# Finance deals on Mk3



## Jem (Apr 15, 2011)

Judging by the numerous posts there's s deals to be had on new TT's, including the TTS. But I was wondering from those who have purchased a new car on finance whether there's been any maneuverability on the finance deals offered by the dealership?

Currently they seem to be looking for ~7.3% APR.


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## Jem (Apr 15, 2011)

Anyone?


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## Templar (Mar 9, 2012)

4.9 I've been offered...possibly get it down to 4 - 4.5..no more if I were to be interested. Ring up a few dealers and ask how much their finance is on a new car...don't mention what particular model you're looking at once they pass you over to sales :wink:

There are Audi open days going around at the moment if you enquire...The mk3 is not selling as well as expected..fact !


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## LEO-RS (Apr 13, 2009)

I thought the interest rates were standardised dependent on model and any negotiation between yourself and the dealership is done on the cost of the vehicle and not the APR figure?

Can't see Audi offering 4.9% on a TT personally. Those rates are normally reserved for the higher end Audi's. What dealership offered you 4.9% on a new TT? Did you get discount off the car too?


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## Templar (Mar 9, 2012)

To tell a story I wanted a lower APR on a used, currently 11.9% which I said was ridiculous. ..already negotiated already favourable price on my existing car and after some homework found Audi were offering 4.9%...dealer said it was on new models only not used approved. To pick the bones out of it by a simple phone call I could have 4.9% on several new cars Inc the TT but minimal discount of only 1k off. After attending a 'valued customer only ' event I could have had 4.5% finance on a new TT if I were to sign up for finance..plus a free first service. Personally I don't think the mk3 is up to speed yet but not going into that here (been told off for repeatedly airing my views, sorry).
In a nutshell there are discounts of at least 1k off and if you're willing to play the game finance of 4.5%. This was the options available to me as of week 3-4 of Feb finance wise. 1k discounts are easily available, hopefully more.


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## Jem (Apr 15, 2011)

So safe to say that the APR on the website is by no means gospel and that more favourable rates can be achieved through further negotiation... on top of a discount on the car.

One more question... do you charge by the hour? :mrgreen: :wink:


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## Templar (Mar 9, 2012)

Jem said:


> So safe to say that the APR on the website is by no means gospel and that more favourable rates can be achieved through further negotiation... on top of a discount on the car.
> 
> One more question... do you charge by the hour? :mrgreen: :wink:


Haha, you may have to shop/phone around initially and print off some online broker quotes to start with for your chosen car (carwow, broadspeed, orangewheels ect) this will give you your starting point with the price of the car. Dealers will price match but some will play their face and say they can't. Lucky for us the mk3 TT hasn't selling as well as expected so reasonable discounts around for such a new model. For example the A1 which I looked into last year for the wife I was lucky if could get 500 off because demand was higher than the supply.
It's worth considering your timing too, certain times of the year can yield better finance packages and discounts. October /November is usually a good time. The exception here was the release of the mk3 towards the end of last year, this sort of proves that it's a weak time of year in car sales and Audi possibly thought after all the hype with the mk3 they'd have a strong year end order book. Anyway enough of that. 
So, do your homework, ask questions and be persistent. Dealer offers vary from branch to branch so shop around, keep a note of names and offers to use to negotiate between dealers and don't ignore dealers the other side of the country either. Timing, month end, quarter, financial year end and year end can yield results. Your local dealer might of had a good quarter say but Cardiff Audi might have done poorly. 
Can be fun but be informed and make notes :wink:


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## lofty (Apr 3, 2007)

Low demand is a double edged sword, yes its good for higher discounts and shorter lead times but bad for residuals. I remember the early MKII buyers selling cars for list after 6 months and getting another brand new one, and that was with discounts being scarce. The 6/7/8 month waiting list was a pain in one respect but the high demand kept prices strong, which is the case of the A1. With its initial high list price, lower than expected sales and publicised teething problems I can't see prices staying as strong as they have done on previous TT's


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## Templar (Mar 9, 2012)

Very true indeed and being reliably informed Audi actually slow the supply of some of models purposely to keep prices High, both to stock and ordered vehicles. Audi capitalise on this to maximise profits and why not it is a business after all not a public service provider. 
I do believe Audi is struggling a bit with the mk3 though. The potential profits by using the MQB multi platform chassis goes without saying really but the rather disappointing mk3 along with it's high asking price, technology problems and build quality issues must be hitting Audi quite hard at the moment and might be difficult to pull back from short term.


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## Jem (Apr 15, 2011)

What would be the benefit of going through the main dealer vs a broker? Also with a broker, who is actually supplying you the vehicle?

One major benefit with the broker is the cooling off period to enable you to decide whether you want to keep the car (or so I've read here). This could have been particularly valuable in a recent case here.


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## Shug750S (Feb 6, 2012)

Jem said:


> What would be the benefit of going through the main dealer vs a broker? Also with a broker, who is actually supplying you the vehicle?
> 
> One major benefit with the broker is the cooling off period to enable you to decide whether you want to keep the car (or so I've read here). This could have been particularly valuable in a recent case here.


Broker basically works as a middle man and your car will come from another main Audi dealer, could be the other side of the country but still a legit UK car with warranty etc. Not sure you get a cooling off period though as would the supplying dealer really want the car back any more than your local one?

Downside is you won't have any goodwill from your local dealer if you have a problem out of warranty (may not get any even if you buy from them, but sometimes if you buy and service there they will take a view on it).

I've got quotes from Broadspeed a couple of times in the past and local dealers have either matched the price or got close and offered servicing incentives to try and do the deal. All depends if they think you will walk away if they don't and if they need your business.


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## Templar (Mar 9, 2012)

Carwow for instance, you spec the car you are interested in very similar to the way you would in a dealers. They then submit your request to participating main dealers for tender, usually with within 2 -24 hours you get 2 prices from up to six dealers. You get a cash price and a finance price. When I say finance price it means a finance contribution. 
When I spec'd up my S4 black edition back in November 2013 I was having offers of up to 13% off (bigger discounts available now as the model will shortly be phased out)
Even the limited edition mk2 TTS of 500 units of each of the roadster and coupe came back with healthy discounts whereas my local dealer was harping on saying that I'd have no chance of a discount on one of those.
Anyway, what I would suggest is to print off your best offers and if your local dealer hasn't entered into 'a bid for your business ' it would still be worthwhile going to see them in person with your quotes to see if they'll price match. Nothing lost if they won't because you can purchase from the dealer who quoted best. :wink: 
You would still be picking your car up from the main dealer as you would if you bought direct. The only difference being is the initial contact would be through the broker (some brokers even give you shopping vouchers if you've purchased via lead through them)

Most brokers I've looked at operate in a similar way and you pick your car up from the official main dealer or have it delivered free.

I generally use the brokers as a bargaining tool and give my local dealers the opportunity to do the deal at the same price.

One other thing, never ever pay the agreement fee, I never have. It will still show on the paperwork but I never pay it, the dealer will pay you with either a free service or money off the car. I wait till I'm about to sign and turn round and say 'I'm not paying the agreement fee' the salesman will usually waffle on and pull his face saying he can't remove it etc etc but come back with 'well if to consider this a deal breaker that's fine by me, I will walk away' . Works every time even with finance on a used car.

Something to think about :wink:


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## Templar (Mar 9, 2012)

Shug750S said:


> Jem said:
> 
> 
> > What would be the benefit of going through the main dealer vs a broker? Also with a broker, who is actually supplying you the vehicle?
> ...


As I've stated above, I always give my local dealer the option to price match. They have a really good service team and pick up and drop off my car at work...so minimal inconvenience to me and minimal mileage added to my car.
But.... If they didn't want to price match I'd have no hesitation in purchasing from further afield. Can still get my car serviced at my local dealers. 3 years warranty I'm not too concerned with the goodwill side of it really, my last 4 Audis have been looked after by them Inc approved used and they've always been good whether I bought from them or not.


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## tonymar (Jun 1, 2013)

you are right about the agreement/admin fee there is no legal requirement for you to pay it if you dont want to
i have been looking into buying mk 3 you can get discounts of 2k on 35k car
personally after reading some of the posts with teething problems im inclined to wait until problems resolved and bigger discounts will be available


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## Mr R (Mar 1, 2015)

5 dealers got back to me this week on CarWow.

£1,560 was the maximum discount (3 of them quoted this), and the following was stated for finance:

_Audi is currently presenting the following finance offers on a new TT, these offers apply across all official Audi dealers:
Audi Finance is currently offering 7.3% APR on PCP.
This offer is valid between 1st January and 31st March 2015. Prices are based on current manufacturer offers which may be subject to change. Please contact the dealer for any terms and conditions that may apply._


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## Jem (Apr 15, 2011)

Let me guess - 4.3% saving?

Yes the APR is also what I'm getting back from CarWow.


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## Templar (Mar 9, 2012)

Due to the finance not coming from carwow I guess they can only advertise what Audi have given them.

Have played around with any other manufacturers. .VW were offering good discounts on the Golf R for example.

Just for information, differing times of the year can give better discounts.


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## Mr R (Mar 1, 2015)

Jem said:


> Let me guess - 4.3% saving?
> 
> Yes the APR is also what I'm getting back from CarWow.


I modified the car slightly (changed Glacier white to Ibis white and dropped the Sat Nav)... the discount dropped a bit, but worked out at about 4.2% saving!

When you search for the TT on CarWow it says... an average saving of £2100...

You think this is as good as we're gonna get just now?


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## Mr R (Mar 1, 2015)

CarWow have just come in with a 5.2% discount on a TDI S Line... as well as Audi now offering 7.00% APR... this is getting very very tempting.


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## bash (Feb 15, 2015)

hi suggest you also try autoebid as well as a guide i did this and then went to local dealer who gave me about 5.5% doscount on sline stronic with teck pack...so happy with that.

They were also lower than carwow deals!


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## tt3600 (Apr 8, 2006)

Do they take your old car off your hands??


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## Mr R (Mar 1, 2015)

bash said:


> hi suggest you also try autoebid as well as a guide i did this and then went to local dealer who gave me about 5.5% doscount on sline stronic with teck pack...so happy with that.
> 
> They were also lower than carwow deals!


Yes, had a look at them also, cheers. I think they charge a £600 fee, so need to take that into account.


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## Arbalest (Feb 27, 2015)

Strange how audi dealerships differ in their approach to discounts. A couple of weeks ago I was ready to place an order for a new TT (otr just over £35k) yet my local audi dealer was unwilling to discuss any meaningful discount despite my mentioning the sort of discounts I had seen available on autoebid, drivethedeal etc. They seemed more interested in selling me the paintwork protection treatment and GAP insurance for another £1200. So I walked after the best they could offer me was a discount of 1.3%.

With all the subsequent gremlins that have come to light I'm relieved that I didn't go ahead and will now give it several months minimum before even considering placing an order.


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## tonymar (Jun 1, 2013)

personal loans now cheapest for over 2 yrs 3.6 % if borrowing over 7.5 k


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## Jem (Apr 15, 2011)

You could get a personal loan but would you want to buy the car outright?

Or I suppose you could use a leasing company.


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## tt3600 (Apr 8, 2006)

Jem said:


> You could get a personal loan but would you want to buy the car outright?
> 
> Or I suppose you could use a leasing company.


l bought outright to save thousands on finance.

If someone on here can prove it's cheaper to finance or lease then i'm all ears!


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## Jem (Apr 15, 2011)

I don't disagree, which is why I've always purchased outright and that can work very well for smaller amounts of cash. But how many people have £30k-£40k lying around which they would be happy to lock into a depreciating metal box?


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## Shug750S (Feb 6, 2012)

tt3600 said:


> Jem said:
> 
> 
> > You could get a personal loan but would you want to buy the car outright?
> ...


The only way to get it cheaper through finance is if you can get the finance contribution or servicing deal as part of the package and then pay off the finance a few weeks into the deal with no penalties.

We did that with my daughters Ford, got about £750 extra discount for taking the finance and the dealer gave us the number to call which had to be after the first payment was made. There was a £20 admin fee and they deducted the payment already made off the finance. Paid over the phone with debit card and ended up over £700 up on the deal.

Pretty certain some have done similar on here with Audi finance


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## Arbalest (Feb 27, 2015)

Shug750S said:


> tt3600 said:
> 
> 
> > Jem said:
> ...


That's interesting; are you saying that a 'cash' buyer might actually get a better overall discount from a dealer if a finance deal is taken? Is this because the dealer gets a commission for arranging the finance ? If so does the dealer not have the commission clawed back if the loan is then paid off just a few weeks later ? Can't quite understand how this all hangs together. Any guidance much appreciated.


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## Jem (Apr 15, 2011)

Shug750S said:


> tt3600 said:
> 
> 
> > Jem said:
> ...


But when you paid off the finance to pocket £700, did you pay £35k back?

In most cases, a cash purchase on this kind of sums is not feasable.


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## Shug750S (Feb 6, 2012)

Jem said:


> l bought outright to save thousands on finance.
> 
> If someone on here can prove it's cheaper to finance or lease then i'm all ears!


The only way to get it cheaper through finance is if you can get the finance contribution or servicing deal as part of the package and then pay off the finance a few weeks into the deal with no penalties.

We did that with my daughters Ford, got about £750 extra discount for taking the finance and the dealer gave us the number to call which had to be after the first payment was made. There was a £20 admin fee and they deducted the payment already made off the finance. Paid over the phone with debit card and ended up over £700 up on the deal.

Pretty certain some have done similar on here with Audi finance[/quote]

But when you paid off the finance to pocket £700, did you pay £35k back?

In most cases, a cash purchase on this kind of sums is not feasable.[/quote]

Nope, it was a small Ford so less than £10k, but she had the cash so made sense.

I would do then same next time I buy a new car, all depends if you were a cash buyer in the first place ... Which was the question I was responding to


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## Shug750S (Feb 6, 2012)

Arbalest said:


> The only way to get it cheaper through finance is if you can get the finance contribution or servicing deal as part of the package and then pay off the finance a few weeks into the deal with no penalties.
> 
> We did that with my daughters Ford, got about £750 extra discount for taking the finance and the dealer gave us the number to call which had to be after the first payment was made. There was a £20 admin fee and they deducted the payment already made off the finance. Paid over the phone with debit card and ended up over £700 up on the deal.
> 
> Pretty certain some have done similar on here with Audi finance


That's interesting; are you saying that a 'cash' buyer might actually get a better overall discount from a dealer if a finance deal is taken? Is this because the dealer gets a commission for arranging the finance ? If so does the dealer not have the commission clawed back if the loan is then paid off just a few weeks later ? Can't quite understand how this all hangs together. Any guidance much appreciated.[/quote]

I have no idea but know it can be done. Presume dealer gets some commission on the deal but subsequent arrangements are between you and the finance part of Ford / Audi / whoever


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## Templar (Mar 9, 2012)

Well when I ordered my S4 black edition back in November 2013 I was offered £2000 finance contribution. Car was ready for Xmas but didn't want it till 3rd Jan. Total discount I got back then was 12% and 2k Audi finance contribution. Heard recently there's very big discounts available on the A4,S4 A5, S5 etc which is to be run out end of 2015. The new 'S' models will no doubt be sometime after launch of the A4/5 as per normal.
From previous experience November is generally a good time to negotiate on a new car due to low sales.


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## blaird03 (Nov 9, 2013)

Templar said:


> Well when I ordered my S4 black edition back in November 2013 I was offered £2000 finance contribution. Car was ready for Xmas but didn't want it till 3rd Jan. Total discount I got back then was 12% and 2k Audi finance contribution. Heard recently there's very big discounts available on the A4,S4 A5, S5 etc which is to be run out end of 2015. The new 'S' models will no doubt be sometime after launch of the A4/5 as per normal.
> From previous experience November is generally a good time to negotiate on a new car due to low sales.


agreed that November is a good 'deal' month, I got circa 15% off MK2 TT (including the £2k Audi finance contribution).


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## tt3600 (Apr 8, 2006)

Templar said:


> Well when I ordered my S4 black edition back in November 2013 I was offered £2000 finance contribution.


Good tip, so i'll just mention finance contribution in future and see what l can get off in addition


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## Jem (Apr 15, 2011)

2nd quarter is also a good time due to being year end. But ultimately it all depends on whether sale targets have been met.


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