[Vid6639]

Originally Posted by shankar.balan

Surely this would have had an annual bullet payment?

Nope no bullet payment scheme. It's a 7 year loan. 6 lakhs down payment, 37K emi. This is supposedly for on-road price bangalore.

If you calculate it comes to 31 lakhs (37 X 84) and 6 lakhs so a total of 37 lakhs.

[shankar.balan]

Originally Posted by Vid6639

Nope no bullet payment scheme. It's a 7 year loan. 6 lakhs down payment, 37K emi. This is supposedly for on-road price bangalore.

If you calculate it comes to 31 lakhs (37 X 84) and 6 lakhs so a total of 37 lakhs.

Would this be then, for the top spec quattro variant?

[.Albatross.]

Originally Posted by Karan1981

I had received a mailer from them for the first 100 customers, 6 lacs dp and 37k emi for 84 months. On road cost.

I found a little ambiguity in the installment amounts being quoted here and the ones which i would find in the newspaper/online advertisements.

Rs 33,657 for 84 months after a down-payment of 6 lakhs is the latest that I noticed on IAB . It aint a difference small enough to be overlooked .

Is the difference because of varying registration amounts ?

[Karan1981]

Originally Posted by .Albatross.

I found a little ambiguity in the installment amounts being quoted here and the ones which i would find in the newspaper/online advertisements.

Rs 33,657 for 84 months after a down-payment of 6 lakhs is the latest that I noticed on IAB . It aint a difference small enough to be overlooked .

Is the difference because of varying registration amounts ?

My bad it's 33657 for 84 months. No bullet mentioned.

Originally Posted by shankar.balan

Would this be then, for the top spec quattro variant?

I doubt unless they are giving a discount as I had heard the top end costs 43 - 44 on road.

[abs182]

^^^
I recently I called for the scheme details and test drove the car too. I can confirm that there is a bullet payment of RS. 2 lacs on the 12th month of all the 7 yrs. so to the calculation you add about 14 lacs.

The advertisement very conveniently doesn't mention this.

[ACM]

^^^ That would be misleading the customer and also not make financial sense. That just doesn't make for sound logic. Yes they would have *Terms and conditions apply mentioned somewhere but am sure no one will be happy to hear this and may be put off by the vehicle even more. How did it impact you when you learnt about this fine print detail.

[abs182]

Originally Posted by ACM

^^^ That would be misleading the customer and also not make financial sense. That just doesn't make for sound logic. Yes they would have *Terms and conditions apply mentioned somewhere but am sure no one will be happy to hear this and may be put off by the vehicle even more. How did it impact you when you learnt about this fine print detail.

To be honest with you I wasn't surprised. I knew they would have some caveat it it as the math wasn't adding up. When I saw the details about the bullet payment every 12th month the math added up immediately. Plus the tenure is 84 months a first from Audi so was expecting some surprise.

Below please find the details as mailed to me by their Sales guy.

Ex-showroom : 31,47,067
Individual RTO + Handling Charges : 3,69,590
Insurance : 1,16,596
Audi Sure Platinum : 59000
VMC : 68515
RTO Charges : 5000
On Road : 37,65,767

Finance scheme

Down Pay : 600000
Loan : 3165767
EMI – 84 Months : 37,278
Bullet Every 12th Month : 2,00,000
Rate of interest : 10.37%
Advance EMI : Zero
Tenure : 84 Months

On Every 12th Month, Total EMI = EMI plus Bullet (37,278 + 200000)

[Contrapunto]

Originally Posted by Vid6639

Nope no bullet payment scheme. It's a 7 year loan. 6 lakhs down payment, 37K emi. This is supposedly for on-road price bangalore.

If you calculate it comes to 31 lakhs (37 X 84) and 6 lakhs so a total of 37 lakhs.

I asked the SE at Audi Hyderabad and he mentioned there IS a bullet payment. The difference is a 0% interest vs. around 11% interest. Any clarity will be greatly appreciated.

I heard Audi does give a 0% interest loan in Mumbai (competition???), not so if its true. I wish they had done so in other geographies as well. It would have seriously boosted sales, and even if one arm of the organization (Audi Finance) lost out on interest, the parent would have recouped a lot more from higher sales, and dealers , of course, would have been the happiest with increased turnover from service and accessories.

[Rameshdude]

Originally Posted by abs182

Down Pay : 600000
Loan : 3165767
EMI – 84 Months : 37,278
Bullet Every 12th Month : 2,00,000
Rate of interest : 10.37%
Advance EMI : Zero
Tenure : 84 Months

On Every 12th Month, Total EMI = EMI plus Bullet (37,278 + 200000)

Guys, Suppose I am taking loan from a nationalised bank,where the rate of interest is 12 to 13% . For a car costing 36 lakh, I take loan for 30 lakh, calculating with the rate of interest, I would be paying between Rs 50k emi. And there would be no annual 2L too. So there is not much difference. Or Am I missing something.

[Karan1981]

Originally Posted by Rameshdude

Guys, Suppose I am taking loan from a nationalised bank,where the rate of interest is 12 to 13% . For a car costing 36 lakh, I take loan for 30 lakh, calculating with the rate of interest, I would be paying between Rs 50k emi. And there would be no annual 2L too. So there is not much difference. Or Am I missing something.

If your interest rate is 11.25% for 28.5 lacs and tenure is 5 years the emi is 65000. So 12 -13 % on 30 lacs will be a lot more per month

[shivasuma]

Originally Posted by Karan1981

If your interest rate is 11.25% for 28.5 lacs and tenure is 5 years the emi is 65000. So 12 -13 % on 30 lacs will be a lot more per month

At the current rate of interest of 10.45% with SBI, the EMI is Rs.50,504 per month for a 7 year loan for a principal amount of 30L. I don't see how the Audi scheme is beneficial. Its just misleading.

[shankar.balan]

Originally Posted by shivasuma

At the current rate of interest of 10.45% with SBI, the EMI is Rs.50,504 per month for a 7 year loan for a principal amount of 30L. I don't see how the Audi scheme is beneficial. Its just misleading.

Much as I love these cars, I find them horrendously over priced in India. These finance schemes which look drool worthy and tempt one so sorely, are no more than gimmicks.

Only the Skoda Yeti somehow managed to stay in the ballpark of its International pricing here in India and hence, it was a worthwhile buy.

Every other one of these foreign derived vehicles is just totally ridiculously overpriced and I find that highly irritating indeed.

It is only when the foreign manufacturers cease to be affected by the evil duties, that their vehicles will be worth buying. This protection of the domestic car industry is something like the 'reservation policy' for backward classes, that is applicable for education in India! The domestic manufacturers are just making hay while the sun shines! By ow they ought to be giving the Indian consumer far far more than they are - for example every single car should come with essential safety kit, driver aids and whatnot, thus narrowing the gap between what the foreign cars offer and what Indian cars offer. But NO, our greedy manufacturers will never do that because it means eating into their fat cat profits, fat cat paycheques and other such...lamentable situation wouldn't you say?

[PPS]

Here is what Hormazd Sorabjee tweeted a while back:

'Scoop! Audi to launch Q3 Sport this August. Rs 25 lakh SUV Audi's weapon against A-class, 1-series'.

'Q3 with DSG and Quattro to continue. Q3 Sport with 6-speed manual and FWD to be over Rs 4 lakh cheaper on-road'.

[Karan1981]

Originally Posted by PPS

Here is what Hormazd Sorabjee tweeted a while back:

'Scoop! Audi to launch Q3 Sport this August. Rs 25 lakh SUV Audi's weapon against A-class, 1-series'.

'Q3 with DSG and Quattro to continue. Q3 Sport with 6-speed manual and FWD to be over Rs 4 lakh cheaper on-road'.

Surprising to know they wanna launch a manual car in that segment in india!

[zulfi hansi]

Originally Posted by shivasuma

At the current rate of interest of 10.45% with SBI, the EMI is Rs.50,504 per month for a 7 year loan for a principal amount of 30L. I don't see how the Audi scheme is beneficial. Its just misleading.

Considering this calculation you will end up paying about 45-50 K more to Audi every year. I have a hunch that Audi must be giving some discount in this scheme also, may be in the form of AMC or even reduction in the amount of bullet payment. I am sure any serious buyer will not stop at this scheme.