A4 pcp ( discount )

[h1r4]

Hi guys ,

I'm looking to purchase a new a4 in the coming months ( September delivery ). So over the last few days I've been using car wow for quotes , from which I got a good offer from Coventry audi. So I'm going for the 3.0tdi 272 bhp s line. Of which the Base price is 38,950. I'm going to be putting down a 9k deposit ( 2.5k audi contribution) and it comes out at £297 a month over 4 years 10k pa. On pcp.

So Coventry audi quoted me around 39k for the audi I wanted with the spec I wanted. ( around 15% discount ). So what I'm confused about and what I've asked them however I'm not really getting a direct answer is how Coventry audi are quoting me £350 a month for a car that is literally the same price as the non discounted a4 Base spec 3.0tdi. Is it becuase of the options? Or am I missing something? , becuase there's only a 300 quid difference between the two prices and I don't get how it's 50 pound more?

All the interest rates and Apr is the same.


Any help would be must appreciated


Thanks

 

[ScottishA4B9]

What I found with the Coventry Audi Carwow prices are that the price they quote you ALREADY includes the £2.5k discount. In escance they have already used the £2.5k deposit contributation to bring the price down to the price you see quoted on the screen.

 

[ScottishA4B9]

And remember putting down such a high deposit will result in high negative equity at the other end. Well that's what has been explained to me anyway.

 

[h1r4]

Ohh!! , that makes a lot of sense! , yeah I'm not sure about the deposit.. however I will be p/x the car when it's due to go back so I'm sure the negative equity wouldn't make a difference?

 

[ScottishA4B9]

I believe that having high negative equity can effect the deposit come the other side if your trading in. I could be wrong. Someone more knowledgable than me might be able to advise better.

 

[ScottishA4B9]

I was told by 2 Audi salesmen that the maximum they would reccommend putting down on a deposit is £5k. Yeah your monthlies will be higher, but the extra money that you haven't put in on the deposit, can be used to pay the higher monthly payments.

 

[DrEskimo]

Its only the GFV and amount you the dealer offers you that affects your 'equity'. The amount of deposit and your monthlies are irrelevant. Whether you want to pay the capital and interest with a higher deposit and lower monthlies, or low deposit and high monthlies is purely a preference. Of course higher deposit does mean less interest, so that's the only real way of paying slightly less, but at an APR of 6% it's not exactly enough to make it particularly worth. Especially if you have better ways of spending that deposit money and can afford the higher monthlies.

 

[h1r4]

They've quoted me 17.2k gfv value after 4 years.. as it is a preference if I put a higher deposit ( which was/is going to be my a3 s line ) , to give lower monthly instalments the Apr I'm being offered is 4.8%

Thank you guys for helping and shedding some light. As I was very confused a few hours ago.

But any extra advice on pcp would be much appreciated as I've never used pcp only HP

Thanks

 

[DrEskimo]

Another good reason to put a lower deposit is that you can always put more in to lower your monthly payment if you need to, can't take it out.

 

[Scottk]

I think with PCPs, that the options are more or less paid off during the term and don't add much to the GMFV. This will be the reason the base spec is £50 less. The saleman told us last week that the options won't make much difference to the trade in price as I had asked which options gave the best returns. This is rubbish as the buyers will be wanting certain specs and better specced cars are worth more, but it obviously works in their favour.

 

[h1r4]

I've just got a quote on a cheaper 2.0tdi quattro same deposit , same options the 3.0tdi came out at 39k incl discount and the 2.0tdi quattro came out at 36k with the options I wanted. However what is making me laugh is that the finance quote per month is the same £350 a month lol... so there's no difference..

 

[DrEskimo]

Happened when I was looking at the A5 2.0TFSI quattro and the S5. The higher GFV of the S5 offset the slightly higher overall cost. Seemed daft not to go for the S5, so thats what I did!

Of course the cost of the car is only one factor. Running costs/ servicing and insurance are all likely to be higher so that needs to be considered.

 

[h1r4]

That's true! , but I just used one of those pcp calculators , ( not sure how accurate they are ). But put all the figures in the for quote I received for the 2.0tdi quattro and it comes up at £252 a month. So unless the calculator is wrong or something I'm rather confused again..

The gfv between the 2.0 and 3.0 is 2k if that helps

 

[DrEskimo]

Sometimes the APR calculation is a bit dodge. You made sure to only include the discount, and not included the discount + the audi contribution? As stated, the discount from CarWow includes the Audi contribution.

Get the figures off the Audi finance calculator on their website and get the PCP calculator to match it. The update the figures to match your discount and car spec.

(As an aside, with your deposit, your monthlies would actually be slightly cheaper on a 24month deal, rather than 48month. ITs not actually cheaper, as your deposit is spread over a much shorter time frame (i.e. cost per year is higher), but I did this as didn't want to be tied down for a long term).

 

[h1r4]

okay , so by using http://www.pcpcal.co.uk/

the following details
car price £35,949 ( including audi deposit 2.5k)
deposit of £9,000
GFV: £15,879
APR 4.8%
48 months
10k miles pa
it comes to £317

then trying the same website using audi's finance calculator figures, this website gives £306 and audi's website gave me £310 so it's like 4 quid off. i changed my deposit on the audi website to £6500 because of the deposit contribution ( 6.5k+2.5k = 9k if you get what i done ). so i dont get where they're getting £345 a month from. its only £5 different from the 3.0tdi 272bhp i may aswell go with that but i wanted to pay around the 300 mark. of which im happy with £317

i've asked Coventry audi for a full breakdown and it still comes up as the same.

@DrEskimo if you could try the same details as i've put above into the pcp calculator. As i have no idea. it's kinda putting me off buying a new car now too :/

Also the quote i've been given on the audi website i've put the following 2.0tdi s tronic quattro
car price £35,450 (£500 less than my discounted quote, so it should be somewhat similar around £10 a month more for my spec + discount )
deposit : £6,500 ( because the price doesn't include the dealer contribution whereas the carwow one does )
dealer deposit : £2500
gfv :£15,879
apr : 4.8%
10k miles pa
comes to £310 a month.

so i'm not sure where coventry audi are getting 345 from?

can anyone help LOL

 

[DrEskimo]

Is the above the breakdown from Coventry, or from the Audi website? Does what Coventry give you match the Audi website?

 

[h1r4]

Okay so the above of what I posted , the first part is from a website.

The second part is from audis website which doesn't match Coventrys. The one that comes to £310 with a 6500 deposit is the audis website and the one from Coventry is £345.60. So I just don't get it

I don't know if I'm being stupid or what

 

[DrEskimo]

Post the breakdown of Coventry's quote when you get it. Only way you will be able to determine why they are different.

Does seem odd I agree...

 

[iambu]

I also noticed a difference between Audi website and a PCP quote from Coventry Audi via Carwow. Although this 'quote' was a Message from them via Carwow. When I got Exeter Audi to price match Coventry's Carwow price, Exeter sent me an official Audi Finance Solutions PCP quote by email, and the monthly payment was lower than what Coventry said it would be.

If you plan to order from Coventry, ask them to email you an official Audi Finance Solutions quotation, as a PDF document. Any Audi dealer can do this so don't let them fob you off.

 

[h1r4]

@iambu thank you so much! I thought I was going mad or something , what i'm going to do is contact hitchin audi and see if they can match coventry audi and also get an official audi finance solution from both dealers. Do you mind if i ask how different the quote was from exeter audi compared to coventry.

@DrEskimo here's only a bit of what i've got from coventry. Tomorrow i should get a breakdown , and hopefully suss out wtf they've been doing. otherwise i'll just try different dealerships and hopefully get a price match because i'm getting 7k off the 3.0tdi and 2.0tdi (most likely go with the 2.0)

thank you guys you've been so much help! if i get that £300 mark i'll be hitting the order button

but here's my spec in the mean time :
Technology Pack - A4.0
3 spoke flat bottom multi-function leather steering wheel.
Audi parking system plus.
Hill hold control.
Piano black finish inlay.
Alcantara/leather - Black.
Heated front and outer rear seats.
Electric folding door mirrors.
Light and vision pack - A4.
Comfort and sound pack - A4.
19" 5 spoke V design titanium diamond cut alloy wheels.
in daytona grey of course

 

[DrEskimo]

@iambu thank you so much! I thought I was going mad or something , what i'm going to do is contact hitchin audi and see if they can match coventry audi and also get an official audi finance solution from both dealers. Do you mind if i ask how different the quote was from exeter audi compared to coventry.

Thats what I did. Got the discount quote from Coventry and got Amersham Audi to match it. Highly recommend David there if thats local to you. Did me a great deal on my S5 and customer care was great.

 

[h1r4]

Thats what I did. Got the discount quote from Coventry and got Amersham Audi to match it. Highly recommend David there if thats local to you. Did me a great deal on my S5 and customer care was great.

It's only 24 miles away from Luton, I'll give them an email and see what they say

Thanks

 

[ScottishA4B9]

Yeah I got Lincoln Audi to Price match Coventry Audi's Carwow price!

Your spec is just about exactly the same as mine!

Lincoln Audi are brilliant by the way.

And Daytona Grey all the way!

 

[iambu]

@iambu thank you so much! I thought I was going mad or something , what i'm going to do is contact hitchin audi and see if they can match coventry audi and also get an official audi finance solution from both dealers. Do you mind if i ask how different the quote was from exeter audi compared to coventry?

After being offered 16.42% discount on the purchase price from Coventry Audi via Carwow, I emailed about 6 Audi dealers who are more local to me to ask if they could price match. I didn't ask them to beat the quote. I told them the purchase price I wanted them to match, and explained that I had been offered this price on the basis of taking out Audi Finance (which I will be doing). The 'Cash' price quoted from Coventry was £1000 more expensive, due to no £1k deposit contribution from Audi UK.

A lot of dealers replied to say they couldn't match it, including my most local dealer who I know well due to my wife buying cars from them in the past. I pushed and pushed them but they could only get within £1k of the Carwow price.

Exeter Audi took it to their Head of Business and agreed to match the purchase price, happy days!

I changed my spec a few times so I may be wrong about this, but Coventry 'quoted' me £324 per month, whereas Exeter sent me an Audi Solutions quote for £298 per month. This has since increased as I have added to my spec.

Exeter have been great so far, very quick email responses and friendly when I rang them to ask some questions and pay my £1000 deposit to order.

When they first quoted me they did automatically add on GAP Insurance, Alloy Wheel Insurance, etc etc which increased the monthly payment by about £50/month! But they kindly removed it all straight away once I said I didn't want any of it.

Something to be aware of though is that they have explained that the Audi Finance Solutions website/software automatically adds in the current Audi finance offer, which is a £2500 deposit contribution. This is made up of £1500 from the local Audi Centre, and £1000 from Audi UK. Therefore to match the Coventry price, my Audi Solutions quotes have the 'Purchase Price' manually increased by £1500. They do this otherwise they would be honouring the purchase price (which is already heavily discounted by 16.42%) and then giving a further £1500 discount! Hope that makes sense - took me a while to get my head around it!

Any questions, feel free to ask me

 

[ScottishA4B9]

My deal is as follows:

Audi A4 2.0 TDi 190 S line Saloon

Options:
Daytona Grey
Technology Pack
3 spoke flat bottom multi-function leather steering wheel.
Audi parking system plus.
Hill hold control.
Piano black finish inlay.
Heated Seats
Light and Vision pack
Privacy Glass
Engine and model badge deletion at rear
Bigger Fuel Tank
Bigger Ad Blue Tank
19" 5 spoke V design titanium diamond cut alloy wheels

Price: £31,995
Deposit: £3000
Monthly Payments: £399
Payments over 4 Years

 

[h1r4]

well i've emailed 5 dealerships , so i'll see how this goes!

 

[h1r4]

First reply from Hatfield audi have said they cannot match lol

 

[A4 SJC]

And remember putting down such a high deposit will result in high negative equity at the other end. Well that's what has been explained to me anyway.

A high deposit wont result in negative equity, in fact its most likely the opposite as your payments will be lower.

What doesn't change is the GFV, meaning you still owe the same at the end regardless of deposit.

You're also much less likely to see any of your deposit back at the end if you stick in thousands up front. You do have the benefit of lower monthly payments and less paid overall due to less interest charges.

 

[A4 SJC]

@h1r4 - I'd take any figures from Audi's website calculator as a rough guide. GFV's can change almost daily so getting live quotes from your dealer is the only way to make sure they're accurate.

 

[iambu]

First reply from Hatfield audi have said they cannot match lol

I'm sure at least one dealer that you've emailed will match the price. Failing that, don't be afraid to order from Coventry Audi via Carwow, as my sister got her new Q5 from them in September 2015 and had no issues with the order or their service.

 

[DrEskimo]

First reply from Hatfield audi have said they cannot match lol

Spoiler, Watford Audi didn't want to know when I asked...!

Hatfield and Watford do provide CarWow quotes, whereas Amersham don't, so maybe they stick to their own offers whereas Amersham didn't have one to compare it to?

 

[ScottishA4B9]

A high deposit wont result in negative equity, in fact its most likely the opposite as your payments will be lower.

What doesn't change is the GFV, meaning you still owe the same at the end regardless of deposit.

You're also much less likely to see any of your deposit back at the end if you stick in thousands up front. You do have the benefit of lower monthly payments and less paid overall due to less interest charges.

So basically it doesn't really matter what you do? High deposit or low deposit.

 

[A4 SJC]

So basically it doesn't really matter what you do? High deposit or low deposit.

To an extent, no. Just depends on your appetite for burning and saving cash. They've got you one way or another, either high deposit and low monthlies or low deposit and higher monthlies.

The GFV's are set realistically. As a base trade in value (before discounts or contributions) in 4 years time you'll be lucky to have £500-£1000 equity in your car. The rest is smoke and mirrors from discounts and contributions.

As an example;

You put in £8k deposit, your payment is £300/month x 48 months and your GFV is £15k. The car is still 'worth' £15k (give or take) in 4 years time but you 'need' £8k to put in to your next car to keep monthlies similar, so in reality your payment is £300 to Audi and £167 into savings (£8k/48 months). Obviously any additional discounts available when you change will offset your £8k, but there's never any guarantee that these will be available

 

[ScottishA4B9]

My dealer said they try to get you into a new model at the 2 year point for the same or near to existing monthly. I might even upgrade to the S4 at that point!

 

[h1r4]

I've got an reply from Bedford audi , who are willing to match and potentially beat the price. I've emailed them back just waiting for a reply tomorrow!

 

[ScottishA4B9]

The only reason I got my deal the Sakes Manager told me, was that they needed to meet their sales target.
So it's definitely worth pushing the dealers.

 

[h1r4]

It's probably the same for me aswell to be honest. Bedford audi are most likely trying to reach their sales target.

Has anyone got any idea why Coventry audi give so much discount?

 

[ScottishA4B9]

I think with Coventry Audi is that despite their profit margin being so small, their volume of sales is very high so they make their money through sheer volume and meeting their sales targets. That's my guess anyway.

 

[scotty76]

I found Maidstone Audi come up a lot on CarWow, I assume for a similar reason i.e. shift a lot of cars. What was amusing was I emailed my CarWow quote to Newbury Audi who said no thanks, then the following day I got a quote from them via CarWow! Ultimately I got the car from Reading Audi who got very, very close to the CarWow quote. So good luck @h1r4 I'm sure it's only a matter of time until you get what you need.

 

[scotty76]

All this smoke and mirrors with PCP is why I decided to pay off my deal with a cheap bank loan and actually own the car! You know the only winners in the end are gonna be the dealers / Audi Finance. Now I just need to keep the S4 for a long time to make it all work out.