Author Topic: Finance so poor  (Read 544 times)

Offline Cardy

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Finance so poor
« on: 19 January 2019, 11:20 »
Looking into pcp finance deals the CSS has such a poor residual compared to day the Audi rs3 why is such a limited car so poor on finance ?

Rs3 £30k 6k miles a year over 48 months £387pm CSS is £505pm GFv is so poor on golf

Online kmpowell

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Re: Finance so poor
« Reply #1 on: 19 January 2019, 11:44 »
Looking into pcp finance deals the CSS has such a poor residual compared to day the Audi rs3 why is such a limited car so poor on finance ?

Rs3 £30k 6k miles a year over 48 months £387pm CSS is £505pm GFv is so poor on golf
It's not that the residual is so poor, the finance RV's haven't really moved much from launch. It's the inflated CSS/ED40 screen prices that makes the amount being financed over the term so high.

The screen values are artificially inflated to try and manipulate the market, they lull people into thinking the car is residually strong when in reality the 'trade' depreciation in the background is occuring like any other car, as your finance example shows. Getting good money for a car when it comes to selling is limited to a private sale punt and/or getting a specialist to buy it, else you'll just get book price, which 9 times out of ten is roughly in line with the RV's.
« Last Edit: 19 January 2019, 12:07 by kmpowell »
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Offline Exonian

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Re: Finance so poor
« Reply #2 on: 19 January 2019, 23:10 »
Considering CSS owners were smugly declaring what nice profits they were turning in on their investments a couple years ago maybe a few of them ended up with egg on their faces? Or maybe the finance companies have it badly wrong.

Either way, used car PCP’s are pretty expensive and you can get personal loans for under 3% APR and actually own the car’s title.
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Offline Cardy

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Re: Finance so poor
« Reply #3 on: 20 January 2019, 15:10 »
Yes Halifax do a loan at 3% up to 25k which means putting 5-8k into it from my pocket

Offline mcmaddy

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Re: Finance so poor
« Reply #4 on: 20 January 2019, 15:21 »
Only issue with private finance is not everyone gets the advertised rates so Halifax saying 3% doesn't necessarily mean you'll actually get it.
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