PCP deal calculation help
Discussion
Well went on the coast2coast website and done a quote with similar spec and have got a price of £31,445 OTR so I went back with that number 
I'll stick with my £5,000 deposit 36 month 8,000 miles/annum preference for PCP. Let's see what they come back with. Not too fussed if I don't get the car as long as I get my sodding deposit back but if they agree to match deal and monthly payments is around 380 I might just go ahead.
I'll stick with my £5,000 deposit 36 month 8,000 miles/annum preference for PCP. Let's see what they come back with. Not too fussed if I don't get the car as long as I get my sodding deposit back but if they agree to match deal and monthly payments is around 380 I might just go ahead.
Edited by crazy about cars on Tuesday 16th December 19:00
daemon said:
Bloody hell. Thats a good price!
I might have missed out the inlays and red calipers but I doubt they will add much to cost. Didn't realise the S3 comes with option for LED headlights though! Tempted but should be happy with the Xenon Plus.
dealer quoted spec said:
S3 3 door 6 speed manual in Panther black
Bang & Olufsen
Black styling package
Technology package with Audi connect
Comfort package
Privacy glass
Red brake calipers
Black inlays
Bang & Olufsen
Black styling package
Technology package with Audi connect
Comfort package
Privacy glass
Red brake calipers
Black inlays
Edited by crazy about cars on Tuesday 16th December 19:04
Grandfondo said:
What's the total cost to buy at £31k?
With same parameters I presume it's around £37k however I don't intend to buy it outright and also don't intend to put the full 13k into the PCP as deposit Anyhow doubt they'll consider a £4.5k discount (£36k -> £31.5k) no matter how desperate they are
Edited by crazy about cars on Tuesday 16th December 19:16
End of Day 2 requesting deposit back and still haven't received any. Just sent another email saying if they cannot match the quote I gave yesterday while retaining same (or lower) APRs there would be no further negotiation - I just want my deposit back as promised!
Personally I'm being very sceptical how they can find a brand new car with the specs I wanted in such as short time.
Personally I'm being very sceptical how they can find a brand new car with the specs I wanted in such as short time.
Mandat said:
The notion of "renting" the car is a red herring, and a lot of people incorrectly get hung up on that point.
Imagine that you buy a new car with cash and sell it in 3 years time. You will lose £x based on the car's depreciation and you will have no car once you sell it. Even though you initially bought the car outright with cash, you have effectively rented the car for £x/36 per month.
IMO, to work out if the deal is good for you, compare the total cost of ownership with the different payment methods (cash, HP, PCP, lease, etc) over the term that you want, to see which offers you most value for money, flexibility, etc.
Agreed. If only Audi could discount closer to 4k I'd definitely go ahead. I can afford it but I just don't feel comfortable committing if that makes sense. If it's 450/month but I'll own the car (no GFV) then it's a different story.Imagine that you buy a new car with cash and sell it in 3 years time. You will lose £x based on the car's depreciation and you will have no car once you sell it. Even though you initially bought the car outright with cash, you have effectively rented the car for £x/36 per month.
IMO, to work out if the deal is good for you, compare the total cost of ownership with the different payment methods (cash, HP, PCP, lease, etc) over the term that you want, to see which offers you most value for money, flexibility, etc.
Regarding the APR% it's been mentioned that 7-7.2% is normal for new cars while it's around 11% for used. Again I've been told the S3 I was offered is a new car not a pre-reg. Must be a cancelled order.
Has anyone managed to secure a better APR on Audi Finance? If you look at the screenshot closer the part around "Audi Finance" looks a bit funny as though it's been pasted over. Also did anyone notice "Add. charges" has been added to make the final price £33k? Is this normal?
Has anyone managed to secure a better APR on Audi Finance? If you look at the screenshot closer the part around "Audi Finance" looks a bit funny as though it's been pasted over. Also did anyone notice "Add. charges" has been added to make the final price £33k? Is this normal?
Edited by crazy about cars on Saturday 20th December 10:00
Edited by crazy about cars on Saturday 20th December 11:43
Well I know I shouldn't have but seen 2 used M135is with right colour and spec so I've asked for HP deals. It was over 780/month so I've asked for some PCP headline figures instead.
Car #1 retails at £31,500. 64 Reg
GFV £13,000 -ish (not confirmed)
5,000 deposit
36 month term/8,000 miles (No GAP)
Monthly payment = £580/month! Told him no straight away.
Car #2 retails at £27,500. 63 Reg although registered in Feb 2014
GFV £14,478
5,000 deposit
36 month term/8,000 miles (No GAP)
Monthly payment = £379. It was then pushed down to £350. Did some thinking but ultimately turned down.
350x36 + 5,000 = £488.88/month just for "renting" a used (albeit still very new) car. As a comparison I was paying around 420/month on a 20k car loan but I get to keep the car at the end not just walk away!
I like new cars and also like to change cars often and I definitely think PCP can work if I am careful. Just need to spot a nice deal on a new car and most importantly be patient!
P/S: Regarding the "can't afford to own" I would somewhat agree. I can get the equity to pay the balance outright but that would be crazy thing for me to do as I'm basically emptying the new house fund. So yes, I technically cannot afford to own a brand new car outright now.
Car #1 retails at £31,500. 64 Reg
GFV £13,000 -ish (not confirmed)
5,000 deposit
36 month term/8,000 miles (No GAP)
Monthly payment = £580/month! Told him no straight away.
Car #2 retails at £27,500. 63 Reg although registered in Feb 2014
GFV £14,478
5,000 deposit
36 month term/8,000 miles (No GAP)
Monthly payment = £379. It was then pushed down to £350. Did some thinking but ultimately turned down.
350x36 + 5,000 = £488.88/month just for "renting" a used (albeit still very new) car. As a comparison I was paying around 420/month on a 20k car loan but I get to keep the car at the end not just walk away!
I like new cars and also like to change cars often and I definitely think PCP can work if I am careful. Just need to spot a nice deal on a new car and most importantly be patient!
P/S: Regarding the "can't afford to own" I would somewhat agree. I can get the equity to pay the balance outright but that would be crazy thing for me to do as I'm basically emptying the new house fund. So yes, I technically cannot afford to own a brand new car outright now.
Edited by crazy about cars on Wednesday 24th December 12:13
TA14 said:
You seem to have this quite well weighed up. I guess the questions now are: how much are you prepared to pay per month for the use of a new car and is it likely that a deal will be offered at that price?
I would be looking at German hot hatches like S3, M135i or Golf R. The term would have to be 36 month/8000 miles. I would like to stick to max of £5,000 as deposit. I'll be happy to pay around 250/month. If on HP I am willing to pay up to 450/month and put in larger deposit. From my experience so far that doesn't seem possible on PCP but let's see what the new year brings. Some people mentioned leasing which is something I need to look into as Audi/BMW/Merc doesn't really push personal leasing.
I've "lost" a lot when changing cars in the past as I've almost never negotiated on discounts, however all those cars were either bought outright or on HP so I own the car in the end someway or another. Hence on PCP I would hope to do all the research and be comfortable with what I'm going into.
4%-ish APR is good, very good indeed for a £20,000 loan! I really need to do my research on loans as in my position it gives me more choices and also very competitive rates to PCP. However a 2014 (63 reg) M135i is only £5k more so that might sound like a better proposition. M Performance exhaust + debadged is good and I love that colour however I would prefer H&K system.
Fox- said:
I think in your position I would look at an older M135i - they are all low miles and warranted anyway so why not save a pile of money?
http://usedcars.bmw.co.uk/1-Series/3.0-M135i/Bosto...
This one has the M Performance Exhuast and you could probably get that price down to nearer £20k. Drop your £6k deposit down, borrow £15k from Santander or similar at 4ish % APR and over 48 months you are paying £339.
You can almost always haggle 2 years warranty into the dealer then circa £40ish a month for the remaining 2 years.
Then either:
a) At the end of the 48 months you own an M135i outright. Judging by the values of the old shape 135i or 130i hatchbacks it's going to be worth at least 10k. Yours to do with as you wish.
b) Want a shorter term? With a £6k deposit the car is likely always going to be worth more than the loan and the loan isn't secured on the car, so simply flog it and pay the loan off.
http://usedcars.bmw.co.uk/1-Series/3.0-M135i/Bosto...
This one has the M Performance Exhuast and you could probably get that price down to nearer £20k. Drop your £6k deposit down, borrow £15k from Santander or similar at 4ish % APR and over 48 months you are paying £339.
You can almost always haggle 2 years warranty into the dealer then circa £40ish a month for the remaining 2 years.
Then either:
a) At the end of the 48 months you own an M135i outright. Judging by the values of the old shape 135i or 130i hatchbacks it's going to be worth at least 10k. Yours to do with as you wish.
b) Want a shorter term? With a £6k deposit the car is likely always going to be worth more than the loan and the loan isn't secured on the car, so simply flog it and pay the loan off.
Fox- said:
Is it?
I don't see what £5k gets you that makes it worth spending to get a 63 plate instead of a 62 plate.
Length of warranty as I'll most probably keep it for 3 years at least. In the example you have given there's 1 year left on manufacturers and AUC warranty is not applicable when there's balance of manufacturers left. Regarding discounts you'd be surprised at how reluctant BMW is at giving them on used cars. Having nearly £3k off is neigh on impossible I think.I don't see what £5k gets you that makes it worth spending to get a 63 plate instead of a 62 plate.
3 years down the line I would guess that car would be worth very close to £10-12k which is less than the value I've borrowed (£15k + interest).
The more I think of it there's really no win-win situation for a buyer unless there's been a great deal like what they used to do for the new Golf Rs.
Fox- said:
I covered warranty in my post.
Both of my last two AUC cars have been priced at similar levels to that and on both I've negotiated circa £2k and an extra years AUC warranty.
The 1 Series warranty is inexpensive to renew.
Hmm, I need to brush up on my negotiation skills than. My last 60 plate E92 M3 I managed to get 2 year AUC instead of one but hardly get any discount. I think £500 off was most I could manage.Both of my last two AUC cars have been priced at similar levels to that and on both I've negotiated circa £2k and an extra years AUC warranty.
The 1 Series warranty is inexpensive to renew.
How would AUC work on a car that has 1 year remaining on manufacturers though? Do you negotiate another 2 year AUC after manufacturers expire so 3 years in all for a 2012 car?
My bank is offering 4.4% loan now and I can get that in my account in few minutes so would something to consider if I find the right car.
As I've said I have no intention of keeping this car long term as I'm a serial car changer so would like the best bang for buck I can get.
P/S: Found this lovely example. Not sure if it has H&K though...
http://usedcars.bmw.co.uk/1-Series/3.0-M135i/Coven...
Edited by crazy about cars on Wednesday 24th December 18:56
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