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Discussion Starter · #1 ·
Just curious how people usually finance their cars and how often people change and if they always choose the same method each time.

Our current Q5 will be 3 years old in December and I'm trying to decide what to do - tempted to leave it another couple of years and adopt a 5 year type cycle.

I outright financed last time, using the dealer finance to gain the discount and then settled immediately from cash savings but is this the most economical way of doing it?

Not being nosey about peoples finances just wondered what the consensus is?
 

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"If it appreciates, buy it. If it depreciates, lease it." J.Paul Getty, billionaire oil tycoon

This quote may not be 100% accurate, but I think the senitment holds true. Others have different views...
 

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I always PCP 4 years. This is basically as I don't want to own a car out of warranty (I get the 4th year warranty thrown in as part of the deal where possible, or if not take the risk that shouting loudly will get any out of warranty work done FoC as a 4 year old car really shouldn't have any issues...).

So I usually change at about 3.5 years - this way there is a bit of equity to use as a next car deposit (PCP is always weighted that by half way through the term you should be in positive equity). With the SQ5 I've been in positive from day one, but that's a bit of a special case as they depreciate so little.

So far I haven't stuck with the same brand twice in a row... If you do, then the offers I have got on part-ex have basically meant it's pointless looking at private sale on the 3.5 year old car to get as much equity as possible. Brand loyalty is enough for them to offer about as much as you would get anyway.

So I have gone with selling the car privately and just paying the new car deposit with what is left after paying off the end of the PCP. Note you need to be able to pay off the finance before putting it up for sale as otherwise any savvy buyer will see it on the regcheck and be scared off. I also have enough cars on the drive that I can sell a car in plenty of time and not worry about a period without car...
 

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Discussion Starter · #4 ·
Certainly that seems more of an option for me this time around as my mileage has dropped for 22k to around 10k a year which makes the PCP deals more affordable. It certainly is the warranty issue that I am concerned with as I'm terrifying myself that the mechatronic unit will fail in January!!!
 

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Certainly that seems more of an option for me this time around as my mileage has dropped for 22k to around 10k a year which makes the PCP deals more affordable. It certainly is the warranty issue that I am concerned with as I'm terrifying myself that the mechatronic unit will fail in January!!!
Given the history of S-Tronic failures, and precedence of Audi paid fixes out of warranty (even up to 5 years old) I would say that's not a major concern. If it does happen, you could basically do a deal to get a new car at that point... That way you ordering a new car which will placate the dealer into fixing it for free for the few months the new one is on order (this assumes you are going for another Audi of course).
 

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Discussion Starter · #7 ·
Getting very itchy at the moment with all you guys driving round in your SQ's, got the hankering for a bit more power and a few more options...

Why can't I just be happy with what I've got?
 

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its basically the same car - you're not missing much if that helps.
Apart from twice the power - but that's nothing spectacular
 

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Discussion Starter · #10 ·
Stop it...
 

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Discussion Starter · #12 ·
unto 50% extra power - you've got the math backwards!
Most of the time it doesn't feel any difference..
Then we can swap and I'll save a few quid?
 

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lol, it doesn't drive any different in the same way the SE vs Sline doesn't.
Remap and a supercharger and your sorted - thats even cheaper!
 

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Discussion Starter · #14 ·
Remap I'm considering I can go to 200BHP and a more useful 50lb ft of torque.
 

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I found it cheaper to take the finance deal than pay cash for my wife's new TT. I have taken the shortest PCP deal with maximum payment, to reduce finance charges. I will own car outright after 18 months. This works out circa £850 cheaper than a cash purchase after finance charges.

I could save circa £1800 if I cancel the finance. However, I intend letting in run to term as I have some other rather expensive house alterations to fund.
 

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Discussion Starter · #16 ·
Shame you can't finance it all on a 0% credit card, they seem to be throwing themselves at me at the moment!!!
 

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I say if u can buy it out rite ,do that, you'll pay a higher interest on the finance than what ud save taking out of a bank with crap interest rate,and you'll b bored of it in 3 years wen warranty runs out and b selling it then,and what ever it is worth is all yours 4 next purchase,and all you've lost is depreciation 😄
 

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Discussion Starter · #18 ·
*** packet calculation for me is that my Q5 has depreciated £330 a month from when I bought it.

Can't really think of many other cars I'd rather have on the drive at the moment for that much a month TBH.

Apart from an SQ!
 

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Getting very itchy at the moment with all you guys driving round in your SQ's, got the hankering for a bit more power and a few more options...

Why can't I just be happy with what I've got?
I had the same issue and now I'm collecting an SQ in a couple of weeks!
 

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I say if u can buy it out rite ,do that, you'll pay a higher interest on the finance than what ud save taking out of a bank with crap interest rate,and you'll b bored of it in 3 years wen warranty runs out and b selling it then,and what ever it is worth is all yours 4 next purchase,and all you've lost is depreciation ������
Agreed
 
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