S3 PCP Offer Advice

[RedTurtle]

Hi All!

I've not posted much, but i have been lurking a lot!

So i'm getting ready to order an S3, i'm contacting various companies, some that do PCP directly some that don't. I am wondering if the following PCP deal is any good? i have been advised there is an option to do additional lump sum payments which will reduce the monthly payment & interest paid but will not affect the final lump sum payment should i decide to purchase at the end of the term.

Here is the PCP deal, its not the best discount 2.9k i have been offered a 4.4k discount, however the interest rate seems low, just wondering what you all think? should i go for it? or get Audi Finance with the the 4.4k discount?

Vehicle Details: Audi S3 5DR Sptbk 2.0 TFSI 300 Quattro S trc
P11D Value: £43390.02
Fitted with:
Qq1 Interior Light Package,
Non Smoking Pack,
Panoramic Glass Sunroof,
Reversible Mat,
Privacy Glass/Dark Tinted from B-pillar,
9vs Bang + Olufsen Sound System,
Pu7 Auto Dmmng Rr Vw Mirror+lght/Rain Pk,
6xK Door Mirrors-auto Dimming/Adj/Fld/Ht,
Ka2 Reversing Camera,
Pce Driver Assistance Package,
7w1 Audi Pre Sense Basic,
4x4 Rear Side Airbags,
5my 3d Design Black,
Wb4 Technology Pack+moble Tel prepn-high,
2h7 Audi Magnetic Ride,
Special Paint S3,
7he Extended Mono Pur Interior Finish,
Hill-hold Assist,
Px7 Led Headlights,
4zd Black Styling Package,
Pg3 Advanced Key

Period: 36 Months
Annual Mileage: 10000

Cash Price of Vehicle: 40401.91
Deposit: 12120
Amount of Credit: 28281.91
Charge for Credit: 3740.78
Total Amount Payable: 44142.69
Initial Payment: 621.29
35 Payments of: 496.29
Optional Final purchase: 14031.25
APR: 5.96%
Total Regular Payment: 496.29

 

[richardshoes]

I got my one through orangewheels. £5k deposit, £376 per month, 10K per year, 36months. Yours has more options, but is a lot more expensive.

 

[Steph67]

Hi All!

I've not posted much, but i have been lurking a lot!

So i'm getting ready to order an S3, i'm contacting various companies, some that do PCP directly some that don't. I am wondering if the following PCP deal is any good? i have been advised there is an option to do additional lump sum payments which will reduce the monthly payment & interest paid but will not affect the final lump sum payment should i decide to purchase at the end of the term.

Here is the PCP deal, its not the best discount 2.9k i have been offered a 4.4k discount, however the interest rate seems low, just wondering what you all think? should i go for it? or get Audi Finance with the the 4.4k discount?

The interest rate is really good (much better that Audi Solutions' current 7.1% on a new S3) but the guaranteed final value is ridiculously low for a 3 year old 8V S3 at 10K miles per annum. This a double edged sword, as it would mean that you'd likely have an awful lot of equity after 3 years, but it also means that your 'borrowed amount' is higher, hence your monthly repayments are higher. To give you an idea, my finance deal through Audi Solutions is over 4 years at 9K miles per annum, with a much lower spec S3 than yours at circa £35,000 (list price before discount) yet my final value after 4 years is over £16k, compared to yours at £14K after 3 years for a car with a list price of £43,300. If it was me, I'd be asking them to check the final value, which should be closer to £20K for a 3 year old S3 (final value I was quoted by AS for a 3 year deal for my spec was just under £20K). I'm assuming that you won't just be handing the car back after 3 years.

Hope this helps.

Cheers

 

[RedTurtle]

Thanks for your responses, i did push back apparently "Some will have a higher GFV & lower monthly payments, others have higher rentals, lower GFV." which doesn't mean a lot to me, i just want to know which finance deal will give me the cheapest car in the end, discount and payments included. I spoke to orange wheels and have managed to get a 4.7k discount from them, so £300 more than another company, which makes them around £900 better than the low APR offer.

I am going into Audi friday for a second test drive of an S3, whilst i am there i will get a quote on finance, as well as get more information about the "partial payments" mentioned on the Audi finance site, speaking with the company offering the low APR, apparently i can pay off lump sums to reduce my monthly payments and interest rate, but it will not affect the GFV, That may make them cheaper in the end.

 

[veeeight]

APR is relatively good, I think the GMFV could be higher, and the initial discount greater !

So try OrangeWheels, Drive the Deal, and Car WoW for quotes.

 

[S32B]

Mine comes in at:

Car & options- £31,945 before any discount & deposit 48 months with 8000 per year with a GFV of £15,770 via Audi finance @ 7%

I pushed them hard and got 10.33% off the cost of the car. On your spec you should be going for £39K

Edit* I got the best price via carwow from Coventry. Print the offer out and take it with you, then just play it cool and say that's the price I can get it for, if you can match it I'll sign up today. Once they know that you're 100% genuine and not just getting quotes in they will push it through.

On another note, try it over 48 months to bring the cost down, he told me that due to the car holding it's value well there is no way he'll let me stay in it for the full 48 months! He'll be calling me in 24-30 months to change it as I'll be in equity enough to change without the need of another deposit! I only put £1k down as well!!! Monthly payments are £120 less than yours.

 

[RedTurtle]

Thanks for the suggestions! i've spoken to orange wheels and gotten 4.7k off of the OTR price of 44345, they are just waiting for me to say go for it, i am attempting to time this so the car comes around mid April.

Will try the other sites mentioned, and report back!

 

[S32B]

10.59% is good saving, I was lucky that my local dealer who is 5-10 mins away all but matched the best price I got.

 

[klauster]

Try carwow to see what other discounts are available