Audi Personal Contract Purchase (or PCP) has become one of the best and most affordable ways of purchasing your Audi. Not too many people know how they work but they are seriously simple contracts when you actually look at them, making the time between you finding your new or used Audi and driving it away, short and hassle free.
PCP in a nutshell
- WE WILL BEAT ANY DEALER QUOTE, GUARANTEED
- FLEXIBILITY – different mileage terms / contract periods / cars /deposits
- FIXED – monthly payments / interest rates
- OPTIONS – lender buys the car back / you buy it / you sell it / you part ex it
- NEW or USED – our Audi PCP can be applied to new or used cars upto 3.5 years old / 60,000 miles
- POSITIVE CONTRACT – there’s no risk of you being in negative equity with the Guaranteed Future Value (GFV) provided. See below for details.
- INSURANCE – we have affordable gap insurance and tyre insurance
How does Audi PCP work?
The best thing about any PCP contract is the flexibility! You tell us what budget you have or if you have a specific Audi in mind and we’ll find the deal for you. We can adapt the contract to your specific needs so you can choose how much or how little you pay per month. Factors such as deposit amount, mileage, contract duration are all variables that you can use to mould the Audi PCP contract you are looking for, providing you with fixed cost motoring month-in-month-out.
Why is Audi PCP such a popular way of purchasing an Audi?
The beauty of this type of contract is that it reduces your monthly payments quite considerably over the other payment plans due to the way that the contract ends. Before you sign any PCP contract you agree a guaranteed future value (GFV) for the car that the lender will buy it back from you at. At this point, your deposit and the GFV are taken off the value of the car and what is left is spread over the term of your choice. So in essence you are only getting finance based on the depreciation of the car for the period you have the car.
Can the Audi PCP contract be applied to Used Cars?
Yes it can! UK Car Finance offer the ability to finance second hand cars provided they are bought through a franchised dealer. Sorry, no private purchases allowed. The second stipulation is that the car does not have more than 60,000 miles on the clock. And lastly, we will not provide PCP finance for cars older than 3.5 years. So if your car were 1.5 years old, we would provide you with a maximum of 24 months finance.
How can I get maximum car for the lowest monthly repayments?
The beauty of Audi’s is that they hold their value well so whichever car you get the residual value will be higher than other cars out there on the market. This means that your GFV figure will be higher and your monthly repayments kept low.
There are other things you can do if circumstances allow such as
- Increasing your deposit
- Being accurate with your mileage. Be careful with this one though as too much and you’re paying for what you don’t use but if too little then you will pay excess mileage, which is expensive.
- Lastly, if you get your Audi PCP contract over 48 months as opposed to a shorter period, you will pay less in monthly installments. The longer the term, the lower the depreciation rate basically.
What happens at the end of the agreed period?
The beauty at the end of any Audi PCP contract is that you have options!!
- If you wish to hand the car back to the lender in decent condition, having not exceeded the mileage allowance, then you can simply end the contract with nothing to pay.
- If you would prefer to keep the car then all you need to do is pay or refinance the GFV to the lender.
- If you’d like to take out a new contract out then provided the value of the new car is more than the one you are trading in, then a part exchange is welcome at a franchised dealer only.
- You even have the option to try and sell the car privately and if you get more for it than the GFV then you get to keep the rest.
So that’s the run down. If you’re looking for anything from an A1, A3, A4, A5, S5, A6, S6, A7, Q5, Q7, A8, S8 in ANY different variant then the Audi PCP is for you, CALL US FOR BEST DEALS.