NSW - 2.8% finance rates on Octavia range

[pologti18t]

Noticed an ad in today's Daily Telegraph for 2.8% finance on the entire Octavia range. 36 or 48 months

[dru]

Would have been better if it was 10 months ago lol. What is usually the catch with these sort of finance rates? Lots of fees? Large exit fees?

[woofy]

It's on the Skoda website.

[bobski]

I'm guessing the dealers do a lot of negotiating on the "monthly payment" trying to get you to pay sticker price.

But if you get a good price and save 6-7% over 48 months, its nothing to sneeze at.

[VAG newbie]

Does anyone have any further detail on this finance rate? Do you have to buy with full RRP? Any other fees and charges involved?

There are a few Octys at heavily discounted price, can I finance them at 2.8%?

[K1W1]

The vehicle has to be SOLD AND DELIVERED between 1 September 2011 and 31 October 2011. That pretty counts out about 90% of potential buyers as dealers have such limited unsold flor stock.
There is nothing in any of the Ts&Cs that I can see that says the vehicle has to be sold at RRP so I assume discounted vehicles would apply provided that they are on the floor ready to go.

[VAG newbie]

B&^^* hell, $1450, that is one hell of a catch right there, I guess the savings in interest might add up over time but I've usually paid around $200 or less if any in a setup fee. Some dodgy ones add in an admin fee every month as well.

Yeah, depends on how much you finance. The more you finance, the more you are likely to save on the interest.

But the closest rate I can get is at least 5% higher than that. So even if I go for the cheapest Octy, which is about $25000, 5% interest is already $1250. So in roughly in one year you get your admin fee paid for.

Also this admin fee doesn't have to be paid upfront, you can spread it out as part of the repayment.

Well, that's the bare minimum I'm gonna slash on that $26985 90TSI DSG.

[wai]

Then again, my dealer told me that the best time to negotiate a deal is after the sales. During the sales, they have people (almost) queueing up to buy cars. The month after the sales sees many sales reps get nothing as they have very few enquiries, even though they are prepared to do better deals.

A friend of mine ordered a new Forester in min-June to be delivered mid-September because of certain term deposits becoming available in September. In mid July, he received a call from the sales rep "begging" him to accept delivery before the end of July. As a sweetener, he would throw in over $1,000 of extras that he was not willing to when the sale was negotiated.

With these special finance deals, there are always catches. It can be current stock, and even here, check the build and compliance dates. When I bought my Caddy in late July, if I have not made it a condition of purchase that both the build and compliance years had to be 2011, I would have been supplied with the oldest one in stock which was around November 2010.

You certainly can get a good deal, however just make sure everything is checked and assume nothing.

[VAG newbie]

Then again, my dealer told me that the best time to negotiate a deal is after the sales. During the sales, they have people (almost) queueing up to buy cars. The month after the sales sees many sales reps get nothing as they have very few enquiries, even though they are prepared to do better deals.

A friend of mine ordered a new Forester in min-June to be delivered mid-September because of certain term deposits becoming available in September. In mid July, he received a call from the sales rep "begging" him to accept delivery before the end of July. As a sweetener, he would throw in over $1,000 of extras that he was not willing to when the sale was negotiated.

With these special finance deals, there are always catches. It can be current stock, and even here, check the build and compliance dates. When I bought my Caddy in late July, if I have not made it a condition of purchase that both the build and compliance years had to be 2011, I would have been supplied with the oldest one in stock which was around November 2010.

You certainly can get a good deal, however just make sure everything is checked and assume nothing.

Thanks for the advice. I'll certainly look out for the built date.

The 2.8% finance is strictly speaking, not a sale. It's not the negotiation between you and the salesman, it's after the negotiation, then you go finance it.

So after the offer is over, even if the salesman is willing to negotiate, there won't be 2.8% (assuming Skoda won't extend the offer). Also these offer only applies to cars in stock, and I don't think there are that many Octavias in stock. I think only about 10 90TSI in QLD. So if it's all sold out, it's all gone.

The $26985 is not a sale from Skoda Aus, these are 3 cars sitting in the show room they wanna get rid off. I'll treat them as demos even tho they haven't been registered, so I'll negotiate a bit more.

Certainly your theory applies to Golf and Mazda 3s at present. For the Golf, I don't know after the sale, how many dealer are willing to throw in driveaway price. For the basic 77TSI, it represent 20% discount when ORC are paid for. If you look at Golf MKVI forum, there is one thread recording how much discounts people have been achieving. Most people saved about 10-15%, nobody achieved 20% discount. So I guess it's pretty good deal now and I suspect anyone can achieve it once the sale is over.

Also for Mazda3s, I went to the dealer the other day, most of the automatic 3 Neo are gone. He had to look into the computer data base to check if any more in stock yard. So for popular cars, they do get sold out! Once sold out, how can you negotiate?

Just a few things to think about during the "car sale"!