opinions please?

Bugsy_27

Vorsprung Durch Technik
Today my a3 arrived at Audi Manchester and I took it out for a test drive and it was amazing! Afterwards we sat down to talk about the finace etc and I'm just wondering what you guys think of the price as I'm slightly having a re-think like I'm sure a few of you would of had with such a big comitment.

The Car:
Audi A3 S-LINE
2.0 tdi
07 REG
17,000 MILES
170BHP
LAVA GREY
BOSE SYTEM
HEATED SEATS ETC

The Finace:
£253 a month over 4 years
£6334 final payemt or i can take it back to them or any other dealer and put it towards another car and they pay my final payment.

So what dya think? sounds good? I'm happy with everything but was just a little unsure about final payment options,

Thanks Lee :icon_thumright:
 
I think as long as the retail price of the car is reasonable, and you can afford the finance, there should be nothing to worry about. However, 4 years is quite a long period - are you sure you will hold on to the car for that amount of time? Might cause problems if you want to change after two years with the outstanding finance still pending.
 

pns2007

Moonstone Grey
VCDS Map User
Its a buyers market. You don't say what the APR is on the finance or the price of the car, can you get it cheaper by arranging personal loan and then haggling the price of the car down by being a cash buyer. These PCP contracts do tend to be dearer than personal loans and you will also have a document fee to pay at the beginning and a document fee at the end which could total as much as £150. (No fees on personal loans). Do you have a mortgage which could be added to (interest at 3-4%).

I'm not asking for you to give me the details and I don't think anyone can give you specific advice, only you know your personal circumstances but consider the above.

It may even be "better" to buy a new one from stock. Cheaper finance, bigger discount, longer warrenty. From the figures you've given you will have paid £18500 and thats if you pay the balloon payment off at the end.

I'm in the fortunate position to have bought new and managed approx 10% off the 'on the road price' quoted by Audi.

Good luck with the car
 

Sem

Registered User
Are you putting a deposit down? What's the APR?
 

Ash B

Registered User
Hi Lee sounds like a nice car, same colour as my a3 now:arco: good choice lol...
Sounds like a good deal but as 'benw123' has said can you hold on to it for 4 years? When or if i do take finance out on my next car it will be a max of 3 years. As i know i will want to change my car. But if you can hold on to it for 4 years then go for it. And if the retail price on the car is decent. Go for it...Friend of mine has a 56 plate Yellow Seat Leon Stylance 1.9 140bhp think it was under 10,000 miles when he got it. He paying £380 for it. Retail price back in 2007 i believe was £16,550 looking at them now. You can get them for lower miles then his with i believe MK1 body kit on for under £10K. So your deal alot better then his

Ashley
 
Its a buyers market. You don't say what the APR is on the finance or the price of the car, can you get it cheaper by arranging personal loan and then haggling the price of the car down by being a cash buyer.
Cash buyers don't necessarily have an advantage, because dealers nearly always get some commission from finance companies for selling their packages. Therefore, it's possible dealers will do a better deal on a car knowing that they'll make up any difference (or more) from the finance commission.

I used to work for a company that supplied computer systems to the motor trade, including deal optimising software, and on certain finance packages the commission could be as much as the margin on the car - especially for deals over long terms and higher-than-normal rates.
 

pns2007

Moonstone Grey
VCDS Map User
benw123 - I did, although I take your point - when I worked out my deal i didn't make any reference of payment method and dealer thought I'd have their finance. When I said I was paying by cash they tried everything they could (including lowering the APR on the finance) to make it more appealing. It appears they want commission from this also). I had sourced the funds from elsewhere by then though.

A friend of mine bought a TT from the same garage and said he wanted 0% finance. After a lot of haggling they worked out the cost of the extra finance and gave him this in accessories.

I suppose its all about targets and how many cars they need to shift and when.

Lee - try holding off abit and get the dealer to chase you. You might get a better deal or there again you might lose the sale. But there's always another car waiting.
 

Lee_R

Registered User
I've never bought a car on finance so i dont know the ins and outs of doing it but i can give you some advice, there are plenty of A3's out there at the moment, very few are selling. Some private sellers are getting a bit desperate for cash so a personal loan + private sale would be my idea of the best deal!
 

Bugsy_27

Vorsprung Durch Technik
I have put a deposit down on the car of £100 and that was just to secure the car because I had to wait around 3 weeks for the car to arrive at the Manchester dealer.
If I did pay cash for the car then I'd be covering the huge £6334 final payment wouldnt i? Should I just give them a ring tomorrow and find out the cash price and work out the best loan for me?

Thanks for teh help guys
 

Bugsy_27

Vorsprung Durch Technik
I've never bought a car on finance so i dont know the ins and outs of doing it but i can give you some advice, there are plenty of A3's out there at the moment, very few are selling. Some private sellers are getting a bit desperate for cash so a personal loan + private sale would be my idea of the best deal!

Yeah that would be good but I have a corsa to part exchange
 

Ash B

Registered User
Lee i bought my car with cash. And i had my old Corsa to part exchange not sure what it called but they phoned around some local car dealers and i sold my corsa through audi who gave me £1,800 and sold it to another car dealer for a bit more i believe. So i paid my car off and also able to sell my old car aswell and have £1,800 for insurance and what ever else i wanted it for.

Ashley

Yeah that would be good but I have a corsa to part exchange
 

pns2007

Moonstone Grey
VCDS Map User
Its easy to give advice when it doesn't concern you but when you want something it has to be now - well thats my story anyway.

What do you think the Corsa is worth and have you tried to sell it to a local independant garage. You won't get loads for it but it might put you in a better bargaining position especially if you take Lee_R advice and go private. If you stay with the dealer can you arrange a different deal with no px.

Although you have put £100 deposit down you can still walk away (although you will likely loose it). Don't rush in yet - let the salesman sweat abit. If you can't haggle the price down go for some extras or free servicing etc.

Would you mind saying what the price of the car is and what you will be getting for the corsa (inc make model year etc). Its starting to look dearer with each bit of info you give.

I spent ages looking for deals with my car, with different finance etc and even went to two different dealers and got the one to beat the other! although this was the last step and I had to sign for it there and then
 

Bugsy_27

Vorsprung Durch Technik
Would you mind saying what the price of the car is and what you will be getting for the corsa (inc make model year etc). Its starting to look dearer with each bit of info you give.

VX Corsa sxi
05 reg
25,000 miles
1.2 twinport
Irmsher exhaust,spoiler and colour coded side skirts
MOT
1 service
1 scratch and front 2 tyres scuffed

there giving me £3500 for it

Audi A3: £16,000
Asset Protector: £595
Bodycare £399
RFL £145
(which I havent a clue what it is)

Total: £17,139

Deal or No Deal? lol
 

Iggu

Registered User
Is this Lancaster Audi on Bridgewater Way you're talking about ?
If so you will get excellent service from them but they are hell bent on getting you onto a finance deal for as much as possible. I offered to buy my car for cash from them but they offered to throw in the Bluetooth phone prep (a £300 option) if I took some of it out on a finance deal. The days of getting any discount for cash are long gone and you might actually get a better deal if you negotiate finance with them.

Having said that - £18,500 is a serious amount of cash for a second hand TDi. You could get a new style S3 still under warranty for that.
 

Lee_R

Registered User
RFL - Road Fund Licence = 12 months TAX!

Doesnt sound a good deal to me, whats the other crap Bodycare? Is that a cheap polish they add to gurantee your shine for 100 years? If so then its rubbish!

And whats asser protector? Guranteed future value I assume? If so then i'd be interested to know what that is, they are always stupidly low values and TDi A3's are always going to have the best residuals.

I'd scratch both them options, get them to discount the price or give you more PX whilst your at it! :)
 

Bugsy_27

Vorsprung Durch Technik
Yeah, thats all them options which i didnt pick they just apeared! lol I think I might give him a ring in the morning and ask whats the monthly payments without them extras and ask whats APR because I'm going to look into getting a better rate with a personal loan and see what they say or if they lower the price
 

pns2007

Moonstone Grey
VCDS Map User
Definately definately don't have the asset protector or the body care. It was finally offered to me for £500 for both and I stupidy took it.

check this thread out for the asset protector

http://audi-sport.net/vb/showthread.php?t=64482

Just worked it out for a car worth £16000 with a benefit (protection) of £7500 over 3 years it will cost you £108 saved you £487 already :)

and google 'lifeshine' or 'diamondbrite' for more info on paint protection especially on a second hand car. Learn by my mistake :no:
 

Sem

Registered User
Overpriced and not a very good finance deal IMO.

Have you had a quote on a brand new one but on their latest A3 finance deal (5.9% I think)?

With a good discount (11%) I think you would find the monthly payment over 3 years was not far off what they are quoting you on a used car over 4 years!
 

daveyjp

Registered User
I agree with Sem. I reckon you could be in a brand new Audi for the cost of the second hand one. My first A3 was brand new because I could get a much better deal than the one on the forecourt.

Configure a new one on their website and see what the difference actually is.
 

Bugsy_27

Vorsprung Durch Technik
I've just made one online, same model, 170bhp bose etc and its come back £22,000 and as soon as i drive it away its just guna loose value, so i duno what to do about getting a new one. I might scrap the asset protector and bodycare and see if they can lower the apr so it lowers the monthly payments, sound about right?
 

pns2007

Moonstone Grey
VCDS Map User
Just had a look at this as an example and is one of Audi special offer


Solutions (Personal Contract Plan)Audi A3 1.8 TFSI Black Edition 3-year, 10,000 mile per annum
Solutions example:

35 monthly payments of £269
Customer deposit £4,331.15
Dealer deposit contribution £1,000
On-the-road retail cash price £21,450
Amount of credit £16,118
Optional final payment £8,611
Total amount payable £23,417
Total amount payable by Customer £22,417.15
Acceptance fee £125*
Option to purchase fee £60**
Excess mileage 6.9 pence per mile

finance_offers.Par.0043.Image.gif




This is a year shorter than your deal. OK its not the same spec but looks good as a comparasion and the 1.8 engine is supposed to be good
 

Sem

Registered User
I've just made one online, same model, 170bhp bose etc and its come back £22,000 and as soon as i drive it away its just guna loose value, so i duno what to do about getting a new one. I might scrap the asset protector and bodycare and see if they can lower the apr so it lowers the monthly payments, sound about right?

I would take advantage of the VAT saving on a new car.
That price you see on the web is before you get your 11% discount from the dealer!
Yes you may lose money as soon as you drive it away but your monthly payments will still be better on a brand new car over a shorter term.
 

pns2007

Moonstone Grey
VCDS Map User
Whats a £16k, 18mnth old car with 17000 miles gonna be worth as soon as you drive that off of their forecourt.
:sign_omg:

its swings and roundabouts my friend .....
 

Iggu

Registered User
If you can get the total price down to under £16,000 I'd say yes.
Otherwise walk away.
 
benw123 - I did, although I take your point - when I worked out my deal i didn't make any reference of payment method and dealer thought I'd have their finance. When I said I was paying by cash they tried everything they could (including lowering the APR on the finance) to make it more appealing. It appears they want commission from this also). I had sourced the funds from elsewhere by then though.

A friend of mine bought a TT from the same garage and said he wanted 0% finance. After a lot of haggling they worked out the cost of the extra finance and gave him this in accessories.
Surprisingly, even 0% finance deals can sometimes attract commission for dealers, but as you say, regardless of how you pay for a car, there's always a way of making a deal.

pns2007 said:
I suppose its all about targets and how many cars they need to shift and when.

Lee - try holding off abit and get the dealer to chase you. You might get a better deal or there again you might lose the sale. But there's always another car waiting.
Absolutely right. The end of the month is the best time to go see a dealer, particularly if you can deal and deliver by the very last day of the month. This is the time when sales teams might find they're going to be short of their target, so will be even more helpful when haggling. Ironically however, I recall one of our former clients, a large car supermarket group, found January to be one of their busiest months.

Either way, a part exchange is another good haggling tool. I remember part exchanging my two year-old, 27,000 mile Ford Puma against a new Focus ST170, and by driving round to eight Ford dealers on one Saturday, I gained an extra £400 for the Puma simply by playing one off against the other.
 

Bugsy_27

Vorsprung Durch Technik
hmmm its a tough one because I really do love the car. What dya think I should get them down to and accept the car for?
 

Ash B

Registered User
I would try and get the price down. I put a deposit on my car twice before i bought it. Also got £3,000 off it but it only a 54 plate though.
With the price they want you could get a newer one but if you like the car that much (i liked my car alot lol) get the price down. Cars are not really selling right now so they probably quite excited that your interested in buying a car.

Ashley
 

Bugsy_27

Vorsprung Durch Technik
Comparing it to other 170bhp S-lines on autotrader etc it seems to be one of the lowest! I'll have to have a wrod with them in the morning and you you guys know how I got on, im deffinatly taking off the asset protector and bodycare so we'll see what that makes the monthly payments. sound about right?
 

Lee_R

Registered User
Have you considered a Scirocco TDI? Doubt one would cost more than the A3 and that will be the car to have in 2009! ;)
 

Ash B

Registered User
I would forget all the bodycare and asset protector all stuff you can get yourself. Have you tried searching on Audi and seeing if any other dealers have any going for a lower price? Yeah keep us all updated. Good luck
Ashley
 

phantom

On Boost
Deffo don't pay for.

Asset protector ( GAP )
Body Care
TAX
Tank of fuel

Bargain hard and get them thrown in as part of the deal!
 

Bugsy_27

Vorsprung Durch Technik
Right I spoke to audi this morning and havent taken off the asset protection and bodycare, they've given me an extra £100 towards my car and lowered the APR so that now my payments are £227.08 a month over 4 yrs but still with the £6,334 final payment which I dont really have to pay off.

Heres the new proposal they emailed me:

Vehicle A3 2.0 170BHP S Line
Period of Hire 48 Months
cash price £16,145
part exchange £3,600
balance of cash/credit £12,545
add charges (intrest) £4,462.36
balance £17,007.36
47 monthly rentals £227.08
final payment £6,334.60
acceptance fee £145
purchase fee £60
total amount payable £20,812.36
annual percentage rate (APR) 12.9%

Monthly Payments £227.08
 

daveyjp

Registered User
As mentioned the £17k car will lose thousands as soon as you drive it away!

Vauxhall site has a free trade in valuation tool. I suspect trade in on this will be less than £15k.

The asset protection and polish is a complete rip off. Tell them to get rid of it.

Whilst the final payment may not be payable you are paying interest on this amount for four years.
 

pns2007

Moonstone Grey
VCDS Map User
Hi Lee hope you didn't loose too much sleep over this last night.

I don't know what financial position you are in but I've just done a search on moneysupermarket.com and entered a loan amount of £12500 over 4 years and put that you were living with parents. Most loans came back between 7.9-8.2% (but obviously will be dependant on your circumstances). This gives a monthly amount of approx £305 a month and the car is yours at the end of the 4 years - no final payment.

You will not have to pay the acceptance fee and purchase fee totalling £205. Don't have the GAP and paint protector totalling £994 and tell them you want the tax thrown in.

Another thing you might want to take into consideration is that with a personal loan its yours! With a PCP it never will be and if you plan on doing any modifications to it, it will seriously affect the final payment fee in 4 years. They inspect the car at the end of the PCP and anything other than normal wear and tear will be deducted from that value - so you may still owe them should you wish to hand the car back!! Also check the mileage fees should you go over - can work out costly.

Your obviously struck on the car so go and tell them you can get finance at 7.9% APR with no fees attached and see if they can match it. Personnally I would do the personal loan route and due to the money involved take out GAP insurance from the link I posted earlier.

Cheers

Neil

(Edit - Total amount payable is approx £14500 as apposed to the £20K+ you quote).

But I'm no financial advisor
 

Bugsy_27

Vorsprung Durch Technik
Thanks for that Neil, really appreciate it. If they can match 7.9% APR do you think its worth it? Looking at it I know the personal loan would be a better way but with being a student and working part time I couldnt afford £305 a month! Thanks
 

pns2007

Moonstone Grey
VCDS Map User
Thats up to you mate. If they match it or come close then its steps in the right direction. Just look at the total amounts payable over the whole term, in my book thats just as important as the monthly payment.

With my fatherly hat on :drag:being a student and working part time - I'd go for a slightly older and cheaper car. You've got to run it and most of all enjoy those student years.

Sorry for being so boring .....

However you could always take the loan over 5 years (reducing the monthly fee by £50. I'm not suggesting this by any means but it still appears cheaper overall (Total to be paid back is approx £15100 as apposed to £20K+ you quote).

Again without knowing your personal circumstances - you might not get the loan. A 5 year loan will make it a 6 1/2 year old car by the time you've paid for it and £250 now doesn't seem like a lot for a newish car but in 4 years time it will be alot for an old car!!

Anyway I've said enough now, good luck Lee and what ever you do enjoy!
 

DiscoPanda

Registered User
Lee from the way you talk, I don't think you really want this. IMO, if you're having to think this much about it, you can't afford it. Get an older car, enjoy your student years (even save some cash as you go) and in a couple of years get the car you want.
 

Bugsy_27

Vorsprung Durch Technik
Thanks guys, i really do want the car and i only have 4 months left at uni so I'm not bothered about that. I'm guna give them a ring tomorrow and see if they can get the apr to 7.9% Finger crossed eh? lol
 

Ash B

Registered User
Good luck lee. What you going to do after uni? go full time?
I was working part time for a year after i finished my two year course at college.
Only just gone full time a month ago lol...Not that bad but i could do with a pay rise ha. Good luck let us know how it goes
 

daveyjp

Registered User
You are entering into a four year loan, but your circumstances will change in 4 months time.

What will be your circumstances be in 4 months? 1 year? 2 years? If you can't say 'broadly similar to how they are now' be wary of entering into a long term PCP commitment.

As soon as you drive away you may owe a lot more than the car is worth. When your circumstances change can your car ownership change too?

My second car was on a five year loan - it was bought on the spur of the moment, at a time when my life was in a state of flux and I couldn't really afford it and to make matters worse it was a car I didn't really like, but it was shiny and looked good, unlike the shed which was outside having just failed its MOT!

After 2 years of higher than expected mileage (which wasn't expected when I bought it - unexpected change in my circumstances a few months after getting the car), the thing was almost dead and I could see major expense coming. As it was on HP I had a get out of handing it back after half the payments had been made and I counted off every day until that magic date arrived.

So my advice is go for the car if you want it, but try and buy it rather than rent the car (which is all PCP is if you don't buy it). Getting out of a PCP isn't cheap.
 
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