Advice on buying an Audi S3 at age 22

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Kteara

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Hi everyone, first time posting here.

I'm not sure if this is the right spot to post this thread but apologies if it isn't. I have a few questions regarding the Audi S3 purchase because it's my dream car but I have many uncertainties. Here is a quick background on myself. 21 years old and studying a degree, which I finish in 2 years. I currently have a part time job bringing in around 900 a month. I have about 10k saved, but I don't want to buy any car unless I have double the value in my bank, therefore I need 20k in my account before I can spend 10k on an S3 (looking at a 2009 model). I currently save 500 a month so if you do the maths it doesn't take long to see that it would take me 2 years to save this much.

I'm in a very frustrating situation because I want the S3 now, believe me it's all I think about and its the biggest motivator in my life. Older people I speak to such as family and friends tell me to forget about cars and save for housing but living in London this seems so impossible. The S3 isn't the ultimate goal. I would love to be able to afford something such as an R8 when I'm 30ish. With this in mind, would I regret buying an S3 at age 24ish?

I currently drive a mini cooper which is giving me a lot of problems. I need a new car asap and although I would love the cooper S, it's not practicable for carrying more than 1 passenger. I've looked at the mk5 GTI but that car just makes me want the Audi S3 even more because it's better in every way.

I'm pretty lost. I would appreciate some insight on these questions and thoughts I'm having.

thanks.
 
Well done on working for a degree and getting a part time job AND saving as well.

I think that's fantastic

All I'd say for now is dont crucify yourself for the sake of a car.
Work,save,get a good degree and then enjoy the benefits....that's from an old git with two degrees and a series of bangers before I could buy a decent car!!
 
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Emm... I dont really know where to start with this...

1.. I dont understand why you need double the money of the car to purchase it..

2. You'll not get a 2009 S3 for anywhere near £10k try £15k so a starting price....

3. Its more an investment.. You buy the car, enjoy it for a few yrs and you only lose the depreciation on the car as long as you look after it properly...

Insurance will be the biggest problem at your age... Insurance will be written off outgoings and you will lose the depreciation on the car... And obviously running costs... But thats the same with every car... If its your dream car and you can afford it, then go for it...

But.... I don't know for how long you'll want to keep the car standard, especially if your a member of this site, there will be modification costs maybe and the insurance rises because of this...

You and only you will be able to decide if its what you want ultimately!
 
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One big factor after all the buying and insurance is FUEL , it's not cheap . I took one for a test drive recently and the mpg wasn't diabolical how ever it wasnt pretty.
I opted for the 2.0 tdi quattro as a substitute , a couple of years ago .
it's not an s3 but it's nippy for a dirty diesel . And if you wanna keep the value I.e full service history , audi servicing is day light robbery have a look at the fixed pricing on the site.
I know this is very negative but hey you know all the good points ;)
 
I find myself spending any left over money after rent and bills on my car.. and thats only trying to run a 2.0TDI...

its more expensive than you think.

it helps a lot considering i can do a month on 1 tank of diesel. now that would not happen in an S3 so maybe look into getting an older Very nicely specced A3 in diesel like me?
 
S3_Jacko said:
Emm... I dont really know where to start with this...

1.. I dont understand why you need double the money of the car to purchase it..

2. You'll not get a 2009 S3 for anywhere near £10k try £15k so a starting price....

3. Its more an investment.. You buy the car, enjoy it for a few yrs and you only lose the depreciation on the car as long as you look after it properly...

Insurance will be the biggest problem at your age... Insurance will be written off outgoings and you will lose the depreciation on the car... And obviously running costs... But thats the same with every car... If its your dream car and you can afford it, then go for it...

But.... I don't know for how long you'll want to keep the car standard, especially if your a member of this site, there will be modification costs maybe and the insurance rises because of this...

You and only you will be able to decide if its what you want ultimately!
Click to expand...

Hi mate, appreciate your reply.

I didn't understand the part I've underlined.

The need for double the money is purely opinionated. I would feel more financially comfortable knowing I haven't spent my last penny on a car and then not be able to afford petrol/going out/repairs and maintenance. Do you feel this is unnecessary and I'd be better off just dumping 15k as soon as I have it in my bank?

Part 3 of what you said is interesting and I agree to an extent. It's not gauranteed that I will only lose the depreciation and even if that were the case, there's no way to accurately predict how much the car will be worth in 5 years time (when I plan to sell it). You make a good point about looking after the car but honestly, since owning the mini cooper I have very little trust with cars. I enjoy blasting cars every weekend around country roads and motorways and so accelerating with high revs before gear changes. This has inevitably led to my gearbox needing refurbishment twice! I couldn't imagine how much a gearbox change in an audi s3 would cost. Modification would be kept to a minimum and would only be for looks e.g. coilovers and rims.

Still pretty confused as to what steps to take. thanks!
 
Put it another way....if it's going to stretch you to buy one in the first place,don't forget to add in insurance which will be costly,and then running costs and servicing.

S3s are reliable but aren't cheap to fix if anything goes wrong,and they do need regular maintenance.

If you've already broken your Cooper's gearbox twice,I'd suggest that you need to be a bit more sympathetic....I've had the box on my S3 rebuilt,at around £800 plus various bits,and since that,I've managed to make it last through 500+bhp and 450lbs.
 
Generally the S3 has tended to follow a trend over the last while that it tends to lose around £500 in value per registration update... Probably around £1k a year...

S3s are generally bulletproof... They are built to take punishment, however as long as you are driving it properly when doing so...

I understand what you are saying what you are saying with rainy day savings etc... But you also stated you save at least 500 a month...

So if you buy a car when you have £15k your still going to have £500 disposable income thereafter..

Depending on miles you do, S3s averagely consume £70 per 300miles, so take that into account.. Get quotes for insurance.. At your age?? I dunno, also depends on your postcode and ncb... Also tax.. Wear and tear items, clutch, tyres etc again all lost depending on how you drive the car...

They are not cheap... But can you put a price on the fun you'll have at being able to drive your dream car each day..?

Again.. Its ultimately your decision.. You could still get 1 and sell it after 6 months and buy something else if you feel you cant afford it...
 
I can see your logic but, saving is by far a better way to get you started in life. Blow big bucks on cars when you're earning big bucks.

For now the only way you should be getting in a £20k plus car is by leasing it for say £200 per month out of your excess funds from your part time job. It means your saving rate reduces but, it also means you don't suffer the inevitable depreciation no matter how 'bullet proof' the S3 is.

My brother who hasn't got two beans to rub together has just got himself a BMW 125d (£28K car) for just over £230 per month or a total cost of around £6000 for two years fully maintained. Yes he'll never see the £6k again but, there is no way he could afford the cash outlay for a car costing that.

The other way I'd look at it is that you would be spending at least £20k on a car whilst earning only £10,800 per annum. I appreciate your degree will hopefully lead to bigger and better things (more money) but, until it does don't go blowing that sort of cash on a car. There is no right and wrong % but, for a £20K outlay I'd be looking to be earning at least £30k (after tax) before committing to that sort of purchase.

I hear what you say on property but, saving is the best option with as large a deposit as possible to have any hope of hitting the first rung of the property ladder.

Good luck in whatever you choose.
 
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pluves1 said:
I hear what you say on property but, saving is the best option with as large a deposit as possible to have any hope of hitting the first rung of the property ladder.

Good luck in whatever you choose.
Click to expand...

So true...and good advice.

Saving for a deposit on property is pretty boring in one respect,but saving for that once you're comitted to something else as well is even worse.
For her age,my daughter earns very well indeed,and is finding these things out as she begins to look at the options.
 
I agree with the above... But also like to add tho, if you are not planning on leaving home for a few yrs then theres nothing wrong with getting a decent car and then selling it to put that money towards a deposit as thats exactly what I did...
 
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Appreciate the replies from everyone and I love the diverse range of replies. This does sound a little arrogant but if I were to continue saving money after graduating and running a banger, I would have a tremendous amount of frustration built up and an even higher aspiration for a sports car. But at that point it would be something similar to an Audi R8.

This opens a huge can of worms because yes I would be around 26 years old with a nice amount saved but I would still be in the same problem I have now... Do I spend all of my hard earned savings on a car? Of course not. This will be an even bigger issue at that age because I have more responsibilities and therefor need the money for future house or family.

Another concept I'm thinking about is this do I spend 6k on a car now till I graduate and then sell it for 2k? Or do I buy something like the S3 and sell that after graduation and lose the same amount of money through depreciation? Right now I'm very lost as to what I should be focusing on and more importantly what I should do. As it stands I need a new car asap due to the problems on my Mini Cooper and I've still not decided what to get.

Thanks guys I know I sound crazy lol I'm just a very careful person with a lot of questions. A huge petrol head but also financially aware and I want to set myself up for the best life possible.
 
audi upgrades
Buy an Impreza. With the budget you have in mind, its a far superior car and a lot more for your money with the 2004/2005 models. Youd have much more fun, a more reliable car and performance that outshines any S3. They are generally bombproof, and although it feels very special inside , its not as sophisticated as an S3, that is the big downer.

But a good JDM Impreza STI Twinscroll will set you back around 8-£12k depending on here, and it will blow your mind away.

Just an idea. It would possibly leave you with money to spare for insurance and maitenence, and you generally wont have any depreciation to factor in, they are actually going up in value.

I just sold mine for £9k as I needed a diesel. I love my A3 Black Edition Quattro, especially inside, but its no where near the car the Impreza was.
 
My advice is just buy one when you have enough money. Its not like spunking the money on a holiday you will have a saleable asset.

If anything goes tits up just sell it and get most of your money back. If not you have the car you wanted in the first place, happy days.

The S3 isn't an expensive car to run in the grand scheme of things and will certainly be less to maintain the a knackered mini needing gearbox rebuilds. Just treat it with some respect and mechanical sympathy and you will be fine.

Life is too short IMO.

Oh and just to add I was running an E46 M3 at your age and the insurance was circa £1400 so doubt it will be a massive amount, just do a quote!
 
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As much as you're keen to get into an S3 I suggest waiting for a few years, boring I know but financially sensible. With a budget of around £5k you'd easily find a decent fun car to whiz about in for the next few years until your uni has finished and you're getting the good wage it sounds you deserve.
You could always just upgrade your Coopers gearbox to the Getrag 6sp Cooper S box and continue to safely thrash your MINI whilst building up NCD.
 
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I have to laugh at some of the replies.

Personally I can see both sides of the argument, I'm limited now because of a car accident so cant drive anything manual even if I wanted to so in one way, you only live once so if you're going to do something then just do it.

On another note, have you considered the standard A3 with the 2.0t but quattro? insurance should be less, none of the fwd scrabble, cheaper to buy and easily mapped to around the same power as the S3

Also in response to the suggestion of an impreza, the insurance can range from expensive to utter made up figures. I got a quote on an S4 a couple of years ago (they should be similar statistics they look at e.g people wanting to steal them) and it was double what the CL I ended getting was (which was group 20 for comparison - old school group 20)

HTH
 
Impreza insurance is always expensive because they are mostly driven by 2 kinds of people, young chavs or 40 something males going through a midlife crisis, thus lots end up upside down in a field.
 
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Tough one, when I was your age I loved cars but I had a escort estate but I loved it. I wouldn't spend the money pal on an s3 buy something cheaper, something decent it's amazing what you can buy for 2k. And you can keep saving your money. Trust me you still enjoy your new car.
 
Tricky one.... Personally I'd save for a house and lease a car. I've never leased a car before but if I were to do it all again that's what I'd do.
The best decision I made was to buy a house. Cars come after.
 
Cars are bottomless pits. They are depreciating assets FACT. I cant believe you live in London and want to ***** 15k on an S3 Dan then have the running bills to come with it.

Buy something cheaper. Where the depreciation has been suffered by others.

Spend your money getting ****** and hitting on women. Much more fun !!!

I used to see young guys like this in my early 20s. Really nice cars but couldn't afford to go out and dressed in the bargain section of burtons. Used to just drive birds about thinking they were the mutts nuts. Yawn!

Go and enjoy yourself but the best thing you can do is buy your own place. No offence meant !
 
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What about buying yourself an 8l s3 pick decent one up for 3/4k so your not blowing all your money? Maybe pick one up with couple of mods already done just an idea
 
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Thanks for the advice guys

I've sort of given up on the idea of buying an S3 anytime soon. Honestly, I would rather have the opportunity to purchase an R8 in the future. I'd need to have housing sorted at the very least for this to become a feasible option. Does anyone on here currently plan to own something similar soon? What steps are you taking to make this dream a reality? What steps did you wish you took when you were younger and did buying cars such as the s3 hold you back significantly?
 
Look at do e of the you tube videos on 2nd r8s.

One guy bought a 57 plate cheap but his best advice was whilst the car is a cheap super car to buy you still have 90k super car maintenance bills. It's one thing buying a car. It's another thing running one
 
Search for Audi r8 running costs. Or subscribe to supercars of London on utube.

Guy bought it at the age of 23. The fuel bills alone creased him let alone the issues he had with it. He loved it all the same and did the gimbal UK run with it.
 
+1 My W215 CL was the base model 5.0 V8 and that did about 7-9mpg while cold, it did about 14 at most knocking about when warm and 26-31 on a run depending how slow you were willing to go lol!

I'd seriously look into just an 8P A3 with the 2.0tfsi and possibly one with Quattro depending if its an absolute must - which most of the time it really isn't, even when mapped
 
Kteara said:
Thanks for the advice guys

I've sort of given up on the idea of buying an S3 anytime soon. Honestly, I would rather have the opportunity to purchase an R8 in the future. I'd need to have housing sorted at the very least for this to become a feasible option. Does anyone on here currently plan to own something similar soon? What steps are you taking to make this dream a reality? What steps did you wish you took when you were younger and did buying cars such as the s3 hold you back significantly?
Click to expand...

I've been reading through all the posts since you first asked the question and with the benefit of many years driving and running fast(ish) cars, I think that you have actually answered your own question whilst posing another equally difficult one.
Yes, it is ok to have that dream and to want something special, to realise that dream is totally different in the real world though.
Many things change in life and as you have just stated, between Wednesday and today, you have changed your mind between an S3 and an R8...?
Your money will only serve you well in property. A car will always lose you that money and probably cost you considerably more in running costs, therefore, I could never say, "great idea, off you go and buy one", because it's a bad idea and will cut down your savings by about £350-400 a month.
Running costs would probably go away with most of that and then there's always the second hand Audi garage bill that you weren't expecting and I know, as others on here know, that it isn't good to hear that you have a £2000 visit for a couple of rattles and a bit of vibration.
Once you get your degree and settle into regular employment is time enough to be thinking about the S3.
I would love an R8, but, at 53 and earning good money, I don't see that as being an important thought in my life right now.
:concern:
 
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Have you considered an A5 3.0TDI Quattro?

I would have that over an S3 any day.

My reasons being: Cheaper to buy, Better MPG, nearly as fast as an S3(0.2 seconds slower), A LOT cheaper to insure, get more toys & luxury if you find the right model.

Anybody else think the same?
 
Buying property in London in this current age seems like an almost impossible task. Decent 3 bedroom houses cost upwards of 350k. With 20grand saved that's not even 10% of a deposit. Although many of you have probably bought your properties before your s3's. Is your advice still relevant to the current house market today? How and earth do I go about buying a nice property in my mid 20's without killing myself.
 
audi upgrades
Brother in law has a half mortgage and the council owned other half. He eventually bought the final Half of his flat when he earned more. Maybe an option for you.
 
Best thing to do is speak to a number of mortgage brokers and building societies and weigh up the options. There are a number of schemes such as the one above when you can part own your home. There are still offers on new builds similar to this. Perhaps look a little bit more down market for your first house.. do you really need 3 bedrooms? Once you are on the ladder the next move is a lot easier.

I think you have made the right decision - cars are a luxury really.. a place to live is necessary!
 
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I'm no life guru but if I were a student spending £400 a month I would save the £500 for a house or put it towards paying off my student loan when I'm done.
Living on £400 a month in London is pretty good going.
You may find that £400 a month outgoings may triple when you have a mortgage/rent and bills to pay and that would be with a relatively cheap mortgage/rent.
Bear in mind a major service on an S3 can be around £600, a set of tyres is £550, tax is £285, Insurance for a me (31 yr old with 11 years no claims) is £300 so it all mounts up.
With the current economic climate I wouldn't take getting a job straight out of uni for granted either. A lot of my friends have very good degrees and can't get jobs but maybe you have good contacts and something lined up?

An S3 and certainly an R8 is completely wasted in London anyway. Cars like that are made for the open road IMHO.

keep the Mini going (or get an old austin mini that would be cool!) and use the tube or get a road bike until you've finished. Get a job out of London where you can buy a house (20k is a very decent deposit outside the big cities) with all the money you've saved and where there are decent roads then get something tasty.

My first car was a 1.3 F reg escort and it took me 8 years to save for a deposit for a house once I'd sorted my career and traveled a bit. I'm glad I didn't cripple myself with paying for an expensive car when I was younger.

That being said I've worked full time since I was 19, never went to uni and will never be able to afford an R8!

Good luck with whatever you decide to do.
 
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Fix the mini and spend rest on drugs!



Nahhh jk, what you studying degree in?

And idea on insurance iv done quote for when i turn 22 in a few week with 2 NCB and 4 years driving - just over a bag of sand which i didnt think was too bad.
 
Kteara said:
Thanks for the advice guys

I've sort of given up on the idea of buying an S3 anytime soon. Honestly, I would rather have the opportunity to purchase an R8 in the future. I'd need to have housing sorted at the very least for this to become a feasible option. Does anyone on here currently plan to own something similar soon? What steps are you taking to make this dream a reality? What steps did you wish you took when you were younger and did buying cars such as the s3 hold you back significantly?
Click to expand...

As I said originally you can get behind the wheel of a decent car - just lease it. Yes it might seem like you're 'losing £6k' over two years but, on a 20K car you'll lose more than that in depreciation. Then add running costs. Running costs are an often overlooked fact when getting behind the wheel of a car. The more expensive the car the more expensive the running costs. Take the S3 - £500 for tyres all round. Aprox £500 for a cambelt and water pump change. Servicing around £150 or £300 for the big one. Then fuel and insurance.

Leasing is your answer - do some homework and shop around. It's usually the performance cars that have the best deals. I've seen the new Golf R for £6,700 over two years, the BMW which I quoted earlier. Ford Focus ST for £5,200. Not seen an Audi S3 yet but, you never know!

The BMW for instance I am staggered they can do such a deal. The car is £28K list and given that it's going to lose over 30% of its value the lease option is a no brainer. I'm sure an S3 (no matter how bullet proof) will lose 15% of its value each year.

Another tip to get behind the wheel of buying new and nearly new is to try and time your car purchases with a recession (LOL) this is what we do or when times are tough and it's a buyers market or when the Euro moves in your favour. Over the last 6/7 years the price of new cars like the Golf GTI have moved from £22K to around £26,500 mainly due to exchange rates.

Good luck in your quest for the R8 :)
 
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pluves1 said:
As I said originally you can get behind the wheel of a decent car - just lease it. Yes it might seem like you're 'losing £6k' over two years but, on a 20K car you'll lose more than that in depreciation. Then add running costs. Running costs are an often overlooked fact when getting behind the wheel of a car. The more expensive the car the more expensive the running costs. Take the S3 - £500 for tyres all round. Aprox £500 for a cambelt and water pump change. Servicing around £150 or £300 for the big one. Then fuel and insurance.

Leasing is your answer - do some homework and shop around. It's usually the performance cars that have the best deals. I've seen the new Golf R for £6,700 over two years, the BMW which I quoted earlier. Ford Focus ST for £5,200. Not seen an Audi S3 yet but, you never know!

The BMW for instance I am staggered they can do such a deal. The car is £28K list and given that it's going to lose over 30% of its value the lease option is a no brainer. I'm sure an S3 (no matter how bullet proof) will lose 15% of its value each year.

Another tip to get behind the wheel of buying new and nearly new is to try and time your car purchases with a recession (LOL) this is what we do or when times are tough and it's a buyers market or when the Euro moves in your favour. Over the last 6/7 years the price of new cars like the Golf GTI have moved from £22K to around £26,500 mainly due to exchange rates.

Good luck in your quest for the R8 :)
Click to expand...

Well I would love to lease if it's cheap as you say however I can't find anything close to the s3 for £200 a month. On top of that you have to put down a hefty deposit which renders the idea pretty much obsolete. Does anyone have any advice on here for housing in this current market. An absolute shithole flat will cost around £250k these days and that requires 50k if I need a 20% deposit. I would then have to slave away for that said shithole flat. Is that really my future?
 
Stick to a cheap and reliable car whilst your at Uni, you've far more important things to do for now. Being in London ,do you really need a car? public transport is available almost 24hrs. a day there. Buying an expensive car is a moneypit at your age, you should be busy studying, getting drunk and spending money on concerts. My daughter spent the best 3 years of her life at UEA with no car and never found it a problem. Please enjoy your Uni years.
 
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Soot1 said:
Stick to a cheap and reliable car whilst your at Uni, you've far more important things to do for now. Being in London ,do you really need a car? public transport is available almost 24hrs. a day there. Buying an expensive car is a moneypit at your age, you should be busy studying, getting drunk and spending money on concerts. My daughter spent the best 3 years of her life at UEA with no car and never found it a problem. Please enjoy your Uni years.
Click to expand...

I get most of my joy from fast cars but thats just me.
 
Kteara said:
Well I would love to lease if it's cheap as you say however I can't find anything close to the s3 for £200 a month. On top of that you have to put down a hefty deposit which renders the idea pretty much obsolete. Does anyone have any advice on here for housing in this current market. An absolute shithole flat will cost around £250k these days and that requires 50k if I need a 20% deposit. I would then have to slave away for that said shithole flat. Is that really my future?
Click to expand...

And that, I'm afraid, is life as most of us know it. (Or at least, how we knew it at 22)....!

Don't try to run before you can walk, the fall is painful.

And I really do hope that you get your R8 one day.

;)
 
audi upgrades
I got my s3 a few months back and i'm 19 at uni, If you can financially afford it then go for it. Most fun you'll have :laugh:
 
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