RSQ3 Kyalami Green RSQ3 - Coming soon

[isleaiw]

Well said that man
RS4....nice! Didn’t you have a SQ5 not so long ago?

I did - sept 17 for 2 years. Then an M5 from Aug 19 for 11 months - bit pointless in lockdown, I work in hospitality, I admired it but didnt love it (and no room for the dog...)

Have spent last 3 months telling myself I didnt need another car, the Mini was fine, does everything I need, there is nothing I really want.... then in the space of about 10 hours late last week I bought a new Carbon Black edition with C&S, red brakes, RS exhaust and metallic... looking forward to collection (and the dog not setting the car alarm off by standing on the seats every time I leave her in the car!)

On the finance front I should be buying another property to rent out - but life is short, I am generally financially OK, and I make myself put as much into an ISA each month as I pay for my car... so better car, more saved right??

 

[isleaiw]

Yeah just a bit!
2 trains linked by the tube across London with the other half in her wheelchair and an overnight hotel stay, followed by a 240 mile drive back home in what was the wettest day for months.........but it was Soooo worth it!

Sent from my SM-N960F using Tapatalk

Should have said, I can do storming rates on hotels in London (seeing as we dont have corporate or overseas guests currently!)

 

[firecracker69]

I find with Audi these days that local loyalty counts for nothing and it's a case of finding the car you want/at the money you want to pay and be prepared to travel.

The new RSQ3 has been bought entirely on-line, I have a video of the actual car and there are tons of reviews out there - the 1st time I'll actually sit in the car will be tomorrow at 9am. The best review I found was an unsponsored one (the reviewers that have been lent cars for review are unlikely to tell the total truth because they can't be impartial to stay employed) I'm fairly certain that this guy bought it with his own money.

You mention the Audi APR rate - you'd have to be out of your tree to buy an Audi on a PCP deal....

Cor, I only ever buy on pcp but then again can’t afford not too nor keep long enough to worry I suppose!

Going to watch that video now! Thanks for the link!

I’ve watched so many videos now, but another non bias review are these guys:


I actually started following them, just opinions more than a review but entertaining regardless.

 

[firecracker69]

Thanks Ju! Yeah, slightly concerned, my trip is a mere 157 miles each way, your trek must have been even further.

Enjoy..... followed by feedback and pics please!

My trip is a little indirect but 268 miles to get there

Collection day is Wednesday next week!

 

[royalsteve68]

Hey all,

After getting rid of my 2019 RS5 and moving across to a BMW 330i I have to say after 3 months I'm back again!
I'm not going to put the car down, BUT, personally its very boring, appears cheap in some areas (imo) and I just miss the Audi brand and quality.

The intention was to move from the RS5 to save money; when in fact its actually cost me shed loads now making these changes!!

Anyway.... I know its not to everyone's taste I'm sure, but I collect my Kyalami Green Vorsprung RSQ3 within 2 weeks time. Its a 20 registration, 1 owner with only 1,500 miles on the clock!

Initial pictures below:

View attachment 210908 View attachment 210909 View attachment 210910 View attachment 210911


I have not test drove this, not seen the car in the flesh (metal), I know very little about them other than watching 'youtube' videos. From what I have seen it appears to be a very good car. I did toy with the S3 and RS3 but I think with the new ones around the corner I wanted something thats not going to be changing anytime soon and add to any depreciation.

I've no idea what this car looks like in real life, so any opinions on this or the car in general more than welcomed!

That's definitely an acquired colour taste. I think the vorspung edition black one looks great, but silly money.

 

[royalsteve68]

Hey all,

After getting rid of my 2019 RS5 and moving across to a BMW 330i I have to say after 3 months I'm back again!
I'm not going to put the car down, BUT, personally its very boring, appears cheap in some areas (imo) and I just miss the Audi brand and quality.

The intention was to move from the RS5 to save money; when in fact its actually cost me shed loads now making these changes!!

Anyway.... I know its not to everyone's taste I'm sure, but I collect my Kyalami Green Vorsprung RSQ3 within 2 weeks time. Its a 20 registration, 1 owner with only 1,500 miles on the clock!

Initial pictures below:

View attachment 210908 View attachment 210909 View attachment 210910 View attachment 210911


I have not test drove this, not seen the car in the flesh (metal), I know very little about them other than watching 'youtube' videos. From what I have seen it appears to be a very good car. I did toy with the S3 and RS3 but I think with the new ones around the corner I wanted something thats not going to be changing anytime soon and add to any depreciation.

I've no idea what this car looks like in real life, so any opinions on this or the car in general more than welcomed!

Does it come with this option?

 

[cosmicblue]

Enjoy..... followed by feedback and pics please!

My trip is a little indirect but 268 miles to get there

Collection day is Wednesday next week!

I'll do some interior photos later, looks fabulous in blue. Initial thoughts on seeing the car for real, has a 'chunky' presence, the standard 20" wheels look great up close, better than I expected, the silver coloured items add rather than detract from the appearance - like it, a lot.

Did all the handover stuff, wished I'd checked under the boot floor - jack and toolkit are missing, I have whinged.

Sat in the car-park for 20 minutes and got satnav programmed for the trip home, the touch sensitive User Interface is super slick, responsive and intuitive (unlike that b9 RS4 that I had - evil to use). The interior, the fabulous seats - with blue stitching and blue Alcantara is simple gorgeous, looked for the supposed crappy plastics and couldn't find any, maybe the front door pockets but they are heavily web-ribbed out of sight for rigidity and still feel like quality stuff - it's a genuinely nice place to be. The virtual cockpit is much improved over the B9 RS4 and now is much more logically laid out - there is a lot of information available concurrently and I need to have an extended tinker with it.

Got on the road with Drive Select set to Auto (will I ever learn?), it is just as unpredictable as the 8U. Steering is completely different, 'Progressive Steering', less steering input required at speed, feels much, much more responsive to the point of having to be recalibrate one's input. Ride quality on 20s is very similar to the 8U RSQ3, maybe a fraction firmer - cornering prowess is similar to the 8U, entertaining and fun. Brakes - 6 pot calipers vs the 8 pot Brembo jobs on the 8U, they are comparable formidable stoppers - very impressed and not expected.

Performance is similar, even when not trying it's swift, urgent, the exhaust system (no sports exhaust) set to 'Pronounced' in Drive Select delivers a nice low rumble, I haven't felt thus far that anything is getting artificially pumped through the B&O. Talking of which the B&O in the F3 sounds comparable to Bose in the 8U which is high-praise indeed - simply one of the best car-audio systems I've ever encountered.

It's clearly a great car and feels like a keeper - more to follow.

 

[JDHOWELLS]

I'll do some interior photos later, looks fabulous in blue. Initial thoughts on seeing the car for real, has a 'chunky' presence, the standard 20" wheels look great up close, better than I expected, the silver coloured items add rather than detract from the appearance - like it, a lot.

Did all the handover stuff, wished I'd checked under the boot floor - jack and toolkit are missing, I have whinged.

Sat in the car-park for 20 minutes and got satnav programmed for the trip home, the touch sensitive User Interface is super slick, responsive and intuitive (unlike that b9 RS4 that I had - evil to use). The interior, the fabulous seats - with blue stitching and blue Alcantara is simple gorgeous, looked for the supposed crappy plastics and couldn't find any, maybe the front door pockets but they are heavily web-ribbed out of sight for rigidity and still feel like quality stuff - it's a genuinely nice place to be. The virtual cockpit is much improved over the B9 RS4 and now is much more logically laid out - there is a lot of information available concurrently and I need to have an extended tinker with it.

Got on the road with Drive Select set to Auto (will I ever learn?), it is just as unpredictable as the 8U. Steering is completely different, 'Progressive Steering', less steering input required at speed, feels much, much more responsive to the point of having to be recalibrate one's input. Ride quality on 20s is very similar to the 8U RSQ3, maybe a fraction firmer - cornering prowess is similar to the 8U, entertaining and fun. Brakes - 6 pot calipers vs the 8 pot Brembo jobs on the 8U, they are comparable formidable stoppers - very impressed and not expected.

Performance is similar, even when not trying it's swift, urgent, the exhaust system (no sports exhaust) set to 'Pronounced' in Drive Select delivers a nice low rumble, I haven't felt thus far that anything is getting artificially pumped through the B&O. Talking of which the B&O in the F3 sounds comparable to Bose in the 8U which is high-praise indeed - simply one of the best car-audio systems I've ever encountered.

It's clearly a great car and feels like a keeper - more to follow.

The silver looks good with the grey, i agree about interior too, one of the reasons i think I’ll end up with this over whatever the new rs3 turns out like, this car has new tech inside the cabin, without as much of the penny pinching that has occurred inside the new a3/s3 - I cant get cant passed the fact the new a3 has exposed metal work around the inside of the windows... something I’d expect in a Vauxhall or a ford etc..

Not jealous at all....


Sent from my iPad using Tapatalk

 

[NevMan]

Looks awesome, sounds like you are chuffed...job done!

 

[A3simon]

Looks great in Daytona and all the matte alu works well. The standard wheels actually look good on it. Never liked that style on the 8U but they work well on the F3


Sent from my iPad using Tapatalk

 

[isleaiw]

I'll do some interior photos later, looks fabulous in blue. Initial thoughts on seeing the car for real, has a 'chunky' presence, the standard 20" wheels look great up close, better than I expected, the silver coloured items add rather than detract from the appearance - like it, a lot.

Did all the handover stuff, wished I'd checked under the boot floor - jack and toolkit are missing, I have whinged.

Sat in the car-park for 20 minutes and got satnav programmed for the trip home, the touch sensitive User Interface is super slick, responsive and intuitive (unlike that b9 RS4 that I had - evil to use). The interior, the fabulous seats - with blue stitching and blue Alcantara is simple gorgeous, looked for the supposed crappy plastics and couldn't find any, maybe the front door pockets but they are heavily web-ribbed out of sight for rigidity and still feel like quality stuff - it's a genuinely nice place to be. The virtual cockpit is much improved over the B9 RS4 and now is much more logically laid out - there is a lot of information available concurrently and I need to have an extended tinker with it.

Got on the road with Drive Select set to Auto (will I ever learn?), it is just as unpredictable as the 8U. Steering is completely different, 'Progressive Steering', less steering input required at speed, feels much, much more responsive to the point of having to be recalibrate one's input. Ride quality on 20s is very similar to the 8U RSQ3, maybe a fraction firmer - cornering prowess is similar to the 8U, entertaining and fun. Brakes - 6 pot calipers vs the 8 pot Brembo jobs on the 8U, they are comparable formidable stoppers - very impressed and not expected.

Performance is similar, even when not trying it's swift, urgent, the exhaust system (no sports exhaust) set to 'Pronounced' in Drive Select delivers a nice low rumble, I haven't felt thus far that anything is getting artificially pumped through the B&O. Talking of which the B&O in the F3 sounds comparable to Bose in the 8U which is high-praise indeed - simply one of the best car-audio systems I've ever encountered.

It's clearly a great car and feels like a keeper - more to follow.

Stunning. Not sure it looks as “pumped” as I would expect an RS to, but that is a good thing...

interested in the differences between user interface and virtual cockpit versus the RS4 - partly as I have a FL on order to collect soon.

 

[cosmicblue]

Congrats on the RS4 FL - from the reviews I've read it would appear that Audi have addressed the MMI shortfalls of the 1st gen B9, counter-intuitive would be polite...I'm tech savy/work in high in IT and can grasp most things of this nature. The latest generation, also in the RSQ3 has a consistent user interface with a highly responsive screen so is very fast/slick entering a route into navigation for example is easy and matched by the voice command "Drive to" which seems to work flawlessly.

 

[isleaiw]

Congrats on the RS4 FL - from the reviews I've read it would appear that Audi have addressed the MMI shortfalls of the 1st gen B9, counter-intuitive would be polite...I'm tech savy/work in high in IT and can grasp most things of this nature. The latest generation, also in the RSQ3 has a consistent user interface with a highly responsive screen so is very fast/slick entering a route into navigation for example is easy and matched by the voice command "Drive to" which seems to work flawlessly.

thanks for the update. I am definitely not tech savvy, the good news is I am a sort of set and forget type....

more updates on the new motor and pics of interior always welcomed.

 

[cosmicblue]

Thanks isleaiw - I have a thread going on the Q3 owners club forum: https://www.q3ownersclub.co.uk/threads/got-it-std-2020-rsq3.6707/, I will post interior pics there later today....tis gorgeous with blue honeycomb stitched seats and blue alcantara panels on the shoulders of the RS seats. The interior, fascia etc is more current Audi design language style with a central integrated high resolution touch display and the VC instrument panel.

 

[isleaiw]

Thanks, now read and will read later to see interior pics. I was torn between RS4 and RS Q3 but I am more the dog will manage the jump into an SUV boot for much longer - and I don’t want to have to swap early again due to incompatibility with my 4 legged best friend.

that does look stunning - will always have a soft spot for Daytona as my first A6 was that colour....

 

[firecracker69]

Congrats!!
Looks lovely mate.... and really appreciate the detailed post as well.
Look forward to hearing more and seeing more when you have the time to post!

I’m really peeved at the moment, started digging out docs last night ready for Wed and I’ve got no V5 for my BMW. Don’t ever remember it coming now I think about it but regardless of what’s happened, I don’t have it. Waiting to hear from the dealer as to my options, nightmare!
Can’t order a new V5 online, for some reason I have to write to them and bla bla going to take weeks...... just hoping there is another solution.

 

[NevMan]

Congrats!!
Looks lovely mate.... and really appreciate the detailed post as well.
Look forward to hearing more and seeing more when you have the time to post!

I’m really peeved at the moment, started digging out docs last night ready for Wed and I’ve got no V5 for my BMW. Don’t ever remember it coming now I think about it but regardless of what’s happened, I don’t have it. Waiting to hear from the dealer as to my options, nightmare!
Can’t order a new V5 online, for some reason I have to write to them and bla bla going to take weeks...... just hoping there is another solution.

Nightmare mate, so not liking your post. Hopefully you can sort something, but I would have thought it would be tricky without V5

 

[firecracker69]

Nightmare mate, so not liking your post. Hopefully you can sort something, but I would have thought it would be tricky without V5

All is not lost.... cant say any more at the moment but collection is still on!

Once collected I can divulge the detail, until then I can't.

Will follow up with pics upon collection!

 

[cosmicblue]

Fabulous, look forward to seeing the pics!

 

[NevMan]

Great news

 

[RGBARGEE]

I am the same, buying an RS4 from a dealer 130 miles away and have a video and pictures of the car but never seen it, only 10 days to go. Its new, its warrantied and if there is anything wrong I will get it fixed or they will get it back - but so far I have to say everything about the dealer (Stoke Audi) has been first rate.

Now about the finance - the APRs are rubbish.... but you get a contribution to buy on finance so I would say you have to be mad not to buy on PCP these days. Whether it stays that way will depend on how cash rich I feel and whether I think other investments that would need to be sold will do better over next couple of years than the APR costs. And of course, whether I think the GFV will come in to play to protect my asset value in 4 years if I want to walk away.... a few extra quid in interest is nothing compared to a £5k or £10k bath on residuals.....

Maybe I am not out of my tree after all, you know, being a numbers man for a living!

I’m on my second B9 RS4 one of the best Audis ever imho.

 

[Bigfoot]

Love the colour and what a motor

 

[cosmicblue]

PCPs

For those who buy cars on PCP - deposit, a few hundred a month, kind of thing, optional final payment (there is no guaranteed minimum future value these days - it's just an estimate) or give the car back and start over again - there are few facts that tend to get lost in the excitement of a new toy.

Dealer finance is easy - the business manager is right there in the showroom, they are all over you, making you feel special, helping you feel that you are getting a good deal and making a sound decision. It's sales....and making the customer feel good about the decision, signing on the line is what it's all about. The customer is emotionally vulnerable too - wanting to give the new baby/pride and joy a good start in life so a really good time to tuck them up with fancy polish applied in the cleaning bay, lets have the interior protection and the alloy wheel insurance oh yes better have GAP too - so then clawing back the margin they just gave away as 'discount'.

Am I cynical, have I been screwed over like this a few times? (the place the Devil resides in) yes! Especially with PCP deals. I have learned from the experience:

So on a PCP you put down a deposit, usually a few thousand pounds plus whatever trade-in equity you have got (if any), you then pay several hundred pounds a month for a vehicle you'll never own because at the end of the term there will be a final payment to make (which you most likely can't afford) so you give the car back and start all over again.

At the end of the term of each car you will have lost a lot of money:

All of your deposit (down payment plus equity in the PX)
All of the cost of the options
All of the cost of the 'extras' i.e. paint protection, GAP etc.
All of the VAT in the original purchase
All of the monthly payments

And you have nothing to show for it at the end - no physical asset, i.e. the car owned outright.

The raw realisation of the above sends a shiver down one's spine - because we are all car buffs (hence being here) we tend to get lost in the excitement of choosing a car, arriving at spec, test drives and visiting the dealer - the whole buying experience and yet financially it is an absolutely terrible decision. By the very fact one chooses to buy a car in this way is testament to not being able to afford it financially and one is truly stiffed in the process too.

Is there a solution?

Well - if you accept that car purchases are a poor use of money anyway the options are:

1) Buy the car on finance (to get the best possible deal) and then within 30 days pay the finance off in total with a bank loan with the objective of owning the vehicle outright over a longer term - that way you'll have an asset with a value at the end though you will still have lost a serious chunk of change at the end. Bank loan rates are around half those that the dealer charges.

Or a little more rationally:

2) Find a new vehicle with a massive discount (not easy) or buy used, low mileage at say 9-10 months old after the initial depreciation hit has been taken. Bought my B9 Audi RS4 at 10 months old/6,000 miles - £25k less than it's purchase price, the previous RSQ3 was 9 months old/3,000 miles and had lost £17k. Those are serious losses for the original purchaser - I lost a mere £800 on the RS4 in 6 months when I traded. Fund the purchase the same way as (1) above.

3) Some people have some weird/shallow idea that having the latest registration plate sat on the drive is a badge of honour (might be a sign of something else?) if that bothers you then but a £250 personal plate from the DVLA instead.

4) Keep what you have and ride the storm out - least possible financial loss.

The Elephant(s) in the room
1) We are headed into a global recession with economic uncertainty ahead.
2) Many PCPs are typically 4 years in duration and the automotive world is on the tipping point of switching to EVs (lack of infrastructure worries accepted), so by late 2024 a used IC engine powered car is likely to be less attractive than now. The Covid-19 lockdown has given the planet a sniff of a low vehicle pollution environment so we could expect further pressure on our tools of pleasure....yeah

With apologies for being so depressing - I have appreciated people in the past who buy hi-spec cars and vigorously tick the options list...


On the subject of using a PCP or cash:

1) Don't forget that when you PCP a car the monthly payment only funds the difference between the purchase price and the projected (there are no GFVs) future value of the vehicle at the end of the term (with caveats over agreed mileage and condition attached). So despite being positioned as a purchase method it's really much closer to a rental with an option to buy at the end. Despite the usual assurances from the dealer business manager based on past experience its unlikely that there will be equity in the vehicle at the end of the term as we move forward in our 'new' world.

2) When you apply pressure in the showroom over the deal numbers - say things like 'I have concerns over affordability' they will likely disappear and come back with a lower monthly number - either they opt for a special, lower interest rate (so the 1st was a try-on) or they will mess with the projected future value so you need to apparently borrow less money...decreasing the chance of the 4 year old car having any trade-in equity. In the back office the business manager's primary role is to protect profit margin for the dealership - it's your money.

3) The vehicle remains the property of the finance company until you make the final payment. It's the same for HP - though you'll be funding the vehicle in it's entirety on HP. Dealer provided Finance money is expensive - dealership convenience vs value-for-money.

4) Money to a financial institution is a 'product' like a tin of beans. They can decide what return they want from the 'product' with the effect that chunks of money are released with an associated interest rate. It pays to shop around and buy the 'product' at the most competitive price.. look at sites like moneysupermarket.com and of course your own bank.

5) If you clear an a dealer Finance company loan using cash then you'll get a letter saying that they have no further interest in the vehicle - the vehicle is totally yours. If you do fund a vehicle with a bank loan - not a totally daft idea as money is 'cheap' at the moment you can also over-pay and shorten the overall term - you'll have an asset at the end with a real monetary value which will make the next car purchase much less expensive.

 

[isleaiw]

Very long and very detailed, but a few thoughts from me...

Buying any expensive car is a bad investment - not only depreciation but running costs that have to be found. If you are bothered about cash, buy a cheap car. If your car is a hobby and an interest as well then read on...

When you pay cash, you have the opportunity cost of what that cash could be doing elsewhere. Most of us dont have £50 to £70k sat in a bank account, a few are lucky enough to have that available but if they didnt buy a car, would it be sat earning 0.01% in a bank? probably not. It might be invested in your pension fund (tax relief available to, so if you can why not) or perhaps an ISA or property. If that investment can return more than the finance cost then you might want to borrow the money and leave your investments alone (remembering there are invariably some form of deal fees for converting your investments to cash).

If you get paid a car allowance monthly, there is also something kind of satisfying about using the money in monthly to fund the money out monthly.... so some form finance repayment....

You are unlikely to be able to borrow enough to buy a high priced car - you can get £25k relatively cheap if you are a good risk but more than that starts getting pricier. Halifax will lend you £60k on a flexible finance scheme with a balloon - but the APR is 5% so not that cheap and the balloon has no guarantees, so if your car is next to worthless then you still have to pay it...

Speaking of which, I dont get the point about the final payment not being a guaranteed value anymore..... if you owe £30k on your car and can walk away without paying another penny, with no repercussions on you, then surely that is the guaranteed value the finance company are assigning to it? They have changed the name so people dont incorrectly assume its worth that to anyone else....

Buying secondhand will be cheaper than buying new - unless the dealer is offering finance incentives on the new one and a special interest rate. My last M5 was funded on PCP and bought new - because the massive contribution from the dealer and manufacturer along with 2.9% finance meant it was cheaper over 4 years than a 2 year old car would have been on 7% finance, and taking into account the future values that were in place which limited the depreciation....

Agree that you never negotiate on monthlies and always on the two elements that make up the deal, interest rate and purchase price. Most residuals are set by the finance company and there is no room to manipulate at dealer level....

Dont buy the add ons at the dealer - always get on line prices and see if they can match for the same product. Dont let them add paint protection, their valeters are car washers not detailers, and will be time constrained not quality judged....

Ultimately its an expensive hobby, but if you can afford it and you know what you are in for then it also brings a lot of fun. I have bought outright, bought on a bank loan, PCP'd - it all depends what works at the time. When you have young kids and nursery fees paying outright is a pipe dream. When you get older and have fewer outgoings and generally more coming in you have more options. I could have paid cash for my new car (lucky me - its taken me 35 years to be able to say that!) but it would have left me cash short in a world of uncertainty. I also want cash to invest in available assets if we do get a downturn in shares and property. So I'm PCPing with 20% deposit and will trust my investments do better than the PCP rate. I will overpay my PCP by the allowed amount as and when I can and possibly buy it out altogether - if I like it and I dont think there is value in the guaranteed future value it contains.....

As always, horses for courses, I am an accountant and my son in law works for a dealer group so I reckon between us we have the buying lark sussed - but its still down to individual circumstances. His are best - a new car every 4 months or so, insured, for about a couple of hundred quid a month. No company car tax either!

 

[45bvtc]

PCPs

For those who buy cars on PCP - deposit, a few hundred a month, kind of thing, optional final payment (there is no guaranteed minimum future value these days - it's just an estimate) or give the car back and start over again - there are few facts that tend to get lost in the excitement of a new toy.

Dealer finance is easy - the business manager is right there in the showroom, they are all over you, making you feel special, helping you feel that you are getting a good deal and making a sound decision. It's sales....and making the customer feel good about the decision, signing on the line is what it's all about. The customer is emotionally vulnerable too - wanting to give the new baby/pride and joy a good start in life so a really good time to tuck them up with fancy polish applied in the cleaning bay, lets have the interior protection and the alloy wheel insurance oh yes better have GAP too - so then clawing back the margin they just gave away as 'discount'.

Am I cynical, have I been screwed over like this a few times? (the place the Devil resides in) yes! Especially with PCP deals. I have learned from the experience:

So on a PCP you put down a deposit, usually a few thousand pounds plus whatever trade-in equity you have got (if any), you then pay several hundred pounds a month for a vehicle you'll never own because at the end of the term there will be a final payment to make (which you most likely can't afford) so you give the car back and start all over again.

At the end of the term of each car you will have lost a lot of money:

All of your deposit (down payment plus equity in the PX)
All of the cost of the options
All of the cost of the 'extras' i.e. paint protection, GAP etc.
All of the VAT in the original purchase
All of the monthly payments

And you have nothing to show for it at the end - no physical asset, i.e. the car owned outright.

The raw realisation of the above sends a shiver down one's spine - because we are all car buffs (hence being here) we tend to get lost in the excitement of choosing a car, arriving at spec, test drives and visiting the dealer - the whole buying experience and yet financially it is an absolutely terrible decision. By the very fact one chooses to buy a car in this way is testament to not being able to afford it financially and one is truly stiffed in the process too.

Is there a solution?

Well - if you accept that car purchases are a poor use of money anyway the options are:

1) Buy the car on finance (to get the best possible deal) and then within 30 days pay the finance off in total with a bank loan with the objective of owning the vehicle outright over a longer term - that way you'll have an asset with a value at the end though you will still have lost a serious chunk of change at the end. Bank loan rates are around half those that the dealer charges.

Or a little more rationally:

2) Find a new vehicle with a massive discount (not easy) or buy used, low mileage at say 9-10 months old after the initial depreciation hit has been taken. Bought my B9 Audi RS4 at 10 months old/6,000 miles - £25k less than it's purchase price, the previous RSQ3 was 9 months old/3,000 miles and had lost £17k. Those are serious losses for the original purchaser - I lost a mere £800 on the RS4 in 6 months when I traded. Fund the purchase the same way as (1) above.

3) Some people have some weird/shallow idea that having the latest registration plate sat on the drive is a badge of honour (might be a sign of something else?) if that bothers you then but a £250 personal plate from the DVLA instead.

4) Keep what you have and ride the storm out - least possible financial loss.

The Elephant(s) in the room
1) We are headed into a global recession with economic uncertainty ahead.
2) Many PCPs are typically 4 years in duration and the automotive world is on the tipping point of switching to EVs (lack of infrastructure worries accepted), so by late 2024 a used IC engine powered car is likely to be less attractive than now. The Covid-19 lockdown has given the planet a sniff of a low vehicle pollution environment so we could expect further pressure on our tools of pleasure....yeah

With apologies for being so depressing - I have appreciated people in the past who buy hi-spec cars and vigorously tick the options list...


On the subject of using a PCP or cash:

1) Don't forget that when you PCP a car the monthly payment only funds the difference between the purchase price and the projected (there are no GFVs) future value of the vehicle at the end of the term (with caveats over agreed mileage and condition attached). So despite being positioned as a purchase method it's really much closer to a rental with an option to buy at the end. Despite the usual assurances from the dealer business manager based on past experience its unlikely that there will be equity in the vehicle at the end of the term as we move forward in our 'new' world.

2) When you apply pressure in the showroom over the deal numbers - say things like 'I have concerns over affordability' they will likely disappear and come back with a lower monthly number - either they opt for a special, lower interest rate (so the 1st was a try-on) or they will mess with the projected future value so you need to apparently borrow less money...decreasing the chance of the 4 year old car having any trade-in equity. In the back office the business manager's primary role is to protect profit margin for the dealership - it's your money.

3) The vehicle remains the property of the finance company until you make the final payment. It's the same for HP - though you'll be funding the vehicle in it's entirety on HP. Dealer provided Finance money is expensive - dealership convenience vs value-for-money.

4) Money to a financial institution is a 'product' like a tin of beans. They can decide what return they want from the 'product' with the effect that chunks of money are released with an associated interest rate. It pays to shop around and buy the 'product' at the most competitive price.. look at sites like moneysupermarket.com and of course your own bank.

5) If you clear an a dealer Finance company loan using cash then you'll get a letter saying that they have no further interest in the vehicle - the vehicle is totally yours. If you do fund a vehicle with a bank loan - not a totally daft idea as money is 'cheap' at the moment you can also over-pay and shorten the overall term - you'll have an asset at the end with a real monetary value which will make the next car purchase much less expensive.

We've always found paying out the £s much easier, if we don't have the £s then we don't buy it, period - we drive what we can afford

Sometimes buying and driving LESS can be an awful lot MORE in the long term

 

[isleaiw]

We've always found paying out the £s much easier, if we don't have the £s then we don't buy it, period - we drive what we can afford

Sometimes buying and driving LESS can be an awful lot MORE in the long term

Just because you dont pay the £s doesnt mean you cant afford it.... and equally really rich people drive 15 year old golfs as they have more sense than waste money on cars!

I have a simple rule - if I buy my car on tick, I have to put the same amount of money each month into a stocks and shares ISA. At the worst that means I should have the money to pay the balloon at the end by the time it is due. Of course after a while you start the new one with enough money to buy the car outright... but the investment gains fund the car losses.....

 

[RGBARGEE]

@cosmicblue You have quoted ‘Bought my B9 Audi RS4 at 10 months old/6,000 miles - £25k less than it's purchase price,’

I’m amazed at your figures. My B9 experience is somewhat different.

March 2018 well specified B9 RS4 £61k after discount. Sold £55k September 2019.
Bought new audi sport edition RS4 again for £61k. I really don’t know how anyone can lose 25% in 8 months!

 

[45bvtc]

and equally really rich people drive 15 year old golfs as they have more sense than waste money on cars!

I do so agree.

 

[isleaiw]

@cosmicblue You have quoted ‘Bought my B9 Audi RS4 at 10 months old/6,000 miles - £25k less than it's purchase price,’

I’m amazed at your figures. My B9 experience is somewhat different.

March 2018 well specified B9 RS4 £61k after discount. Sold £55k September 2019.
Bought new audi sport edition RS4 again for £61k. I really don’t know how anyone can lose 25% in 8 months!

Did you pay list for either of your cars? I presume that level of loss is comparing list price to the purchase price secondhand and then maybe allowing a dealer margin in to it....

I ran my M5 for 11 months for less than half of that loss....6k miles too!

 

[A3simon]

For me the way that works best is I take the car on PCP and put in a decent deposit. Then after a couple months I pay off all the monthly payments therefore removing the interest without putting all my cash into the car. Then I save up what would of been the payments and I can buy it at the end or I have deposit for next car. Done the same with all my bikes but I keep them at the end.


I did pretty well discount wise on the RSQ3 as I got 10% off a vorsprung 3 weeks after launch.

Sent from my iPad using Tapatalk

 

[cosmicblue]

@cosmicblue You have quoted ‘Bought my B9 Audi RS4 at 10 months old/6,000 miles - £25k less than it's purchase price,’

I’m amazed at your figures. My B9 experience is somewhat different.

March 2018 well specified B9 RS4 £61k after discount. Sold £55k September 2019.
Bought new audi sport edition RS4 again for £61k. I really don’t know how anyone can lose 25% in 8 months!

The RS4 had almost the entire options list....which didn't help, the dealer doesn't want the VAT aspect of the value of the car either - was £85k's worth of car and I paid £59,900. After I bought it the used B9 RS4 prices actually improved - production stopped because of WLTP, which helped a bit, certainly when I parted with it. The previous 8U RSQ3 they were known to depreciate horrendously in the 1st year (probably still do!), the market is decidedly niche for compact SUV's where the target market is the school run wagon doing lots of short journeys so perfect diesel territory - not surprising then that RSQ3 with high running costs lose money rapidly.

 

[NevMan]

Have the wife's Cooper S on 24 months @ 0%, so a no brainer to take the PCP. Also put down £7k, so payments under £200 p/m, and then have the choice to pay the £15k payment after 2 years and own, or do something else.

I don't want to get into a whole debate about PCP/Finance etc, but a very good note there from @isleaiw

 

[RGBARGEE]

The RS4 had almost the entire options list....which didn't help, the dealer doesn't want the VAT aspect of the value of the car either - was £85k's worth of car and I paid £59,900. After I bought it the used B9 RS4 prices actually improved - production stopped because of WLTP, which helped a bit, certainly when I parted with it. The previous 8U RSQ3 they were known to depreciate horrendously in the 1st year (probably still do!), the market is decidedly niche for compact SUV's where the target market is the school run wagon doing lots of short journeys so perfect diesel territory - not surprising then that RSQ3 with high running costs lose money rapidly.

That’s some options. I had Roof, 19in, comfort and sound, tyre monitor, interior lights and list was 67. I paid 66. What on earth was on yours for nearly £20k more. My loss over 18 months was around 300 a month when factoring road tax. Currently 69 plate with C&S pack for sale at £59k .

 

[firecracker69]

Wow... this Topic got heavy!

I’ve realised that whatever I buy loses money and a lot as I don’t keep for long. I personally like a newer reg, lowest miles possible and the piece of mind of having warranty. That’s just me and I no doubt pay for it.

My RS5 was 72 new, I bought pre reg for 58 and 7 months later on 1,800 miles sold for 49.
So 9k lost. BMW paid 32, then 3 months later now trading for 26, so another 6k. Total 15k in 10 months..... so what....
We all have our money pits, mine is cars, other people might be on drinking, smoking or some kind of sport, but I don’t spend on anything else so that’s how I justify mine.

This RSQ3 will no doubt lose 8k come early next year I’m guessing, RS models and the Vorsprung spec do generally hold a little better (I hope) but for now it’s a car I want, pcp makes it affordable for me personally and any residual value (or not) I’ll deal with next year lol.
For now, just looking forward to collecting and having some fun - even if expensive fun!

 

[NevMan]

Wow... this Topic got heavy!

I’ve realised that whatever I buy loses money and a lot as I don’t keep for long. I personally like a newer reg, lowest miles possible and the piece of mind of having warranty. That’s just me and I no doubt pay for it.

My RS5 was 72 new, I bought pre reg for 58 and 7 months later on 1,800 miles sold for 49.
So 9k lost. BMW paid 32, then 3 months later now trading for 26, so another 6k. Total 15k in 10 months..... so what....
We all have our money pits, mine is cars, other people might be on drinking, smoking or some kind of sport, but I don’t spend on anything else so that’s how I justify mine.

This RSQ3 will no doubt lose 8k come early next year I’m guessing, RS models and the Vorsprung spec do generally hold a little better (I hope) but for now it’s a car I want, pcp makes it affordable for me personally and any residual value (or not) I’ll deal with next year lol.
For now, just looking forward to collecting and having some fun - even if expensive fun!

Well said that man

 

[cosmicblue]

I have wasted a small fortune on cars, and motorcycles over the years, when the primary hobby, rather too late in life at 50, became clay shooting I discovered that decent shotguns hold their value rather better than motor vehicles...darn!

 

[cosmicblue]

That’s some options. I had Roof, 19in, comfort and sound, tyre monitor, interior lights and list was 67. I paid 66. What on earth was on yours for nearly £20k more. My loss over 18 months was around 300 a month when factoring road tax. Currently 69 plate with C&S pack for sale at £59k .

Imagine the every option on the list ticked, even the incredibly useful 174mph upgrade - the lot.

 

[RGBARGEE]

Imagine the every option on the list ticked, even the incredibly useful 174mph upgrade - the lot.

I can’t see how you get to £85k - Bonkers - must be a dealer purchase or someone with more money than sense.

 

[firecracker69]

Well here we are!

Not the best of pictures yet but quick snaps from earlier.

 

[firecracker69]

Initial impressions:

Its heavy. I noticed when I first pulled away it felt like it needed extra revving to get it moving, but then again coming from non SUV perhaps this is normal. Also it was in auto mode so not overly responsive.

There is quite a delay on throttle response, and not just a little, its actually quite big and surprising. This delay reminds me of my S5, but moving to the RS5 solved that issue, but not in the RSQ3.
However, you can drive around this by putting everything in RS dynamic or stick into manual and shift change yourself keeping the revs a bit higher.

It is dead comfy, I mean this is a motorway eater and in comfort I averaged 31mpg.
It has all the toys so played a little.

Now what you want to hear......
Dynamic, instantly this thing turns into a beast. The note changes, it becomes loud, and it shifts! I was coming through some tunnels in Birmingham and obviously opened it up (within speed limit of course) and ****** hell it echoed!

I noticed unlike the RS5 the back on this drops when accelerating which surprised me for a quattro? Almost felt rear bias which is opposite to them being front wheel bias?

It gets a lot of looks!! People slowing down on the motorway to get level and pearing in, felt weird, but then again its a unique car and colour! Lol

Thats it so far, not much more to add. What is obvious is you can drive this like any other normal car, numb it all down including sound and despite the colour stay under the radar. But when opened up you can quickly turn this into the hulk and unleash!