well l do have a penchant for high end home cinema kit and there's a few items in the pipeline, but l will wait til the price is right just like l will with my next car, as l am going to keep my car until next summer at least

Loving the look of your lounge jassy..

 

[Joe4842]

Big Deposit all the time.......l like to sleep at night...then again...its all model dependant and also what options you choose...probably could finance two 3 door manual S3's with one £10k deposit on a uber specc S3 Saloon....just split it

Going to the dealers on sunday, gonna be strong footed, just explain my situation how i have a fully paid for car to trade in as well as a large cash deposit, say i want a test drive in an S3, and if we are unable to do this im afraid we cant procceed any further, after all im the one with the money, he should be doing as i want in order to get the sale no?

Also any spec you would say is kind of needed? Im thinking daytona grey at the moment colour wise....

 

[Flying Scotsman]

Do not be such a wimp ......go for Ara Blue or even Vegas Yellow and take a walk on the wild side

 

[Gordo77]

Going to the dealers on sunday, gonna be strong footed, just explain my situation how i have a fully paid for car to trade in as well as a large cash deposit, say i want a test drive in an S3, and if we are unable to do this im afraid we cant procceed any further, after all im the one with the money, he should be doing as i want in order to get the sale no?

Also any spec you would say is kind of needed? Im thinking daytona grey at the moment colour wise....

Sounds like you're in a strong position to start with financially... and telling them that should hopefully get the ball rolling and they'll take you seriously. Good luck!