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Author Topic: VW Finance APR  (Read 805 times)

Offline George

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VW Finance APR
« on: May 03, 2013, 01:08:12 pm »
A friend of mine is looking to buy a approved used MK6 Golf 1.4. The local dealer has one for £12k and the salesman sent him a finance proposal which states 13% APR. I'm not up to speed with current APR rates but this seems very high, especially as VW are offering 6% on some new cars.

What should the rate be?

Thanks  :happy2:
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Offline andrewparker

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Re: VW Finance APR
« Reply #1 on: May 03, 2013, 01:10:51 pm »
Well the rate is always massively more than the brand new rate, so it sounds about right.

I was looking at a used 325d Coupe the other day and was quoted 10.9%, compared to 3.9% on a new 3-series.
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Offline Top Cat

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Re: VW Finance APR
« Reply #2 on: May 03, 2013, 01:15:02 pm »
6% of 30,00, is 1800 13% of 12000 is not far off the same amount of finance profit so it sounds about the same % ish.  They could probably do better than 6% on the new car as lots of car companies use the APR as a marketing tool.  :happy2:
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Offline Tamiyoman

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Re: VW Finance APR
« Reply #3 on: May 03, 2013, 01:43:53 pm »
Finance is where a large part of the dealers profit comes from
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Offline tony_danza

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Re: VW Finance APR
« Reply #4 on: May 03, 2013, 02:09:34 pm »
I'd expect 8-9% on a used car, I'd be looking at a loan elsewhere to be honest.
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Offline Markyed30

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Re: VW Finance APR
« Reply #5 on: May 03, 2013, 02:57:48 pm »
They all start high and u can haggle
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