C7 PCP

[vestax32]

I am thinking about financing a C7. I have seen a 14 plate with 6k on it for £64,000. Has sports pack. Those of you who have gone down the route of PCP, can you give me an idea of figures? I was thinking 10-15k deposit, is this too much? Should I be after dealer contribution? I don't totally understand PCP so advice much appreciated.

Cheers.

[doodlebug]

Used is a different kettle of fish to new. Give Oracle a call they'll give you an idea over the phone.

You're unlikely to get any contributions on a used car unless there's a specific campaign.

[vestax32]

Better to use oracle than audis in house PCP? Do you think it is not a good idea to PCP a used one?

[doodlebug]

Likely Oracle will be more competitive on used. Get quotes from both.

No issues in financing a used car.

[vestax32]

Yes I will. Audi haven't gotten back to me yet with figures. What are you guys paying monthly and what deposits did you put down? Trying to guage the figures I can expect!

So PCP is essentially paying for the cars depreciation?!

[doodlebug]

You need to compare with someone else who's bought used. The rates and residuals will be different.

[S4WON]

PCP is no better or worse than other forms of credit, there are loads of calculators out there on the internet, you just need to look. as someone said, Oracle Finance are "good" if you like that sort of thing, but putting a 60k car on finance aint gonna make you rich any time soon

[doodlebug]

PCP is no better or worse than other forms of credit, there are loads of calculators out there on the internet, you just need to look. as someone said, Oracle Finance are "good" if you like that sort of thing, but putting a 60k car on finance aint gonna make you rich any time soon

Nor is paying cash!

[HYFR]

VWFS rate often is very poor. Dealers will offer you likely 11.9% as a starter, which is ridonkulous.

Oracle are a broker and will find you a rate closer to 6/7% I would expect

Deposit and monthly payments are all just a game, it makes no difference unless you genuinely plan to run to term and hand it back

[vestax32]

Hyfr, so what you're saying is that you always hand it back sooner and swap for something newer etc. I'm starting to understand this PCP thing now. I have contacted oracle, and am waiting to hear back from Audi, so will see how it all pans out. Will be interesting as I have never dealt with the world of PCP before....

[Ian_C]

If you have a decent deposit coming out of your C6, then another option might be a private loan from your mortgage lender. Last time I looked, mine will do £25,000 at 3.6% with no early repayment charge. Other banks may do larger amounts.

Whilst it might be difficult to loan the whole £60k, if you were (for example) planning on a C7 RS6 funded half cash, half finance, this is definitely an option to explore.

(because its a private bank loan, the car will show as HPI clear, which makes things simpler to sell privately)

[vestax32]

Ian, I didn't even know that was something that mortgage lenders did. I suppose it's an easier process for the mortgage company to sort out a loan as they already have all your asset details at their fingertips. I will look into this also, cheers

[HYFR]

Also credit card 0% money transfers.

Someone with a decent credit rating could easily raise £60k of cash this way

[vestax32]

Got a rough set of figures for PCP back from Audi today. My C6 trade in (privately worth 26k), plus 4k deposit, then £655 per month for 4 years. By my calculations that's 61500k over the 4 years with f*ck all to show for it at the end? Am I missing something, or is that daylight robbery? If I bought the car for cash today I'd be able to sell it for at least 35k in 4 years?!

[Golfather]

Cash is king