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Hello all,
New to the forum so I do apologise if this is meant to be posted elsewhere.
Looking to purchase a Q3 in the next few days and wanted to check to see what you thought of what I have been offered and if I need the GAP, Cosmetic Smart Cover and 3YR tire protection that they are trying to sell me totalling £1200.
Car value is £33,375+ the three above items = £34,472
Deposit (Equity in current vehicle) - £10,300 + £2,250 deposit contribution
270pm with a balloon payment of £15,951 after 36 months.
This will be the first PCP I have ever done. I think I will probably purchase the vehicle at the end as it is for my Mum so will probably be one of her last vehicles she buys for a while...
Any thoughts of suggestions if I can save any money or if anything sounds too expensive would be greatly appreciated. Really like the car so hopefully I can make the finances work and not be abused!
Thanks in advance,
J
 

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Have you showed around or used drivethedeal.com?

That monthly payment send too high to me, you're paying £10,000 deposit plus another £10,000 in monthly payments, then a balloon payment of £15,000. What interest rate did they offer you?

I reckon you could get the monthly payment much much lower if you push the dealer hard.

For context, I once bought an Audi S3 for £28,000 on PCP. Paid £1,500 deposit then a monthly payment of £360.
 

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- GAP insurance you can get cheaper if you shop around than what AUDI offer.- Cosmetic Smart Cover - what the heck is that? Is this paint protection? If it is then not worth it, call a professional detailer and get a new car protection quote from him, will be about half the price for a much better job- Tyre protection - again if you shop around you can get it cheaper, but in all honesty whether you take it out or not is up to you, personally I didn't bother.
I would consider though looking at some of the servicing packages if you intend keeping the car for a few years as they can save you money, but you can only purchase them when the car is brand new. Would suggest you get prices from the dealership for minor and major service and then decide if good for you. Also talk to the dealer about setting up your service intervals on your car, if you do less than 10K miles/pa then you need fixed annual services, if you do over 10K/pa then you can leave on variable services. Audi will default to variable unless you ask them to adjust it.
Regards PCP, Audi rates are not at all cheap, I took out a personal loan with Marks and Spencer for my car, interest rate was a lot lower than what Audi offered and I saved pounds (Audi were not interested in matching). Effectively paying the balance in cash also gave me a bit better negotiating power on the price.
 

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As Hawkeye says, don't ever get any of those value-added items from the dealer. You definitely don't need Cosmetic Smart Cover, GAP is horribly expensive from the dealer and you normally find it is included in your insurance policy for at least the first year. Tyre cover is normally priced so high that it's cheaper to buy tyres as & when you need 'em. For information, I changed my tyres at 33,000 miles and still had plenty of tread left on them, implying that the Q3 is pretty good on tyres.

There's only one party that benefits from any of the value-added items pushed by the dealer - the dealer.
 

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All the dealers try to add stuff into the deal to increase profit margin, they try really hard and make a fuss and insist that you sign forms to opt out of GAP and the other bits. You could feel a sense of making a poor decision, somehow guilty - well don't it's the least likeable bit of collecting a new vehicle and detracts from what is otherwise a fairly enjoyable experience.
 

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You seem to be paying approx. 6% interest rate. The likes of Halifax charges something like 4.3% on PCPwhich by my rough calculations will save £1,000. Halifax, and presumably Audi, also offer traditional HP withhigher monthly paymentsbutwill be cheaper overall if you want to own the car at the end of the term.You can check the Halifax figures on their website - you don't have to be a customer.One thing -the deposit contributionmay only apply to Audi's PCP, not sure about Halifax and similar.With my recent Q3 purchase, I could pay upfront but had to take out PCP to get the contribution. But you can cancel within 14 days without penalty,pay the whole amount and still retain the contribution.
 

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I know this may be a bit late but have you gone down the Carwow route to reduce the price in the first place? Check your car insurance re cover as you may have 12 months cover to start with and be able to reduce the period of Gap insurance.

I have had all sorts of discussions over pcp re hp and still believe, ife you are keepingthe car, thst ho is better - get it from a bank as rates are relatively low if you shop round at the moment.
 
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