Capital Car Finance Has Some Of The Best Used Audi Car Finance Deals In The UK for PCP & Lease Purchase
We Have Access To Several Car Finance Providers, Enabling Us To Offer Some Of The Most Competitive Rates In The UK
We pride ourselves on our transparent “one to one” professional approach, which is why most of our customers come back to us time and time again, please see our testimonials for additional comfort. We can provide car finance for all Audi vehicles up to 5 years old, providing they are supplied by an approved UK supplying dealer, we have deals available for both business customers or private customers.
Please find details below on all our available new and used Audi car finance products, alternatively why not give us a call to discuss the various options with one of our dedicated experienced advisers, you can call us directly on 01925 589020 or free on 0800 043 4340.
Personal Contract Purchase
One of the best ways to purchase a new or used car today, it allows customers to purchase a car of their choice at attractive fixed monthly finance payment, with the benefit of a low deposit outlay and a guaranteed minimum future value at the end of the agreement.
Sometimes referred to as Hire Purchase with a balloon and is structured in a similar way PCP, however unlike PCP there is no guarantee offered at the end of the agreement, customer can defer a capital lump sum amount until the end of the agreement.
Very similar to borrowing a sum of money from a bank and paying it back over a fixed period of time, with interest. Hire Purchase is a type of secured loan which are often preferred over alternative (unsecured) loans because they allow a greater borrowing limit.
Audi PCP car finance
How does it work
At Capital Car Finance we have the ability to offer our customers a very low rate of interest (From just 4.9% APR) together with industry leading GMFV’s making Audi cars very affordable.
Audi PCP Car Finance is very useful if you drive a company car and are opting out of a company car scheme for example (Cash for Car), because you can use your company car allowance or mileage reclaims to fund your monthly PCP payments and avoid paying excessive company car taxes.
Monthly payments are fixed with PCP for the repayment period, which is normally two, three or four years and the added flexibility of PCP car finance gives you several options at the end of the agreement:
PCP – Option 1
Return the vehicle to the finance company and if you have not exceeded the agreed mileage, there is nothing more to pay.
PCP – Option 2
You may keep the vehicle and simply pay off or refinance the outstanding Guaranteed Minimum Future Value [GMFV] payment.
PCP – Option 3
You can part-exchange your vehicle and if the trade-in value is greater than the GMFV, the difference is yours to keep.
Benefits of Personal Contract Purchase
- Lower deposits available.
- Flexible term.
- Fixed repayments.
- Guaranteed final payment.
- Low monthly payments.
- Opportunity of available equity.
The Audi personal contract purchase plan provides the benefits of driving a higher specification Audi for lower monthly payments, unlike traditional methods of car finance, this is achieved by deferring a percentage of the total cost of the Audi to the end of the contract, which is the guaranteed minimum future value or GMFV as its more commonly known as.
This guaranteed minimum future value (GMFV) and is the key difference between PCP and traditional forms of car financing such as Hire Purchase. The GMFV plus your deposit is subtracted from the selling price of the Audi and your monthly payments are based on the balance (plus interest on the balance and the GMFV). Effectively, you will make lower payments than traditional financing simply because you are essentially only funding the depreciation.
At the beginning of the agreement, you decide on the total mileage you expect to do. If, at the end of the agreement, having chosen to hand your Audi back to the finance company, your mileage exceeds the agreed level, you simply pay a fixed amount for every extra mile.
Wear & Tear
It is in your interest to minimise your Audi’s ‘wear and tear’ and not exceed the agreed mileage. When the agreement has finished, the vehicle may well be worth more than the GMFV, providing you with extra value, In simple terms ‘normal wear and tear’ means that for its age and mileage, the Audi is in fair working order, condition and repair.
Benefits of Lease Purchase
- Lower deposits available.
- Flexible Term.
- Cost effective rentals due to residual values.
- No tie to mileage contract.
- No lock in and settlement can be made at any stage of the agreement.
Lease Purchase is sometimes referred to as Hire Purchase with a balloon and is structured in a similar way to Personal Contract Purchase or PCP car finance.
The customer will normally benefit from a slightly lower finance rate with an Audi lease purchase car finance product as there is no guarantee offered at the end of the contract, the deferred lump sum amount at the end of the agreement is known as the Residual Value (RV) or balloon, and this has to be paid by the customer for outright ownership of the vehicle. Deposits for Lease Purchase are flexible, normally aminimum of 10% and a maximum of 40% of the total vehicle price, repayment periods are taken over 3 or 4 years typically.
The Residual Value (RV) (sometimes called the balloon) at the end of the agreement reduces the regular monthly payments accordingly, thus making vehicles that traditionally have a strong Residual Value (RV) like Audi, more suitable for this type of product as they make repayments far more affordable.
The Residual Values (RV) is calculated and set at the beginning of the lease purchase finance agreement but is not payable until the end of the contract, there are realistically two options for an Audi lease purchase at the end of the term, 1. Pay off the residual value in cash or settlement by part-exchange or 2. Some lenders will allow the residual value to be spread over a secondary period and refinanced again.
Call us now on 01925 589020 for your quote with our latest rate and offers and see how much we can save you!
Call us on 01925 589020 for our latest rates & offers and see how much more we can save you!