Jul 1, 2008
What sort of discount are you managing to get on a new S3?
i'm no after buying outright.
Had some more info from this guy and apparently the 5dr S3 is cheaper to lease by £10pm (even though its dearer to buy) than the 3dr because residuals are 'far stronger' apparently!
Well let us know how you do... good luck with getting a great price!
They have sent me a price through - £408 pm inc VAT 3+23 and that is for an S3 Sportback with metallic (£10pm cheaper than 3dr apparently because of better residuals) - this includes RFL for the term, and my selection of options which total about £2200 at full brochure prices)
That seems a great price - how many miles pa and can you list the options pls?
yeah result... :thumbsup:
Options were: mettalic, light sensor & rain folding mirror pack, bluetooth phone prep, storage pack, cruise, two tone leather, symphony, BOSE.
Basically i specced it up to my current TDI (as happy with options on that) Some things were standard that i have currently such as xenons, heated seats and armrest.
Apparently its ok to send the car back needing a service too so because this is a 2 year deal and it only needs a service every two years (at my mileage) its cool!
This is for 7k pa (i don't do loads and loads of miles) so this prob reduces cost a little - 12.5p a mile excess (=£125 per thousand miles)
The quote they sent shows that they get car at 90% list price and that seems to be passed straight to the customer - surprisingly.
If you want a standard car - £325 pm on these terms
yeah, nice spec. I guess the 7K only on miles and the 90% list price they get, helps your price for sure.
Look forward to the pics!
Steve, that's a cracking deal. Did they give a lead time? I'm in the same situation as you and would like to lease next. Was thinking an identical spec but 3-door; will keep my RNS-E from my current car as I retro'd it...
I've also been speaking to these guys recently, and they are basing their quotes on a 10% reduction on list.
My thinking is....
£375 incl VAT pm x 12 = £4500 cost per annum.
Less the interest on the £25k I still have in my pocket = £25k x 4% = £1000.
Net cost = £3500 per annum, or £291 per month.
Seems a good deal to me (and includes RFL).
The service thing mentioned is interesting as well, as I also do relatively low mileage, and I could just about get away without servicing it as well, as it would be due one when I handed it back.
well a bit dissapointed now - on closer inspection errors have been made! The chap had calculated the prices with 'blocked VAT' apparently 50% VAT so the price has now gone up from £408 to £441 (with full VAT required for personal lease)
Not sure if this is such a good deal now.
Wonder if get enough people to go for it they will discount further.... hmmm
But it's not quite like that is it? I mean, you have to pay a 3x deposit to start with...
and interest is better than 4% - if you put it in b&b you can get 5.21% net (6.51 gross)
OK, I could reduce the £25k to £23.8k, to account for the 3x deposit at the start, but that doesn't make a massive difference (£4pm).
Interest depends on your marginal tax rate I guess, I used 7% less 40% tax = 4%.
Fundamentally, the general principle must be OK musn't it? Please put me right if not :thumbsup:
oh i see you were basing on 40% interest - you must be loaded then lol
So 3 x £375.00 = £1125.00 for your deposit.
Then 23 x £375 = £8625.00
Total £ 9750.00
But they pay 2 years roadtax, which is £210 x 2 = £420.00
So your actual nett cost of leasing is £ 9330.00
Which is £4665.00 per annum.
You can earn £1300 on your £25k, which takes it down to £3365.00
Which is £280.42 per month.
Sounds to good to be true hey!
I guess you can keep playing with the numbers, relfecting personal circumstances (tax rates), RFL, options etc, but I still think it's a good deal.
The thing that isn't good IMO is when you start loading options, as they assume zero residual value for them at the end of the 2 years, so once you have loaded metallic, nav, bluetooth, etc etc, it doesn't look as good.
For a standard car though, I can't really see a downside to it (especially as it won't need servicing during your owndership, and you just need to ensure that the tyres are just about legal when you hand it back )
so hold on...
you'll do well if your under £500.
It still is a deent deal tho...
List of deals here.
ha ha ha, that's what I was thinking.
I agree, it's a cracking deal.
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