Finance?

[R33]

Hi All,

I'm considering moving from the C6 to a C7 over the next few months and I was curious to see how low any of you had got your monthly finance payments? I can afford the car but my wife is obsessed with just paying for things and not financing them so I'd want to get the payments as low as possible. I could put down a £10-15k deposit but what's the best way to get your monthly payments down as low as possible and what companies do you chaps use?

Thanks in advance

[frank]

Shop around mate, Ive always found a broker to be the best purely because they have a pick of a number of different lenders under their hat.

Ive always used one guy for commercial and private...never steers us in the wrong direction.

Unfortunately hes on holiday till tuesday but if you want his number PM me.

For cheap payments obviously put down as much as you can and stretch the borrowing over a slightly longer term. You will pay more interest in the long run but the short term repayments will be more manageable.

[Leo-RS]

Quite a few points to take note of...

Audi will be your best bet as they offer 4.8% APR on their PCP deals.
What is the car to be used for? Weekend toy, the daily runner or something inbetween? This will then allow you to set the lowest mileage term for your needs which will help on the 3yr residual value, the lower the mileage, the lower the payments. If it's a weekend car, you'll more than likely get away with 5000m per annum, if its a daily runner, you may want to up that to 10-15000m per annum.
Negotiate hard on your discount, you want to be financing the least amount possible, you should easily get 10%+ off a new order.
If you're watching the pennies, keep optional extras and thus depreciation as low as you can get it, adding the Ceramics (£9.4k) and B&O (£6.3k) you'll pretty much have to pay for these outright within your monthly payments which will send them rocketing over a 36 month term.

You are about 1 week too late, Audi last week revised their GFV's for the RS6 down by a considerable margin.

http://www.audi.co.uk/explore-models/fi ... &period=36

For example, 1 week ago...



Today...



Everything, mileage, deposit, term exactly the same. For the same car, look at the difference in the monthlies due to the change (£895.58 vs £735.66 - Approx £160pm difference)

This is obviously on a base spec car, the more options you add, the more those amounts will increase. The GFV doesn't change much with options, so you have to pay for them pretty much outright during the term.

Reasons for the change? Perhaps the bigger discounts now being offered will have an effect on their 3yr valuations, or perhaps Audi will want you to have a good amount of equity in your car at the 3yr point to put down on your next Audi? The question is, how much is a C7 RS6 going to be worth in 3yrs time? With discount and base spec with no options, you can get the car down to £69k, if it's guaranteed to be worth £46k at 3yrs then that depreciation is very very good for this type of car (Retaining 67% at 3yrs guaranteed) With the recent change, that has now dropped down to £40k, so Audi are now only guaranteeing its worth at 58% at 3yrs) - Maths based on standard car and 10+% discount.

[R33]

That's great advice guys thanks. I probably only do 10k miles maximum per year so not too bad. I'd noticed the finance difference on the Audi site too, that's annoying to say the least as at last weeks numbers I may have had a fighting chance to convince the other half.

Oh and charge your phone Leo-RS

[Leo-RS]

Saying all that, looks like the online calculator may be out of whack a little

The above figures were based on 5,000/15,000m over 36 months and is true on the live calculator just now (£40,255 GFV)

When you up it to 10,000/30,000m over 36 months the GFV value is set at £43,117 as per below..



No idea how that works but you're probably best inquiring through a dealer. Try carwow to get an idea on discount levels and then walk into your local dealer and see if they can match it.

[GLM]

I spoke my broker that I have used for financing past cars and he told me that the current offer by VAG on 4.8% is very hard to beat at the moment. But also, if you are going factory order, you'll want to take the finance with VAG to get the discount.

[R33]

Thanks chaps, need to wait a month or two till I've sorted the other half out her new car but the more I look at them the more I lust for them so it won't be long till I join the club. Now can anyone recommend a good "hypnosis for dummies" course I can take to convince my wife this is a great idea too please?

[HYFR]

The finance calculator is borked

It wants to charge more for 5k pa than 10k pa all else being equal?!

[frank]

Not sure about you lot but I financed my RS4 when I first bought it at 2.71% flat rate...

4.8% to me sounds expensive unless there is some kind of service contract thrown in.

[doodlebug]

4.8% APR....

[frank]

4.8% APR....

Point taken

[Mcma1]

I am confused by the GFV above! I got 43 GFV and my car was 91k OTR

[W8PMC]

I am confused by the GFV above! I got 43 GFV and my car was 91k OTR

It's a black are & us mere mortals are not meant to get it.

Where you need to be careful (wider you not you personally):) is to watch for how the final payment is described as it's NOT always a GFV & can be manipulated to bring down the deposit &/or monthly payments. Audi will underwrite most things so if the final payment is set at say £60k to make the monthly payments look more attractive, this is what you'll need to shell out at the end to own the car of sell for to clear the finance. The fact the car won't be worth that is your problem not Audi's. It's not a sensible way to buy a car but often happens so just be sure you're getting a GFV which then as the name suggests puts the risk on Audi & not the purchaser.

That said, Audi are not stupid so in reality the GFV will be a little lower than the expected value. Tell you what though, i may have a punt in 3yrs at a £45k C7 RS6 with 15k miles

[Leo-RS]

Audi used to display guaranteed future value in their quotes. Now it is optional final payment. I guess the two terms are the same. (Meaning they will guarantee a buy back at that price)

Looking at the calculator, they are giving a value of £43k minimum for a 3yr old 30,000 mile car. Considering you can now buy an RS6 base spec for around £68k, £25k depreciation over 3yrs isn't too bad. Works out at around 63% of the discounted purchase price. Additional extras will make your car a more attractive for sure but you're taking the depreciation hit on them full whack yourself. The GFV may increase slightly with a select few mods, I guess Ceramics will bump it up a few £k

[Graeme4130]

Thanks chaps, need to wait a month or two till I've sorted the other half out her new car but the more I look at them the more I lust for them so it won't be long till I join the club. Now can anyone recommend a good "hypnosis for dummies" course I can take to convince my wife this is a great idea too please?

My wife is hypnotised by the lure of Handbags and shoes. I suspect it's a common theme amongst the female species, so worth a try