Facelift Finance and Wheels

[Spinstorm]

Alloy Wheels

I have the 5 wing arm alloys on my S3. I have some kerbing and I need them fixed before I PX my car for the RS3. Are the wheels diamond cut or not? The rims are very shiny. I’ve put a couple of photos on here.

Obviously repairs on diamond cut are not quite so simple. And I’d want smart repair nothing fancy.

Finance

I’m trying to decide the best approach to my PX. I’ve saved exactly what I need based on the original conversation with the dealer when I placed my order - which is 15k. 10k for the neg equity and 5k for the car deposit.

My mileage right now is quite a bit below what I expected on my S3. As of today it’s 11k. I doubt I’d put more than 2k on before mid feb/March when the car arrives. The pricing we talked about originally was based on 17k mileage.

My question is - is it in my best interest to go to the dealer mid January when the car has left the factory and try and negotiate a final price for my neg equity and deposit. Or is it better to wait until the week before?

If it’s a month in advance and they want more than what we agreed they could suggest I have time to save some more. If it’s the week before they may be inclined to just try and make a deal that works better for me.

What do you think?

 

[D0C]

They look diamond cut to me.

 

[Spinstorm]

I tell you one thing I am going to do on the RS3 is get the hubs protected. It is ridiculous that mine are all covered in rust after 6 months.

 

[zaka7]

They are diamond cut, can't do a smart repair per say, you'd need the coating as a whole taken off and then an entire layer, then re coated, a localised repair to the damage on diamond cut would look just as bad as leaving it imo.

 

[zaka7]

I tell you one thing I am going to do on the RS3 is get the hubs protected. It is ridiculous that mine are all covered in rust after 6 months.

HUGE rim protectors on the RS3 tyres, so may not need it...

 

[Terminator x]

£10k neg equity!

TX.

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[T-800]

Diamond cut need a specialist repair otherwise they’ll look rubbish.

Plenty of decent companies around depending on your locality.
You’ll be looking at around £100 a wheel for CNC refaced then re-lacquering per Alloy.

10k neg equity WTF.

 

[Daniel Knight]

10K of negative equity is crazy. I assume you put a very small deposit down when you purchased your S3? Also, how long have you had the car?

Either way those alloys are diamond cut.

 

[RGBARGEE]

Diamond cut. If you are in negative equity if you are on an Audi PCP or any other just see out the term and hand the car back. I wouldn't be paying out £10k for nothing. I am selling 2 cars at the moment (Rs3 on Pistonheads) My A4 is on an Audi PCP until October 2019 and is only worth about £4k more than the final value (plus £133 a month) If I cant sell I will just hang on to it as it is cheap motoring.

 

[RGBARGEE]

HUGE rim protectors on the RS3 tyres, so may not need it...

Looks like he's already running 19in wheels with PZeros on S3!

 

[zaka7]

Looks like he's already running 19in wheels with PZeros on S3!

Must be a different type, I had P Zero 19's on my S3 and my S5, and neither of them had a rim protector like the RS3...

Although saying that, the ones on the photo do look like the larger one...

 

[bigtasty]

I have the same wheels on my S3. Audi sold me the alloy insurance with the car and it's my understanding that they cannot do that with diamond cut wheels. I'm going to be getting the alloys repaired before I trade it in for the RS3, and I'm now worried that the insurance won't be valid. Still - that will be Audi's problem.

Also, it's not advertised as diamond cut on their spec sheet (not sure if that makes a difference)

Screen Shot 2018-01-04 at 09.29.15.png

 

[T-800]

Must be a different type, I had P Zero 19's on my S3 and my S5, and neither of them had a rim protector like the RS3...

Although saying that, the ones on the photo do look like the larger one...

Had 2 types of P Zeros now

PFL RS3 Had RO1 which weren’t huge

FL RS3 has RO2 which are massive by comparison.

 

[wab172uk]

£10k negative equity? You must be mad. Then only a £5k deposit on a £50K+ RS3?

What are the monthly payments on that?

Still, your money, your choice. Good luck to you

 

[Spinstorm]

Yes I know it’s expensive. I really want an RS3 is all I can say.

As for the wheels - that’s annoying. I have alloy wheel insurance. And I took it on the basis that they are not diamond cut as per the Audi Configurator (as it doesn’t say diamond). I don’t want to pay £200 to repair some minor curbing.

Back to the finance -

No one has suggested the best plan for valuing my PX etc - just said that it’s expensive! (Which I know!)


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[DrEskimo]

No one has suggested the best plan for valuing my PX etc - just said that it’s expensive! (Which I know!)

The deal on the RS3 is not dependant on trading in the car with that Audi dealer.

My advice would be to use the next few months to try any other avenues you can to reduce the negative equity (i.e. get a better price for the S3). Private sale, other car buying sites, independent garages or sale or return.

 

[DrEskimo]

As for the wheels - that’s annoying. I have alloy wheel insurance. And I took it on the basis that they are not diamond cut as per the Audi Configurator (as it doesn’t say diamond). I don’t want to pay £200 to repair some minor curbing.

Oh and I had alloy insurance on my previous S5, and it covered my diamond cut wheels. Just ring the company on your insurance leaflet from Audi and get them booked in. They can do smart repair, or if the damage is too great, they will contribute up to £110 for a full refurb wherever you want to take it. You get 6 claims a year.

 

[Spinstorm]

The deal on the RS3 is not dependant on trading in the car with that Audi dealer.

My advice would be to use the next few months to try any other avenues you can to reduce the negative equity (i.e. get a better price for the S3). Private sale, other car buying sites, independent garages or sale or return.

I’ve had a look already. The dealer seems the best option. The car is only 6 months old so can’t return it. So my options are sell it to someone else or to the dealer. The dealer is by far the simplest method.

But this is where my question comes into play.

Is it best to try and negotiate a final figure in a week or so or wait until the car is almost at the dealer? What is going to work better for me?

 

[zaka7]

Yes I know it’s expensive. I really want an RS3 is all I can say.

As for the wheels - that’s annoying. I have alloy wheel insurance. And I took it on the basis that they are not diamond cut as per the Audi Configurator (as it doesn’t say diamond). I don’t want to pay £200 to repair some minor curbing.

Back to the finance -

No one has suggested the best plan for valuing my PX etc - just said that it’s expensive! (Which I know!)


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Get Audi to guarantee a value for it now for March, that's what I did with mine, they took the payments I had left to make on the old car into account also so it wasn't a huge loss. Then you are free to shop around for a better value elsewhere, but you have the Part Ex with Audi to fall back on. In the end i just went with Audi for the lot.

 

[zaka7]

I’ve had a look already. The dealer seems the best option. The car is only 6 months old so can’t return it. So my options are sell it to someone else or to the dealer. The dealer is by far the simplest method.

But this is where my question comes into play.

Is it best to try and negotiate a final figure in a week or so or wait until the car is almost at the dealer? What is going to work better for me?

I would guess you'd struggle to negotiate a significantly better part ex value, as at the end of the day Audi won't really care if they get it or you go elsewhere, the majority of their money is in the new car. and if you didn't go through with the order, someone else would take it. So I would personally do as above, which I did

 

[DrEskimo]

I’ve had a look already. The dealer seems the best option. The car is only 6 months old so can’t return it. So my options are sell it to someone else or to the dealer. The dealer is by far the simplest method.

But this is where my question comes into play.

Is it best to try and negotiate a final figure in a week or so or wait until the car is almost at the dealer? What is going to work better for me?

Sorry, sale or return is where you give it to a car dealer, and they advertise the car for you based on a sale price you agree. If the car sells, you get the sale price (minus the dealers fee, about £1,500), if it doesn't sell, you can just take it back and trade it in (no fees are incurred). The downside is that you have to leave the car with the dealer while it's up for sale. Upside is you can get a much much higher price for the car.

I honestly don't think it will matter either way when you negotiate the new P/X price...they know you wont cancel the order or be able to take it anywhere else in such short notice, so they can offer what they like....you wont have a better negotiating position choosing one time point over the other...

The difference is about 5k miles right? Imagine they might offer you a few hundred more...if you're lucky...

 

[T-800]

Alloy Wheels

I have the 5 wing arm alloys on my S3. I have some kerbing and I need them fixed before I PX my car for the RS3. Are the wheels diamond cut or not? The rims are very shiny. I’ve put a couple of photos on here.

Obviously repairs on diamond cut are not quite so simple. And I’d want smart repair nothing fancy.

Finance

I’m trying to decide the best approach to my PX. I’ve saved exactly what I need based on the original conversation with the dealer when I placed my order - which is 15k. 10k for the neg equity and 5k for the car deposit.

My mileage right now is quite a bit below what I expected on my S3. As of today it’s 11k. I doubt I’d put more than 2k on before mid feb/March when the car arrives. The pricing we talked about originally was based on 17k mileage.

My question is - is it in my best interest to go to the dealer mid January when the car has left the factory and try and negotiate a final price for my neg equity and deposit. Or is it better to wait until the week before?

If it’s a month in advance and they want more than what we agreed they could suggest I have time to save some more. If it’s the week before they may be inclined to just try and make a deal that works better for me.

What do you think?

View attachment 145237View attachment 145238

You’d be better selling it to someone

I’d recommend Alan at A2B performance cars.

Clear the outstanding balance whatever it ends up at, then do a straightforward deal on the RS3.

 

[Daniel Knight]

I wouldn't negotiate because the chances are they will probably knock £500 off your deposit to make you think you're getting a deal.

What you could ask is that they contribute to your negative equity by reducing the value of the RS3 but this would of course increase your monthly payment, which assuming you pay the negative equity yourself plus your deposit and the fact you're going into a PCP should be a marginal increase.

The challenge you have is that your RS3 is a new order, if it were an existing unregistered car at a dealership you would have more negotiating power. The other thing is it's harder to sell a nearly new S3 with X number of miles when for a few grand more their customer could just buy a brand new one, hence the negative equity being so high. Audi are protecting themselves from any loss should they reduce the car for sale if it doesn't sell within 3/6/9 months etc.

My advice would be to keep the S3 for another 6/12 months, keep the 10K (go on a holiday lol) and revisit an RS3 when the residual value of your S3 has leveled out. It sucks but it'll be worth it in the long run.

This reply was longer than I intended lol

 

[wab172uk]

I doubt Audi will negotiate a better price. As stated, they may offer a few hundred more given the reduced millage as previously agreed.

The dealer will `want` your car, as they will advertise it on their forecourt for Thousands more than they give you for it. Take into account any repairs (alloys) chipped paint etc that they'll have to put right. It has a warranty, so no cost to them. They'll look to make min £5K off your car. Plus what they'll make off selling you the RS3. They'll be looking to may near £10K from your desperation. Sad but true.

I'd advise speaking to your dealer now. Get a price for March (they can do that, so don't take no for an answer) and then advertise it for sale, to get a few Thousand pounds more in your bank. Use that to increase your deposit to reduce your monthly payments. You may find another dealer may well ring you up and want to buy it. Happened to me with my old R8. Advertised it, and sold it to a dealer who rang up. First price offered was better than local dealer offered, but after a few telephone conversations, there offer increased by Thousands. Was within what I wanted, and I avoided tyre kickers and time wasters showing up on weekends, just wanting to drive an R8.

As suggested above, if all else fails, just hang onto the S3 for another 12 months or so to reduced the negative equity, or just hold onto the S3, which is a good car, and wait (save) for the next S/RS3 in a few years.

 

[RGBARGEE]

You do know you might as well set fire to £15000! Your money but as posted above I too think you are daft... maybe more direct than others but I suspect they will agree.

 

[Scottyg]

That’s mental neg equity to be even considering going for a new car. Unless you’ve won the lottery or you are so rich that 10k is a drop in the ocean then keep the S3. A’s has been said, you may as well set fire to a bundle of £50s!!!

 

[Spinstorm]

I understand everything everyone says but I really want the car... I am hopeful that the deposit decreases because the difference between the value of the car and neg equity is less due to my better mileage, but I just have to wait and see the actual amounts of money,

 

[RGBARGEE]

I understand everything everyone says but I really want the car... I am hopeful that the deposit decreases because the difference between the value of the car and neg equity is less due to my better mileage, but I just have to wait and see the actual amounts of money,

I do understand being obsessed about a car. I have a new RS4 arriving for 1 March delivery but if I can't sell my current two to fund it I will wait. It's a car for goodness sake!


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[Spinstorm]

I do understand being obsessed about a car. I have a new RS4 arriving for 1 March delivery but if I can't sell my current two to fund it I will wait. It's a car for goodness sake!


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I think that’s called a modest boast - someone ordered that RS4 quickly!

I can afford the car or I wouldn’t have the money saved - I totally agree its a lot and the neg equity is stupid but I can’t see that I will change my mind.
I however have 15K for the car and anymore than that I can’t afford.

 

[DrEskimo]

I think that’s called a modest boast - someone ordered that RS4 quickly!

I can afford the car or I wouldn’t have the money saved - I totally agree its a lot and the neg equity is stupid but I can’t see that I will change my mind.
I however have 15K for the car and anymore than that I can’t afford.

Sorry don't mean to pry...but when I think about it, £10k negative equity on a S3 after just a year seems awfully high...? Was it a very high spec, did you get a decent discount or did you roll over any other negative equity into this deal?

Doing some back of the fag calculations, a £40k S3, would be about £35k after discounts. If you put around £1k down and paid, say, £450 a month for the last 12months, that brings the balance down to £29k. Add about £2k in interest, so your settlement will be around the £31k region....so in this scenario, to have £10k neg. equity, they would have to offer you just £21k ...! As you can see, the trade in would have to be awfully cheap...!

 

[RGBARGEE]

Sorry don't mean to pry...but when I think about it, £10k negative equity on a S3 after just a year seems awfully high...? Was it a very high spec, did you get a decent discount or did you roll over any other negative equity into this deal?

Doing some back of the fag calculations, a £40k S3, would be about £35k after discounts. If you put around £1k down and paid, say, £450 a month for the last 12months, that brings the balance down to £29k. Add about £2k in interest, so your settlement will be around the £31k region....so in this scenario, to have £10k neg. equity, they would have to offer you just £21k ...! As you can see, the trade in would have to be awfully cheap...!

I think he said he'd had it 6 months. I would question the figures too! Seems an odd move given the S3 is a pretty good car. I certainly wouldn't lose £15k just by waiting a few months.


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[Spinstorm]

The car was £43k roughly - high spec. £46K before discounts. £41k on finance; £660 pm on 20k miles pa.

Based on a quick calculation online the car would have assuming march collection £37k left on finance. That doesn’t take into account the early settlement amount (whatever that is). The value of my car assuming 14k on it and the best PX price from Audi (on their site) is £26k so around £10k of negative equity. see attached image.

But its dependent on the actual amount to settle and PX value they give me. I hope its less than £10k obviously.

If my maths is wrong please correct me @DrEskimo

 

[DrEskimo]

The car was £43k roughly - high spec. £41k on finance; £660 pm on 20k miles pa.

Based on a quick calculation online the car would have assuming march collection £37k left on finance. That doesn’t take into account the early settlement amount (whatever that is). The value of my car assuming 14k on it and the best PX price from Audi (on their site) is £26k so around £10k of negative equity. see attached image.

But its dependent on the actual amount to settle and PX value they give me. I hope its less than £10k obviously.

If my maths is wrong please correct me @DrEskimo

Nope..looks spot on to me mate...
So a very high spec is the cause...!

Trade in is about what I would expect too...I'm guessing you could probably aim for around £30k using sale or return though? That, minus fees of £1,500, would put you at just £7,500 neg equity.

Could also try Tootle. I used them to sell my S5 and got what I would have hoped for on a sale or return from an indie dealer. Was ridiculously easy as well.

I mean, its your money buddy but that is a hell of a lot to pay...!

.....not wanting to profit from your misfortune...but I'm tempted to offer you £27k to get a ridiculously well specced S3 for a bargain price...!

 

[D0C]

Blimey, a £46k S3...sounds like it has every toy on it. Must be a lovely car. I'd remap it which will make it as fast as an RS3 and probably more playful. The thing you'll be missing is the noise but with the £15k saving you'll be making you can buy a VIP season ticket to a car club and listen to a Lambo V10 every other weekend instead!

 

[Spinstorm]

Blimey, a £46k S3...sounds like it has every toy on it. Must be a lovely car. I'd remap it which will make it as fast as an RS3 and probably more playful. The thing you'll be missing is the noise but with the £15k saving you'll be making you can buy a VIP season ticket to a car club and listen to a Lambo V10 every other weekend instead!

It is a super nice car - its just I want the 2.5l engine... because it is special.

 

[Jamie_88]

I shudder at the thought of paying 10k in negative equity. Utter madness but to each their own. Good luck which whatever you decide to do moving forward.

 

[BarryG79]

It is a super nice car - its just I want the 2.5l engine... because it is special.

I will say what’s been said already, *** £10k negative equity!

Each to their own, it’s your money after all. Personally I’d wait a couple of years and look to change then. Stick the £15k in the bank and monthly payments in 2yrs would be a lot less.

Re PX price, I’d get in sooner rather than later and get discussing figures. Also get it up on Pistonheads, Autotrader etc as you never know.

Heres a thought though......if current S3 is your ideal spec etc then why not just spend the £15k (might not cost that?!?) on an engine transplant


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[teslaboy]

Keep the S3 for 3yrs, sort the negative equity out, save a bit more and buy the new RS3 in 2021 !!

 

[wab172uk]

The car was £43k roughly - high spec. £46K before discounts. £41k on finance; £660 pm on 20k miles pa.

Based on a quick calculation online the car would have assuming march collection £37k left on finance. That doesn’t take into account the early settlement amount (whatever that is). The value of my car assuming 14k on it and the best PX price from Audi (on their site) is £26k so around £10k of negative equity. see attached image.

But its dependent on the actual amount to settle and PX value they give me. I hope its less than £10k obviously.

If my maths is wrong please correct me @DrEskimo

A £46K spec S3, and they're offering you £26k after only 6 months? Really?

Bit of a clean up, valet, sort the alloys out. Say £600 max spend by dealer. Up for sale for £35k within the week. Then make another £5k off you for the RS3. Wow! You'll be on their Christmas Card list for next year

Now you've gone through the figures, I think you're completely Bonkers to go through with this. You must have a hell of a salary, or still live at home with your parents?

Also bare in mind the additional costs running an RS3 over an S3. MPG will be in the early-mid 20's compared to 30's for the S3. Additional servicing costs, brakes, tyres etc. Then insurance will be more. If you can easily afford it, then great. But years ago, people were buying Subaru STI's, then quickly realised they cost a hell of a lot to run. Many ended up losing a fortune by selling quick to get rid.

If You're paying £660 pm now on £41, I assume once specced up the RS3 will be £52-55k. Minus £5k down. So monthly repayments £800+ pm?

But, if its what you want and affordable ......

 

[Jonny B]

It is a super nice car - its just I want the 2.5l engine... because it is special.

Go for it having negotiated the best you can. Life’s to short. This is an expensive hobby but an enjoyable one .ive chopped and changed cars all my life some shorter than 6 months. Could I have made better use of the money ? that’s just personal opinion I wouldn’t change a thing . When your on a decent road at full chat whether it be with the Audi 2.5 or anything else that takes your fancy the funding of it will be far from your mind, it always was from mine anyhow....good luck with the negotiations..I realise I haven’t answered your original post ..sorry...