VW Solutions PCP APR increase

[Ceefeesh]

I was in an Audi dealer last week. Considering financing a small part of the purchase price, their HP rate was 9.9% and this week it was anticipated that it would rise to 12.9%. That was their optimistic sales pitch. It was an easy refusal but a sign of things to come for those financing cars. On the plus side the kind salesman, who successfully sold my wife a car, took me for a quick demo in a RS3. Wow! If I could only justify it!

[evo1986]

Helping a family member buy their first new car. They've gone for a Nissan Qashqai and I was surprised to see their still offering 5.99% on new PCP's. Thought it would have been hiked up by now following suit with other manufacturers

What about leasing one instead…..

[Adam T7]

Every new car I’ve purchased since 1999 I’ve used Asset Finance through my Bank. Like HP but with an agreed balloon payment at the end of the contract. At that point you pay it off or trade it in and use the car residual to settle the ballon and leave a deposit for the new. Last 3 cars I’ve bought I’ve paid off and kept (including the GTI). When I didn’t keep the car, never had an issue with using the residual to clear the balloon and decent deposit for a new car (including mid contract change and selling a car to a private buyer On two occasions)
Means I’m never tied to a brand or bother about pence per mile etc. and the APR last time I used it 4 years ago was 3.3%.