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  1. #1
    S3_Stub's Avatar
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    Smile Considering an S3

    Hi guys,

    I'm new here but I've been reading the threads for a few weeks now.

    I reeeally want an S3 but I'll be needing finance to get one. I've just finished Uni, have a salary of ~28-35k, no outgoings apart from a phone contract and some web stuff, and have ~10k cash to go down as a deposit. I haven't used car finance before so do any of you know what sort of monthly repayments I'd be looking at?

    Wouldn't want to get a brand new one really... Hopefully something like a 2007 in the region of 22-25k.

    Also, do you think I'm aiming too high going for a car like this when I need finance? Be honest if you think I can't afford it.

    Cheers,
    Stu

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  3. #2
    Boydie's Avatar
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    Don't consider....buy!

    I waited until a year out of uni to buy mine and love it to bits!

    Never financed a car either and paying finance on 9k - paying roughly 270 pcm over 3 years

    I am earning a bit less than you but like you have no outgoings and coping fine with payments, fuel, insurance, mods etc... as well as having a good social life.

    My S3 is 2007 and you can get them for much less than 22k

  4. #3
    slim40's Avatar
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    Hi Stu,

    Welcome! The S3 isn't too expensive to run all in, but have you enquired about insurance? Not sure how old you are, but if under 25, it'll be a kings randsome for sure ;-)
    You should be able to pick up a decent 2007 for circa 20K or just under- I paid 21K for mine from a main dealer!

    cheers
    Si
    S3 8P remapped to 308bhp/395Nm, all the toys, but no buckets

  5. #4
    Boydie's Avatar
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    Oh, I am paying 880 for my insurance, I'm 24 with 5years NCB

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    Quote Originally Posted by S3_Stub View Post
    Hi guys,

    I'm new here but I've been reading the threads for a few weeks now.

    I reeeally want an S3 but I'll be needing finance to get one. I've just finished Uni, have a salary of ~28-35k, no outgoings apart from a phone contract and some web stuff, and have ~10k cash to go down as a deposit. I haven't used car finance before so do any of you know what sort of monthly repayments I'd be looking at?

    Wouldn't want to get a brand new one really... Hopefully something like a 2007 in the region of 22-25k.

    Also, do you think I'm aiming too high going for a car like this when I need finance? Be honest if you think I can't afford it.

    Cheers,
    Stu
    FCUK!! I should of gone to that Uni! you finish and actually have 10k! I finished and owed 10k on loans LOL

    Mines is on finance with VW, Pay 238 a month for 5 years and have a mortgage as well, as a result I have no social life - unless you call cleaning cars with your girlfriend one?! I don't earn anywhere near 30k either at the moment so you are in a good position!!

    Seems like no better time to me! no outgoings, no mortgage etc - Do it!
    What made you choose an S3 over others if you don't mind me asking?

  7. #6
    slim40's Avatar
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    Quote Originally Posted by Boydie View Post
    Oh, I am paying 880 for my insurance, I'm 24 with 5years NCB
    That's pretty good, fully comp I take it?
    S3 8P remapped to 308bhp/395Nm, all the toys, but no buckets

  8. #7
    Boydie's Avatar
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    Yeah mate, fully comp, social and commuting and can drive other cars TPFT!

  9. #8
    JohnS3's Avatar
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    Welcome to the forum Stu.

    A 10k loan from Sainsburys over 5 years is 200.99 per month, APR 7.9%. Drop that to 4 years and it's 242.38, same APR. I imagine dealer finance will be more that that.
    I might also be parting company with my high spec 07 S3 soon, where abouts are you?


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  11. #10
    Staz's Avatar
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    Personally I would always go for a low interest loan over finance. I know some say it's better on finance because of the trade-in benefits but if you're planning to keep the car then go for whatever has the lowest APR, and that's normally a loan.

    What do you drive at the moment Stu?
    8P2 S3

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    Quote Originally Posted by JohnS3 View Post
    Welcome to the forum Stu.

    A 10k loan from Sainsburys over 5 years is 200.99 per month, APR 7.9%. Drop that to 4 years and it's 242.38, same APR. I imagine dealer finance will be more that that.
    I might also be parting company with my high spec 07 S3 soon, where abouts are you?
    I'd of used a better finance option - if it wasn't for my address where I live, as it's a new build the amount of trouble I have had proving my residence has been an absolute joke! Even my mortgage company who I HAVE A MORTGAGE WITH!!!! wont lend due to mismatch of address details! Sorry moving off of the thread - rant over!

  13. #12
    beanoir's Avatar
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    Personally I hate the idea of any kind of finance to buy a car, it just doesn't make sense to pay back more than you borrowed for something that is worth less when you sell it than what you bought it for. But I guess being an investor by profession, it's hard to break the mould when it comes to what I buy for myself!!

    However, not everybody is in the position to pay cash for a car or wait until they can afford to and thats fair enough everybody is different, so if I was going to offer advice, i'd choose the personal loan route everytime, it means the loan is not secured on the vehicle and you are free to do what you want with the car, can sell it / change it without the pain of having to pay off finance first or even at all if swapping (HPi issues etc), I reckon you'd get a better APR as well than dealer finance. And if you're chopping it in at a dealership, it makes no odds settling car finance or your loan, so don't buy into any of that rubbish either.
    Porsche Cayman S |Jeep Grand Cherokee|1988 Ford Fiesta XR2

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  14. #13
    paddy's Avatar
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    Quote Originally Posted by beanoir View Post
    Personally I hate the idea of any kind of finance to buy a car, it just doesn't make sense to pay back more than you borrowed for something that is worth less when you sell it than what you bought it for. But I guess being an investor by profession, it's hard to break the mould when it comes to what I buy for myself!!

    However, not everybody is in the position to pay cash for a car or wait until they can afford to and thats fair enough everybody is different, so if I was going to offer advice, i'd choose the personal loan route everytime, it means the loan is not secured on the vehicle and you are free to do what you want with the car, can sell it / change it without the pain of having to pay off finance first or even at all if swapping (HPi issues etc), I reckon you'd get a better APR as well than dealer finance. And if you're chopping it in at a dealership, it makes no odds settling car finance or your loan, so don't buy into any of that rubbish either.
    I have to agree with Nick

    You have your whole life to buy 20k+ cars, why burden yourself now with loans just as you start out in the real world ??
    You could get a 3.2 like mine for 10k-12k 2005 30k miles and just as much fun as an S3 and the 300+ a month you save on finance will buy you more extra's than you will ever need and a ton of change....







    There you go ! you could have this for 10k less than an 07 S3. and no debt.
    Last edited by paddy; 14th October 2009 at 21:18.
    Ibis white Revo S3 and now matching Vivaro LWB HR 2900 :-)

    Many people are alive because its illegal to shoot them.

  15. #14
    beanoir's Avatar
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    are you selling then??? hehe
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    [QUOTE=S3_Stub;824486]Hi guys,

    , no outgoings apart from a phone contract and some web stuff, and have ~10k cash to go down as a deposit.

    Hmmmm web things......................suspect

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    Crunch's Avatar
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    I want to know how the hell someone whose 24 has no monthly outgoings?!!? Unless your parents are loaded and gave you a house.

    I'm 20 and my outgoings including bills must come to near 1k a month. I do like the idea of getting a loan and chopping the a3 in for a white 335 m sport cab tho mmm.

  18. #17
    paddy's Avatar
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    Quote Originally Posted by beanoir View Post
    are you selling then??? hehe
    Eh...No but you see my point if ya fresh out of collage
    Ibis white Revo S3 and now matching Vivaro LWB HR 2900 :-)

    Many people are alive because its illegal to shoot them.

  19. #18
    mitch78's Avatar
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    Quote Originally Posted by Crunch View Post
    I want to know how the hell someone whose 24 has no monthly outgoings?!!? Unless your parents are loaded and gave you a house.

    I'm 20 and my outgoings including bills must come to near 1k a month. I do like the idea of getting a loan and chopping the a3 in for a white 335 m sport cab tho mmm.
    Still living with parents, obviously.
    Ex 8L S3 driver

    also A3, 320, Golf, Clio, Astra, Focus, Mondeo, Laguna, Escort, Calibra, 220, others and now back to a Focus...

  20. #19
    Staz's Avatar
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    I'm 29 and have no outgoings.....yet
    8P2 S3

    For advice on Air Con problems please read my FAQs.
    To find ASN members with VCDS check out the MAP.

  21. #20
    Crunch's Avatar
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    staz you must be bloody loaded mate

  22. #21
    paddy's Avatar
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    Christ i am old enough to be your Dad Staz !....dont worry, never been to Berkshire
    Ibis white Revo S3 and now matching Vivaro LWB HR 2900 :-)

    Many people are alive because its illegal to shoot them.

  23. #22
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    I'm 29 too and have a derv A3, main reason is I have spent and lost thousands on cars over the years and doing so with a mortgage these days is pushing it considering I had to pay for our wedding this year too.

    No wedding = Maybe S3

    Future = A4 Avant for the dreaded kids.... and I'll finally stick an S3 engine in my Lupo!
    B6 1.8T Avant s line gmbh

  24. #23
    beanoir's Avatar
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    Still at home with the olds at your ages!

    Feels cool to drive a nice car, but how embarrassing to admit you still live with Mummy and Daddy!
    Porsche Cayman S |Jeep Grand Cherokee|1988 Ford Fiesta XR2

    www.essexdriversclub.com

  25. #24
    paddy's Avatar
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    Quote Originally Posted by beanoir View Post
    Still at home with the olds at your ages!

    Feels cool to drive a nice car, but how embarrassing to admit you still live with Mummy and Daddy!
    Dont look at me sitting in my place, no wife, no kids, mortgage paid off.....A3 in the drive , Ducati's in the garage, I just love every day !! Life is perfect
    Ibis white Revo S3 and now matching Vivaro LWB HR 2900 :-)

    Many people are alive because its illegal to shoot them.

  26. #25
    beanoir's Avatar
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    Quote Originally Posted by paddy View Post
    Dont look at me sitting in my place, no wife, no kids, mortgage paid off.....A3 in the drive , Ducati's in the garage, I just love every day !! Life is perfect
    I'm nearly there, just no bikes and still have some mortgage, not huge mind, and i'm sure it's going to get bigger before it gets smaller, but paying more for my sky every month than I do on mortgage repayments is hardly a real mortgage i suppose...i might just stay where I am a bit longer!
    Porsche Cayman S |Jeep Grand Cherokee|1988 Ford Fiesta XR2

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  27. #26
    AuldReekie's Avatar
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    Quote Originally Posted by beanoir View Post
    Still at home with the olds at your ages!

    Feels cool to drive a nice car, but how embarrassing to admit you still live with Mummy and Daddy!
    Oops, someone hasnt been paying attention, but I am sure Staz can explain that for himself. Isnt that their own business anyway, nosey parker.

  28. #27
    beanoir's Avatar
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    It was more a general comment aimed at whoever it applied to, I don't think it was Staz who actually said he lived with parents in any event.

    Its only light hearted banter anyway, still when I did live at home, I had an A reg blue fiesta finesse 1.1, that cost me 800!! thats what I had when I left Uni, and later upgraded (?!) to an MG Metro.
    Porsche Cayman S |Jeep Grand Cherokee|1988 Ford Fiesta XR2

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  29. #28
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    Quote Originally Posted by beanoir View Post
    ... some mortgage, not huge mind, and i'm sure it's going to get bigger before it gets smaller, but paying more for my sky every month than I do on mortgage repayments .....


    Lets hope your sky monthly payments are 4 figures and the first number beginning with 2 because your making me feel very sick at the moment.. lol Decimal points not allowed!!!!
    Last edited by kkp0897; 25th October 2009 at 20:03.
    You can take the boy out of Essex but not Essex out of the boy...

 

 

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