Audi Malaysia has revealed a new step-up financing plan. Official details available on its website are scarce at the moment, so we got in contact with an Audi dealership to find out more.
Known officially as the Audi Progressive Financing Plan, we understand that the car financing scheme is available for all new Audi models currently on sale, except for the current A4 range, which is due to be replaced by the new B9 A4. The plan is an initiative put forward by Audi Capital Advisory (ACA), a division of Volkswagen Capital Advisory.
“Owning an Audi has never been easier with this new financing package, which provides preferred interest rates of as low as 0.98% per annum, greater flexibility to manage your cash flow and an accessible entry point to Audi’s entire range of progressive vehicles. So whether it’s one of our sophisticated sedans and sportsbacks, our sporty SUVs or our stylish coupes, there’s never been a better time to purchase an Audi vehicle,” said Imo Buschmann, managing director of Audi Malaysia.
Unlike BMW Malaysia’s balloon financing and Mercedes-Benz Malaysia’s “Agility” package, Audi Malaysia’s Progressive Financing Plan is structured for lower payments in the first year, with gradually increasing monthly payments over the years. No end big “balloon” payment. This allows one to own a new Audi at friendlier monthly costs, with payments that “step up” along with your salary, hopefully.
Speaking to a helpful sales advisor, we managed to get a brief example of the Progressive Financing Plan based on the Audi A3 1.4 TFSI, which is priced at RM186,900 (OTR without insurance). We were told that for a nine-year loan tenure and on a 90% loan sum taken at the currently-available interest rate of 2.38%, monthly instalments in the first year amount to just RM999.
The 2.38% interest rate on your loan remains throughout the tenure, while in the second and third years of that package, monthly instalments increase to RM1,530. The fourth to the seventh year is RM2,100, while the final two years amount to RM2,270 a month.
Another example, also based on the A3 1.4 TFSI, was provided with a seven year financing plan which carries an interest rate of 2.08% for the entire loan tenure. The monthly instalments of RM 999 remain for the first year, rising to RM1,600 for the second and third years, RM 2,650 for the fourth and fifth years, RM 3,410 for the final two years and has a final instalment of RM283.38.
For a five-year, 90% loan package, Audi Malaysia offers a low 1.18% interest rate. Based on this, monthly instalments for the first year are RM2,000 per month, while the second year is RM3,600. The third year rises to RM4,500 while the fourth and fifth years are at RM4,650 per month. As before, the the interest rate remains throughout the tenure – in this case, at 1.18%.
The Audi sales advisor also mentioned that for this month only, a RM17,000 rebate is being offered on all new Audi models (subject to several terms and conditions, of course). However, buyers will have to choose between one or the other when buying a new Audi – you can’t have the RM17k rebate and the progressive financing package together.
Based on the Audi Progressive Plan, the monthly instalments for the remaining models (except the Audi A4) are listed to start from:
- Audi A3 – RM999
- Audi A5 – RM1,900
- Audi A6 – RM1,700
- Audi A7 – RM3,300
- Audi A8L – RM3,500
- Audi Q3 – RM1,100
- Audi Q5 – RM1,700
- Audi Q7 – RM3,100
- Audi TT – RM1,500
- Audi R8 – RM6,600
Audi Malaysia’s four-year or 120,000 km (whichever comes first) manufacturer warranty remains as before, regardless of which package you choose. The SA also mentioned that the low interest rate currently available for its progressive financing plan will only be available for the months of March and April 2016. What happens next, we’ll have to wait for further clarification from Audi Malaysia.