Car Finance Question ?

wildey_saver

Hi,

I'm lucky enough to have just ordered a new Audi. After part ex I still need to finance about £12k and agreed to take the Audi Finance, but they were quite flexible about it and basically have told me I can change how much I borrow if I manage to "find" some more money to put down on the car or sell my current car privately for more than the p/ex value they have given me.

I've since discovered I can borrow the money elsewhere far cheaper and want to borrow it from this source and effectively pay for the car in cash.

As the finance package had not been completely agreed with Audi can I just inform them that I am paying cash now and that I don't want the credit - or do they have some hold over me. They certainly have £2k that I gave them as deposit for the car as it was a factory build.


Thanks for your help.


Chris

macgasbp

Hiya.......only problem I may see is the price of the car , as part ex is included the car may be slighty cheaper so check with the dealer as youre now paying cash and not finance

alexandra1

Yes this happened to me with my last car. The dealer agree £xxx, or p/ex ( which of course was less) I sold privately so made £500.00 more to put down against the new car.
I have just bought a new cabrilolet coupe and only needed to borrow £5K, having looked at Martin's best loans site went with Cahoot. I am only paying £289.00 in total interest over 2 years- so look around for the best deal for you. Over £5K the rate usually goes up.

trainee_expert

Have you signed anything with Audi Finance yet? If not, come the purchase day just turn up with a bankers draft and pay the whole lot. The dealer may not like it as they *may* have given you more discount on the new car to close the deal with you based on you taking their profitable finance, but hey ho ;-) If you have signed with Audi, can't you just use your cooling off period anyway?