Considering an S3

S3_Stub

S3_Stub

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Hi guys,

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

I reeeally :jump: 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. :crying:

Cheers,
Stu :happy:
:s3addict:
 
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 ;)
 
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_Stub said:
Hi guys,

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

I reeeally :jump: 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. :crying:

Cheers,
Stu :happy:
:s3addict:
Click to expand...

****!! 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?
 
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?
 
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?
 
JohnS3 said:
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?
Click to expand...

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!:sorry:
 
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.
 
beanoir said:
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.
Click to expand...

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....

Car.jpg


DSC_0009d.jpg


Betsy.jpg


There you go ! you could have this for £10k less than an 07 S3. and no debt. :)
 
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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.
 
Crunch said:
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.
Click to expand...

Still living with parents, obviously.
 
Christ i am old enough to be your Dad Staz !....dont worry, never been to Berkshire :)
 
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!
 
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!
 
beanoir said:
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!
Click to expand...

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 :yes:
 
paddy said:
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 :yes:
Click to expand...

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!
 
beanoir said:
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!
Click to expand...

Oops, someone hasnt been paying attention, but I am sure Staz can explain that for himself. Isnt that their own business anyway, nosey parker. :p
 
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.
 
beanoir said:
... 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 .....
Click to expand...

:wtf:

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!!!!
 
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