I needed a bigger car for my growing family. Thinking either the new Q3 which is more spacious than the old one, or a Q5. I can pay a £500 deposit and drive about 18k mile per year. What’s the likely monthly payment for a Q3 and Q5 on 4 year PCP? The lowest I can realistically get them down to.
You'd be better off buying low mileage used - and dodging the initial depreciation bullet, 18k a year absolutely crushes the residual value - in 4 years the car will have 72,000 miles on it. Let's say you bought a car for £35k with a £500 deposit - your monthly payment would be say £830 - over the 4 years you'd pay £17k for the use of the car.
Have a play with the CarWow PCP calculator...https://www.carwow.co.uk/pcp-calculator
Have a play with the CarWow PCP calculator...https://www.carwow.co.uk/pcp-calculator
As above!
With a small deposit and what are very high miles per year you will be facing hefty payments on a pcp.
I'm guessing you have a Q3 now? If so the new Q3 isn't going to be massively bigger compared to a Q5 either.
I'd be looking at a used Q5 or VW Tuareg as you'll have more options to finance it either on a lower rate pcp (if you push the dealer) or a longer term straight hp deal where you can get interest rates around 3% from the banks.
There are some really nicely spec'd cars out there if you do your homework that someone else has taken the hit on!
With a small deposit and what are very high miles per year you will be facing hefty payments on a pcp.
I'm guessing you have a Q3 now? If so the new Q3 isn't going to be massively bigger compared to a Q5 either.
I'd be looking at a used Q5 or VW Tuareg as you'll have more options to finance it either on a lower rate pcp (if you push the dealer) or a longer term straight hp deal where you can get interest rates around 3% from the banks.
There are some really nicely spec'd cars out there if you do your homework that someone else has taken the hit on!
I have never known a pcp rate on a used car be lower than on anew car - cartainly with BMW where new car rates are often supported by the manufacturer at 4% or less and used car rates are quoted at over 10% but you might haggle it down to 7 or 8%.
If you are looking for space at a price, I would be looking at Audi’s sister brands - the 7 seat Tiguan is a great car for the money, or there are Skoda or Seat equivalents.
Have you considered lease? Often some bargains to be had on the specialist leasing sites if you time it right. I know a couple of guys who are leasing Tiguas with 1.5 engine R Line spec for 260 a month with a deposit of a couple of grand...
I never said you could get a lower pcp rate on a used car rather than new, however you can get it nearer 6 from a dealer which is nearer what a new car pcp would be. I was offered it twice from different dealers last time I bought used.
The point is why go new and have to fund all that extra depreciation and the initial loss on options, just for buying new. It will bump up the payments especially with a low deposit
I'd rather buy approved used and extend the warranty after 12 months
Sent from my SM-N960F using Tapatalk
The point is why go new and have to fund all that extra depreciation and the initial loss on options, just for buying new. It will bump up the payments especially with a low deposit
I'd rather buy approved used and extend the warranty after 12 months
Sent from my SM-N960F using Tapatalk
Private leasing = Private Contract Hire. Nationwide Vehicle Contracts is one such company - easy to use site, though shopping around one can beat the prices. https://www.nationwidevehiclecontra...ationwide vehicle contracts&utm_content=Brand
Sorry I misinterpreted "lower rate pcp" as "lower than new" as you were comparing used to new.
Agreed used is likely to be cheaper, and extend the warranty. But used and not an Audi will be cheaper still. Where do you draw the line at going cheaper but still being happy.
Stonking deals on run out GLC models if you can find a dealer with a pre reg or showroom model. Daughter has a 220 diesel Urban edition which does all she needs of it (with a toddler and another on the way).
Personally, if its about space I would forego the SUV and look for a lightly used estate like a Passat or Skoda Superb
agree, or other estates...mondeo, A6. Also agree that 18k p/a is going to be serious monthly cost and depreciation, and assuming no access to personal loan, cash etc, would probably find a cheap lease deal of one of the above run out models
Haha......things have a habit of going off on a tangent around here!
Starting point for the OP is to take a trip down to the dealers and ask the question, then we can discuss the alternatives lol
OP here. Yes, I currently own the old Q3.
I have checked on Audi’s website. The following all involve £500 deposit and 20k miles per annum:
Q5 40 TDI (S-Line) - £607 per month
Q3 35 TDI s-tronic (S-Line) - £566 per month
Q3 35 TFSI manual (Sport) - £476 per month
significantly more than I pay now, but not as pessimistic as some of the figures mentioned above, and all pre-haggling too. My wife won’t be happy in a pre-owned car. My heart is set on an Audi Q5 or new Q3. I would also consider a 320d touring, but suspect it would be very expensive.
I have checked on Audi’s website. The following all involve £500 deposit and 20k miles per annum:
Q5 40 TDI (S-Line) - £607 per month
Q3 35 TDI s-tronic (S-Line) - £566 per month
Q3 35 TFSI manual (Sport) - £476 per month
significantly more than I pay now, but not as pessimistic as some of the figures mentioned above, and all pre-haggling too. My wife won’t be happy in a pre-owned car. My heart is set on an Audi Q5 or new Q3. I would also consider a 320d touring, but suspect it would be very expensive.
I imagine a 320d Touring would be reasonable - although the touring is very new model so discounts aren’t great yet. Drive the Deal showing significant discount on stock (pre facelift) Q5s if you can act quickly.
Son in law works for a large dealer group - I think yesterday would have seen a fair volume of pre reg vehicles so get in there looking for one of those!
I reckon you should get 20% off a Q5 (pre facelift) - maybe 30% if pre reg....
Thank you, I would love to strike whilst the iron is hot and get a good deal on an outgoing Q5 before they give it the touchscreen etc. But I’m in about £2.5k negative equity on my existing Q3. I’m 26 months into a 48 month PCP on it.
Whilst I am sure you can strike a deal on a pre reg, with £2.5k neg equity those numbers you list above will be way off, as either you need to settle the difference or build into new deal. You may be better off trying to sell the Q3 privately to claw back some of the neg, but a tough one.
Good luck
I couldn’t be bothered to sell it privately. I’ll just hand it back after 4 years. But before I do I have to get a big scratch and two body dings fixed first. Should also take out the after market window tinting.
Fair enough, and the only way to get out of the car without losing. A colleague wanted to change their 3 year old Q3 for a new one in March, but WAY too much negative equity so they are going to stick it out and hand back next year
Dont think you will be changing anytime soon, your VT point is about 10 to 14 months away depending on your deposit (not that I believe that should be a way out but it seems to be popular with BMW drivers...)
I'd say that you have plenty of time to look, the negative equity can always be lost in a deal if you want to swap but it doesnt help the numbers one bit....
I'd say that you have plenty of time to look, the negative equity can always be lost in a deal if you want to swap but it doesnt help the numbers one bit....
Maybe you should have included that in your original post as it's quite relevant to your options and puts a different spin on things unfortunately.
I would say in your situation you would really need to sit tight for a while or try and sell it private which is difficult while under finance.
Negative equity doesn't go away if you trade it, it just gets fudged into the figures.
To make matters EVEN WORSE, there is a big scratch on the nearside front passenger door, and two dents on the nearside rear passenger door. Done maliciously/negligently by someone when vehicle parked - not my fault. I also have had after market rear window tinting done.
Tinting not an issue if P/X’ing and scratches and dents just reduce value a bit, but from what I have heard can be stricter when VT’ing, but again depends who collects
The hardest part will be keeping under the mileage limit after moving house and job.
If it was me, I would personally get out of it sooner rather than later getting a car that fits needs and budget, but that is the tricky part. Going over the mileage limit not the costliest thing but does depend by how much.
My mates wife went over on a lease with mileage, and had to pay for service too as I’m contract, cost north of £2k!
Feel for you. It's a really naff feeling having a car on the drive that you have to shell out for each month and you no longer like with the added burden of negative equity.
Re the wife and the pre-owned car.....explain the depreciation realities and had you not bought a new vehicle with that massive initial depreciation hit at the beginning then you'd be in a stronger position now, most likely not wrestling with the negative equity challenge. Some people think having a new vehicle with an age-related number plate is a badge of prestige - something that proves status. Personally speaking, even with new cars I've always put a personal plate (mine cost me £250 from DVLA) on my vehicles new or used, as for me, its distasteful to believe the plate date is important - plus it attracts the attentions of the jealous and vindictive.
Good point. It’s not about what people think. I have a cool private plate. I doubt the untrained eye would think of a 2017 Q3 as old hat. I really just want a powerful Diesel engine and an awesome virtual cockpit, that’s what this is really about. I also don’t like paying for something that I don’t want anymore.
That is always the dilemma/choice, do you pay x amount over x months for something you don’t really want, or cut losses and get out, but aware you will pay more. I know what I would do, but personal to everyone.
On the status comment about a new car, not at all a consideration for me, more the fact I get bored and want something with a decent warranty and not ragged by someone else. My only vice so don’t give a **** on depreciation as I am prepared to spent a certain amount a month and always put down a decent deposit that most times I get out and take to next car.
Exactly how I see it: How much do I want to blow on a car each month? The S3 and A5 have both been £1k down and under £400 per month. If at the end there is equity fine, if not and I have to do the same again also fine. For me I just see it as I don't have to worry about anything going BANG! and getting a big unexpected bill
Haha, to true, but as we all know (well some of us) Audi’s aren’t be all and end all
Got a really nice BMW you might like in a few years, a bit faster, better round corners and more tech than your current car... and realexhausts oneach side which Audi and Mercedes seem not to like any more...
I/we just don't get PCP, we've always used:
When we have it we spend it on what we want and when we don't have it, well, we don't spend it.
PLUS the ongoing choices post purchase - rather than PCP - remain 100% in our control i.e, I/we can sell it on when 'we' want
As with the our recent ***fabulous*** 2016 AUDI SQ5 purchase
: I/we decided to 'go-for-one' on the Sunday afternoon; found 'it' on the Sunday afternoon; went to 'look' on the Tuesday, and within 15-minutes of first sight
PS: not a 2017, 18, or 19 petrol and/or diesel SQ5 mind neither of which excited or provided an attractive place where either of us would like to sit and drive on any journey; that in a nutshell goes for a few other cars, too...
PCP I think is for them that want others to think they have
but don't and if you engage in PCP I doubt you ever will...
That said, enjoy, do and purchase what suits you best...
When we have it we spend it on what we want and when we don't have it, well, we don't spend it.
PLUS the ongoing choices post purchase - rather than PCP - remain 100% in our control i.e, I/we can sell it on when 'we' want
As with the our recent ***fabulous*** 2016 AUDI SQ5 purchase
: I/we decided to 'go-for-one' on the Sunday afternoon; found 'it' on the Sunday afternoon; went to 'look' on the Tuesday, and within 15-minutes of first sight
PS: not a 2017, 18, or 19 petrol and/or diesel SQ5 mind neither of which excited or provided an attractive place where either of us would like to sit and drive on any journey; that in a nutshell goes for a few other cars, too...
PCP I think is for them that want others to think they have
That said, enjoy, do and purchase what suits you best...
Last edited:
I/we just don't get PCP, we've always used:
When we have it we spend it on what we want and when we don't have it, well, we don't spend it.
PLUS the ongoing choices post purchase - rather than PCP - remain 100% in our control i.e, I/we can sell it on when 'we' want
As with the our recent ***fabulous*** 2016 AUDI SQ5 purchase
PS: not a 2017, 18, or 19 petrol and/or diesel SQ5 mind neither of which excited or provided an attractive place where either of us would like to sit and drive on any journey; that in a nutshell goes for a few other cars, too...
PCP I think is for them that want others to think they havebut don't and if you engage in PCP I doubt you ever will...
That said, enjoy, do and purchase what suits you best...
Go on, I will bite...
I was taught a long time ago to invest in appreciating assets and rent depreciating assets. I think cars depreciate so not a great place for your hard earned...
Also, a lot of people get paid a car allowance, monthly income fits better with monthly outgoing...
Oh, yeah, and are mortgages for those with no money who want to pretend they have? After all, I have bought all houses with a mortgage and one or two of them cost less than my car..
My Mini is paid for, but I fund my bmw.... my only requirement is I stick as much each month into my stocks and shares ISA as I do into paying for my car. It means I always cover the depreciation twice...
Oh yeah, and I am still working so no 25% tax free lump sum for me yet.....
