Help on PCP Finance Reccomendations

[richardofthesun]

Any info appreciated on best deals for PCP. Based on 3 yrs 10k/ yr. Put £2.5 k down and need to finanace £54k Expected Dec delivery for Avant.

[PaulL]

Richard

PM sent.

Paul

[Merlot]

This topic got a bit heated on Tyresmoke recently.

Anyone got any figures to share?

Thanks

[ashleyadam]

Only reason got heated I think the brokers on the site where not happy with information being passed out freely. I think there is a few threads with some good info.

[PaulL]

A competitive deal for an RS4 would be 6.45% APR with 4k deposit, £50000 financed over 5 years with a deferred amount of £30000, giving monthly payments of £550 per month.

[kam100]

There was a good thread on here, until it got heated on here as well!!

Although its good to share info etc, finance is a tricky thing, APR rates available to one person might not be to another, and with them on the rise nowadays, difficult to replicate deals over a prolonged space of time.. i would approach Audi and get a quote off them, as a standard crappy figure, and then shop around to beat it..

If you're going PCP route, yeah the balloon will be agreed and guaranteed but APR will be high, and balloon very conservative.. but hey if you get a car allowance why not.. but if its private money, definitely better routes to go, if you like the majority feel the RS4 figures will fall around book value over time, ask around am sure someone will beable to advise you... and share their info..

[Merlot]

What sort of PCH deals are people getting over three years? And, I presume that you can ignore the final payment and walk away?

[david7m]

What sort of PCH deals are people getting over three years? And, I presume that you can ignore the final payment and walk away?

Unless you have been given a crap balloon payment (higher than market rate at time of sale), then yes, you can sell and pay balloon - job done

Just means you are back to square one, no deposit or car This is probably how people get tied into constantly changing their cars when balloon payment comes along.....

Dave

[Gareth]

Any info appreciated on best deals for PCP. Based on 3 yrs 10k/ yr. Put £2.5 k down and need to finanace £54k Expected Dec delivery for Avant.

Hi Richard

Any reason why you asked about PCP specifically ? Reason I ask is that, generally speaking, they are not the most efficient way to fund a car purchase.

Would you be looking to own the car at the end of the agreement, or walk away, or would you even run the full length of the agreement with the RS4 you are buying ? Answers to those questions would drive the best route to head for with your funding.

Hope that helps a little.

Gareth.

[Gareth]

What sort of PCH deals are people getting over three years? And, I presume that you can ignore the final payment and walk away?

Hi Merlot

Do you mean PCP, Personal/Business Contract Hire, Hire Purchase or Lease purchase here ??

[Gareth]

A competitive deal for an RS4 would be 6.45% APR with 4k deposit, £50000 financed over 5 years with a deferred amount of £30000, giving monthly payments of £550 per month.

Hi Paul,

Can I ask where or how you got that "deferred amount of £30,000" (after 5 years) from please ?

Thanks

[PaulL]

Hey Gareth

The figs I have quoted are just about the cheapest way to finance an RS4 over the short term. ie 1 - 2 years. It does not work out cost effective over the whole term. But, by taking it to 5 years and deferring a large amount the monthly payments remain low.

Also, by not putting in a massive deposit, I am not sinking loads of my own cash into the car.

The deferred amount is not a guarranteed future value though. Its simply the most the banks will defer on an RS4 at the moment. Therefore, if the car is worth less when you sell than the outstanding finance, you will have to make up the shortfall.

The interest is calculated daily and therefore, it is the perfect finance package for me as I change my car around once a year. Nothing is front loaded and so I can sell the car and settle at any time without penalty.

In my opinion, if you are changing your car fairly regularly for high end cars that are projected to hold their value well, its the best deal at the moment. Obviously, the deferred amount will vary from model to model though. The interest rate also fluctuates with the base rate - currently my APR is 6.75%.

Hope this helps

Cheers

[kam100]

Any info appreciated on best deals for PCP. Based on 3 yrs 10k/ yr. Put £2.5 k down and need to finanace £54k Expected Dec delivery for Avant.

Hi Richard

Any reason why you asked about PCP specifically ? Reason I ask is that, generally speaking, they are not the most efficient way to fund a car purchase.

Would you be looking to own the car at the end of the agreement, or walk away, or would you even run the full length of the agreement with the RS4 you are buying ? Answers to those questions would drive the best route to head for with your funding.

Hope that helps a little.

Gareth.

Yeah would agree, APR rates are higher on these agreements, although having a guaranteed balloon may suit some people's perspective on things and plan for their cars.. Its too stringent and fixed for most, i wouldn't personally go for one of these either.. but if it floats your boat..

Oh and Gareth, me and PaulL bought our RS4's together from Sutton Audi, he bought my brothers RS4 when he decided to take an S4 instead.. you must have thought this plan looked familiar!?

[Merlot]

What sort of PCH deals are people getting over three years? And, I presume that you can ignore the final payment and walk away?

Hi Merlot

Do you mean PCP, Personal/Business Contract Hire, Hire Purchase or Lease purchase here ??

Not sure! I usually purchase my cars for cash and don't keep some of them for long. I saw an advert from BMW for 23 month contract hire for a Z4M Convertible with approx £2.7k down and then £499pm incl VAT. I thought that this looked good value and offered the ability to walk away after the term - you wouldn't believe the rubbish I've heard when I've tried to px top end motors!

[Gareth]

What sort of PCH deals are people getting over three years? And, I presume that you can ignore the final payment and walk away?

Hi Merlot

Do you mean PCP, Personal/Business Contract Hire, Hire Purchase or Lease purchase here ??

Not sure! I usually purchase my cars for cash and don't keep some of them for long. I saw an advert from BMW for 23 month contract hire for a Z4M Convertible with approx £2.7k down and then £499pm incl VAT. I thought that this looked good value and offered the ability to walk away after the term - you wouldn't believe the rubbish I've heard when I've tried to px top end motors!

That is a good deal. It's clearly one that is heavily subsidised by BMW FS on what is a very slow selling, "problem" car in the current market (i.e. it's sales have flopped and they can't shift them !!).....but if that car was for you then it's a bloody good way to run it for 2 years.