# Newbie from West London! :)



## Lrihk (Jan 13, 2014)

Hi everyone! 

Finally decided to join this forum after lurking on here as a guest for few months.. and by joining means I have decided to dive into the TT scene! However I do need some good feedback/advice regarding my purchase.

I was originally going to purchase a Scirocco, but then heard a new Scirocco is out later this year with no exact release dates so decided to put it on hold and then I moved towards the TT and now found that a new TT is out later this year is well! 

So I'm in a bit of a dilemma, do I wait until the MKIII comes out or should I just purchase the MKII..?

What would be the best decision to make bearing in mind I just got a very nice quote from *Drive the Deal* which I have attached some screenshots of with the options I have specced (forgot to add Adaptive Headlights).

The model if it is the MKII which I decide to get is the:

2.0T Audi TT Black Edition S-Tronic (non Quattro, did a lot of research and decided not to get the Quattro in the end.. was a very hard decision though!)

Specced it with:

• Ibis White Solid Paint
• Extended Leather
• Interior Light Package (read about this, but is it really worth it?)
• Comfort Package
• Technology Package
• Adaptive Headlights
• Tyre Pressure Monitoring System

I think I overdid it with the options.. [smiley=freak.gif]

Any feedback would be appreciated on this is well! Think I chucked a lot on just because the saving was so good!

I look forward to hearing from everyone 

Thanks
P


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## davelincs (Jan 1, 2010)

Welcome to the forum, mk 2 or 3, well obviously it's your choice, at the above price I would go mk 2 , you will be getting a new car with a decent discount, I am sure you will not get any discounts on the new model, good luck, let us know what you buy


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## YELLOW_TT (Feb 25, 2004)

Welcome as above you will not get a discount on a mk3


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## Lrihk (Jan 13, 2014)

Thanks for your feedback 

I've phoned *Drive the Deal* and it will be a *Ibis White 2.0TFSI Audi TT Black Edition S-Tronic* with the specs I listed, so excited!

One thing they said to me is, to get that discount, I would need to take a finance agreement out with Audi, if not then I have to add £2000 extra on top.. :?

DTD is currently speaking to dealers for me at moment, getting all the timings, pricing etc.

From my understanding after doing some research on here.. all I need to do is get the finance deal sorted, cancel within 14days of it being set up and then ask for a settlement figure within 30days and I will just pay interest for those days when I was tied into the finance and not the entire 3 years. I will also still get the 2000 discount applied.


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## Lrihk (Jan 13, 2014)

Right, I just had my finance plan given to me over the phone by DTD and need help figuring this out..

The details of the finance plan given over the phone is as follows :

Duration: 35months 
35 monthly payments of: £210.69 
Customer deposit: £6605.32
Final payment: £16.173.75

Total: £30,153.22

Plus they need me to pay £1300 deposit to proceed with all this.

Now my question is.. the car on DTD was quoted at about *£26,600*.

It seems like a huge difference in price looking at the final total.

Is DTD and the dealers pulling a fast one here?

If I proceed, my car arrives in May, I cancel my finance plan within 14 days of receiving my car and then ask for a settlement figure and paying it off within 30days, will this still total up to that much?

I've never taken finance out for a car due to not wanting to owe money to the garage and also the interest rates, so all this really baffles me..

Help will be greatly appreciated.

Thanks!
P


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## Lrihk (Jan 13, 2014)

Just an update, spoke to the dealers finally and they have cleared the breakdown of the pricing! 

_"DTD show the price of the car including the Audi deposit contribution, we have to show the £2000 contribution as part of the deposit. So, the total deposit shown is £8605.32 but you will pay £6605.32. You have already paid a deposit of £1300 so the outstanding amount is £5305.32.

The first instalment will come out of your bank a month after you take delivery of your car.

You will get 7 days free insurance, once your car has arrived on site this will be explained to you how you get this.

Mats come as standard with the car.

Your car is due to be built in week 12 which is week commencing 17th March. I would anticipate delivery to you mid April. We offer driven delivery within England."_

So excited, can't wait!

Am I correct in saying that the finance *cannot* start unless I have signed (placed my signature) on the agreement papers? Don't want my 14day cooling period window to start today and when my car arrives, cooling period has passed and when it comes to me cancelling, they will bill me for the entire 3 years worth of interest..


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## MrDrums (Jan 2, 2014)

Lrihk said:


> Just an update, spoke to the dealers finally and they have cleared the breakdown of the pricing!
> 
> _"DTD show the price of the car including the Audi deposit contribution, we have to show the £2000 contribution as part of the deposit. So, the total deposit shown is £8605.32 but you will pay £6605.32. You have already paid a deposit of £1300 so the outstanding amount is £5305.32.
> 
> ...


I'm surprised you went ahead with this on the basis of planning to cancel the finance without confirmation you can do it. Big Cojones. Big interest payments.


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## Lrihk (Jan 13, 2014)

MrDrums said:


> I'm surprised you went ahead with this on the basis of planning to cancel the finance without confirmation you can do it. Big Cojones. Big interest payments.


I guess I'm missing something here? Or you haven't come across the 14day cooling off period etc..?

Both companies DTD and Broadspeed are the ones who suggested to go down this route of finance because of the £2k contribution from Audi, otherwise I'd have to pay £28k instead of £26k.

I was quite sceptical at first with this, but a helpful chap from Broadspeed sent links to reassure me.

Also I did research online about this:

http://www.a5oc.com/forums/a5-s5-topics ... early.html

http://www.a5oc.com/forums/a5-s5-topics ... d-new.html

http://www.a5oc.com/forums/a5-s5-topics ... early.html

http://www.a5oc.com/forums/new-users-ca ... stion.html

Once the finance agreement has been signed I will have 14 day cooling period to terminate my Audi Finance Agreement with a phone call and then after this, I need to contact Audi Finance for a settlement figure and will only be charged interest as well as fees for the days I have been on the plan for.

Now, my original question is..

Am I correct in saying that the finance agreement cannot start unless I have signed (placed my signature) on the agreement paper and they cannot authorise this before I receive my car in April?


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## MrDrums (Jan 2, 2014)

Lrihk said:


> MrDrums said:
> 
> 
> > I'm surprised you went ahead with this on the basis of planning to cancel the finance without confirmation you can do it. Big Cojones. Big interest payments.
> ...


Well, I work in finance myself. Now I haven't read through those topics but I would be careful when looking at your 14 day cooling off period. Make sure the small print says 'withdraw' from the agreement, rather than 'settle' as you would then need to pay any interest.

From experience, any benefit/incentive that is provided as per a financial transaction becomes void should the customer withdraw from the agreement, unless Audi have their contracts written incorrectly.

Look at it from Audi's prospective. They are giving you X deposit as you are using a financial service, they are also giving you X discount on the car. Should they really have to pay out an extra £3k for you to just go and cancel the agreement, they could do the same.

Usuaully with PCP there are admin fee's and such, make sure these are also refundable as well.

If this is all true, I take my hat off to the guys who have pulled it off. They have found themselves a loop hole which I'm sure Audi will soon enough clock on to.

Either way, enjoy the car when you get it! :lol:


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## Lrihk (Jan 13, 2014)

MrDrums said:


> Well, I work in finance myself. Now I haven't read through those topics but I would be careful when looking at your 14 day cooling off period. Make sure the small print says 'withdraw' from the agreement, rather than 'settle' as you would then need to pay any interest.
> 
> From experience, any benefit/incentive that is provided as per a financial transaction becomes void should the customer withdraw from the agreement, unless Audi have their contracts written incorrectly.
> 
> ...


Thanks for your feedback where everyone else seems quite lol.. 

Since you work in finance, I'm hoping if you could answer my question.. the finance agreement cannot start unless I have signed (placed my signature) on the agreement paper and they cannot authorise this before I receive my car in April?

I ask this because they requested some details from me already, but I haven't signed anything yet.


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## MrDrums (Jan 2, 2014)

Lrihk said:


> MrDrums said:
> 
> 
> > Well, I work in finance myself. Now I haven't read through those topics but I would be careful when looking at your 14 day cooling off period. Make sure the small print says 'withdraw' from the agreement, rather than 'settle' as you would then need to pay any interest.
> ...


I think it's hard to give someone advice on something that could potentially cost you a couple grand.

To answer your question, you are correct. They cannot start the agreement until you have signed the loan agreement and have received your pre-contract information. They need your details to be able to prepare the loan agreement for you. Common sense prevailing, I doubt you'll have to sign the agreement until you see the car or at least once it's been delivered to the dealer.


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## Lrihk (Jan 13, 2014)

MrDrums said:


> I think it's hard to give someone advice on something that could potentially cost you a couple grand.
> 
> To answer your question, you are correct. They cannot start the agreement until you have signed the loan agreement and have received your pre-contract information. They need your details to be able to prepare the loan agreement for you. Common sense prevailing, I doubt you'll have to sign the agreement until you see the car or at least once it's been delivered to the dealer.


Thanks! And yes it is common sense, but since this is my first finance plan I have no idea of what the procedures are.. I normally buy cars out right.

I think I found my answer here upon closer inspection:

http://www.a5oc.com/forums/a5-s5-topics ... post303100

Anyways, will update on the progress and see if I keep the discount after cancelling etc!


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## Lrihk (Jan 13, 2014)

Just would like to confirm that I withdrawn from my finance early and had to pay only £20 worth of interest and still kept the dealer discount they offered me so it really does work!


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