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car finance
Hi all
just some advice on car finance needed please
Im thinking about getting a brand new audi a1 5 door 1.4 model, valued at around 16,500
In order to finance this i will put a 2000 deposit down and part exchange my current car for at least 2000
i have been offered a pcp plan at 190 a month with a settlement figure of around 7500, this is over 3 years and at 15,000 miles a year!
what are peoples thoughts on pcp is it any good and how does it work?
just some advice on car finance needed please
Im thinking about getting a brand new audi a1 5 door 1.4 model, valued at around 16,500
In order to finance this i will put a 2000 deposit down and part exchange my current car for at least 2000
i have been offered a pcp plan at 190 a month with a settlement figure of around 7500, this is over 3 years and at 15,000 miles a year!
what are peoples thoughts on pcp is it any good and how does it work?
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Comments
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After three years, the car will be worth about £8k and you would be paying £7.5k for it with probably 45,000 on the clock after paying £190 a month over 36 months and a £4k deposit. Do you have to pay tax, insurance, servicing etc on top?
Yer pays yer money and yer take yer choice."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
Insurance works out at around 800 per month
Road tax is 30 per year, first year 3
services arm around 150 per service
i would have to pay everything, may be able to get a free service plan thrown in where dealer will cover the cost of services!0 -
Insurance works out at around 800 per month
Road tax is 30 per year, first year 3
services arm around 150 per service
i would have to pay everything, may be able to get a free service plan thrown in where dealer will cover the cost of services!
That's the insurance for the Queen Mary II - not a car!"There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
Obviously i meant a year0
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Will your car still be worth £2000+ in March 2012, that's if they really do launch them in March 2012, or are the dealers standing on your P/X price?
ML.He who has four and spends five, needs neither purse nor pocket0 -
When the A1 came out it could be had (lease) for about £210 / month inc vat with 6 months down and 15k pa - same 1.4 tsi engine. that's about £8,820 vs £10,840 Your assumed £4k deposit and 190 per month doesn't look great (ignoring the potential trade in dip) as with your buy back figure i'd be surprised if you got much / anything back at the end. Of course if the car holds its value particularly well and it's worth £10k trade in (very unlikely) after 3 years things change a bit.
Have a look at personal contract hire figures for the current 3 door car, assuming the 5 door has similar figures once it's out that may be a better option if you must have a new A1. I would personally check out the polo or fabia VRS, again it could be had for £200pm recently though that was 10kpa0
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