S for Scarlet

I'm planning on ordering an S5 with European delivery. I've read through this forum, including the excellent FAQ, but still have some questions.

In particular, I don't understand why this won't work with a car loan?

From FAQ...
Q: Can I do this with a car loan?

A: Not that we know of. If a local bank or credit union is willing to give you a loan knowing it's for ED, then maybe you can.

So, does that mean everyone who has done ED is paying cash for the car? I was planning on putting more than 50% down on the car and getting a loan through my credit union for the difference. Why can't I do this with ED?

Also, I noticed that there was a VAT deposit (19%) that has to be paid up front. Anyone know if I can just put that on a credit card, my limit is high enough, and seems it'd be easier to get the money back that way if anything went wrong with getting the refund after dropoff.

Just curious about the semantics for those particular things. I'd appreciate it if anyone could shed some light on this.

Any other things I should be concerned about?

K2audi

Yes, I would imagine putting the VAT on a credit card would be no problem and yes, I would think it would be easier to credit the card back rather than waiting to get a check in the mail. As for a car loan, how I understand this is no Bank or Credit Union will loan money on a car that is not here physically in the U.S. I have heard some people taking out a second mortgage to buy the car than doing a refi on the car once it is stateside and putting the money back on their mortgage.

Also, someone had posted AoA was doing leasing on ED which could be an option. I also know the other manufacturers who do ED all offer leasing and purchasing through their "in house" finance departments to help with this issue.

I hope I was able to help and answer your questions. Good Luck!

S for Scarlet

Thanks K2, here's hoping Audi can finance the car 'in-house' with no issues since they are affiliated with the credit union I was going to get a loan with.

If anybody has financed an Audi with ED in this manner, please let me know.

K2audi

I did, but we had some strings pulled for us.

S for Scarlet

Well, I placed my order and requested European Delivery.

Funny that the dealer made no mention of financing the car being a problem for ED.

I may have to ask some specifics though once I get an official commission number, because the salesperson wasn't very familiar with the program (Didn't even know about the 5% discount until I mentioned and had them look it up).

Audi really should train their salespeople better with regards to these special programs. If I wasn't a proactive buyer, there's no way I'd get this information.

K2audi

Congratulations. Let me know if I can answer any questions for you from my personal experience.

cit1991

The car has to be paid for before you go over there, but there will be a bill of sale, and as long as the bank sees that, maybe it'll go through.

Just have a plan B in case they find out and refuse the loan at the last minute.

The_Clear

Try Pentagon Federal Credit Union. They finance BMW EDs

SilverA4

Finance with Audi and then replace that loan with one from your CU?

Gibber

I can only speak about USAA. I tell them the amount of the car and the name of dealer. They cut a check made out to the dealer and send it to ME. THEN, after picking out the car I give them the VIN number. I asked them directly about european delivery and they said no problem. In any event, under that senerio they never see the cay anyhow, and have no idea where I pick it up.