New Audi Q7 Finance question...

[nano]

Hey guys

Just looking for a bit of advice really. Just put down a £1000 deposit on an 18 reg Q7. 3500 miles, spec isn't amazing but it comes with the black out pack, 21" alloy wheels and the technology pack.

I've been offered two different finance deals and just want some perspective views on them please...

The first is with the finance at 6.9% with £15000 down. I have put a link below so that you can see the exact breakdown.

https://1drv.ms/u/s!AhLts4uLFwaqxjb2EJrmMNjVCi8l

The second is at 9.9% with £15000 down but includes two free services.

https://1drv.ms/u/s!AhLts4uLFwaqxjd9IndGi3RrqkGb

Which one looks like the best deal. Chances are with the mileage I am doing we wont see the need for two services as they are staggered at 20k miles or two years whichever comes sooner. I think realistically we will be in the car for 3 years and do tops 25k during that time.

Which one should I go for? I think obviously the lower APR but I'm not an expert on these things.

Thanks for any input...

Phil

[nano]

Thanks for the input. The total figures above includes the paint, alloy and tyre protection package along with the GAP insurance. The cars value is 48500 at the dealer.

Just checked out the new price and I can see the 50tdi Black edition coming in at £67295 or £528 a month with a £15k deposit which I can see is a good deal but I'm struggling to understand how driving the car off the forecourt and losing nearly £10k of value immediately is a good idea?

[nano]

Macneil said:

You do seem to have more money than sense.

Not really but I don't normally buy cars this way hence me asking for advice...

I've just gone on the Audi website to price the car as above and that's what it has given me. I don't really understand what or how drivethedeal works.

[nano]

Blimey, looks like I'm going to be spending sometime on the phone to the main dealer tomorrow then. Just found another local dealer to me offering £10k+ worth of contributions towards the deposit which takes the new car down to around £58k.

I presume it's those contributions which act as the discount on the list price.

I can see where I'm going wrong!

[nano]

jimmy_wrxsti said:

To confirm - via drive the deal a new 50 TDI Q7 Black Edition is £54,679 with discounts.

APR is listed as 4.9% so on a PCP with £15k deposit and a GFV of £35k over 3yrs then that is around £290 per month.

Even if that GFV dropped to £28k you would still be paying less for a new car than the one you have quoted.

How did you get the payments per month down to £290?

This is what I have been able to haggle with the dealer with a few extras put onto the vehicle after using Car Wow against them....

Invoice Price : £62,508.00 (Inc T/A/C and Gap)
Cash Deposit : £15,000.00
Deposit Contribution : £3,750.00
Net Deposit : £18,750.00
Term : 49 Months
Annual Mileage : 10,000
Monthly Payment : £431.37
GMFV : 31,041.25
APR : 4.9

So this car would be £57810 if the tyre alloy paint and GAP insurance was removed (which I may still do if I can find out where to look for a cheaper price).

Do the figures stack up? Obviously I have definitely gained in the long run because the GMFV is considerably more and the finance payments are lower on a higher better spec vehicle.

Cant believe what a simple question can gain with people that understand about these things!

[nano]

Sorry my mistake on the figures. Its around £1700 for the tyre, alloy paint protection and gap insurance. I think I will look at getting the GAP from a separate provider, more than likely my insurance company if possible to keep things simple but I will see what they come back with.

Regarding the tyre, alloy and paint protection does anyone have any advice on who to go with? I don't want to take a seperate policy out and then find they try to wriggle out of claims, etc.

[nano]

Ok small update. I decided to try out Car Wow and had a host of local'ish dealerships making me offers, all of which were initially no where near 'Drive the Deal'.

Helpfully though the dealership I had initially put my deposit down with (on the used car) were the best priced at £57800. Now I still wasn't happy with that after what you guys had pointed out with the 'Drive the Deal' price so I was prepared to wait it out with them.

So the following day Car Wow updated my offers saying they had come down to £57000. When I looked at the quotes it was saying that Audi had increased its contribution on all of the offers from £2000 to £2750.

So in the space of 12 hours another £750 had been shaved off the price.

I went back to the salesman and basically said you keep telling me this is your best price but your offer price on Car Wow keeps dropping!

The salesman I think by this point was getting a little confused with what he was being told he could do and what Car Wow was telling me so I was then handed to the Business Manager.

The car that we had sort of ear marked as the car for me was specced as follows... Orca Black Metallic (£750 extra) and it had Bose (£1100 extra) so the initial 'Drive the Deal' offer was £54500'ish if I remember rightly but this was for a basic car.

I liked the idea of having Bose as I know Bose equipment is good and it definitely made a difference when I heard it in the demo cars over standard but it wasn't a deal breaker. It was a bit of a bonus on my end that the car had it.

I also enquired about a 3 year deal which he agreed he would do so that bought the GMV up to £35000 and the monthly payments down further. I also got a free service put in as I had agreed to do 10k miles per annum so I would only be in the car for one service.

So in summary I got the car for slightly over the drive the deal price but considering that it had the metallic paint option and Bose I think I did alright.

Cant believe that I have stepped into a new car for less money a month with a much better GMV and 4.9% APR. I cant recall what the exact monthly payment is but I think its in the region of £350'ish so that is a clear £100+ a month cheaper against the used model I initially started this topic with!

Beers owed to one and all