Buying an Audi on PCP

[Terzo123]

Where's the popcorn smilie when you need it.

[Monkeylegend]

How much is insurance?

[hornetrider]

Jesus Christ.

[Monkeylegend]

That surprises me, thought it would have been more.

Your best bet surely is to speak to the provider of the car and they will do a credit check, usually doesn't take long. I don't think you will get many sensible answers on here.

[Prohibiting]

Fishing. Don't bite

[Tankrizzo]

Mac1997 said:

Around £1200 for the year.

Custard?

[Monkeylegend]

Maybe but no harm in trying to help a fellow car enthusiast.

[MrBarry123]

I'd reckon that yes, you probably would be accepted.

[ashleyqprw12]

They'll give PCP to anyone even with horrid credit scores because they have an asset to take back.

I find the way to look at a pcp is accept losing your deposit and monthly payments. Then after the 24/36/48 months accept the the GFV might not leave any equity so you might have £0 or if your lucky you may have a deposit for your next car but treat anything over £0 as a bonus

[dannyDC2]

Definitely do it. PCP was the best thing I ever did for myself, my wife, and my children.

[IanCress]

Taking on that much debt at 19 sounds like a really silly thing to do. Once you've got over having a nice shiny new car, you'll realise the debt is really holding you back from doing anything else such as going on holiday, moving out of your Mum's house, maybe even getting a phone contract.

What deposit and monthly payment figures have you been quoted, out of interest?

[okgo]

15 grand and you're asking about a premium german car?

ffs.

[ex1]

Mac1997 said:

Hello,

I'm look at buying an Audi TT 1.8 brand

annual income of £15,000.

This has to be a wind up!

Dont do it, PCP's are a trap.

[Derek Smith]

I'll echo the concerns about that much needless debt at your age.

I'm about to go for PCP but I'm in my dotage. I would not even have considered it at your age. Come to that I didn't consider it when I was 60.

Taking out more than your annual income. Scary.

[Mac1997]

IanCress said:

Taking on that much debt at 19 sounds like a really silly thing to do. Once you've got over having a nice shiny new car, you'll realise the debt is really holding you back from doing anything else such as going on holiday, moving out of your Mum's house, maybe even getting a phone contract.

What deposit and monthly payment figures have you been quoted, out of interest?

It really isn't that bad. I've got quite a bit saved up already and have a car worth 2k which will cover the deposit. I'm looking at around £330/m with the model and extras I want.

So I will have plenty of money left over to spend the way I see it.

[RushDom]

Obvious troll is obvious...

[sparks_E39]

No no no, terrible idea at your age and on your wages! Running the car shouldn't be an issue as I was on less than that when I purchased my first BMW 5 Series, but the monthly repayments and insurance sound like they could be crippling. £15k might sound a lot now at your age and probably better than a lot of 19 year olds get, but it really isn't much at all. Don't do it. Save up a few grand and get something a bit older but just as fun, and probably more interesting. The debt will stay with you long after your interest in the car has dwindled.

[Triumph Man]

I earn over twice that and wouldn't consider £330 pcm justifiable! Seriously, save yourself the trouble of being that much in debt.

[John Laverick]

Mac1997 said:

Hello,

I'm look at buying an Audi TT 1.8 brand new on PCP. I've got some pretty good quotes but I'm wondering if I have any chance of being accepted.

I'm 19, turning 20 in December. I have a credit score of 900 on Experian and an annual income of £15,000. I can also use my mum as a guarantor.

Thanks!

Not been funny but buying a brand new TT (£35000 worth at a guess?) when you're 19 and earning £15k doesn't make ANY financial sense to me. You're throwing your money away in my humble opinion.

I earn much more than you and whilst I could afford one I certainly couldn't justify one.

I'm sure others will be along to say the same as me and other people will say 'you only live once go for it' but I think you'll regret it once the novelty has worn off.

[HJMS123]

I know people of a similar age who have managed to PCP similar cars on minimum wage jobs with parents as a guarantor so yes, you probably be accepted.