New S3

[OliS3]

It would of made the monthly payments cheaper as the car would be worth more. Mines £14000 so still sounds like a better deal

 

[Scottk]

Normally an extra £1000 will only reduce payment by £10/month.

I got an extra grand of Audi and payments went for £394 original quote down to £384.

We were told yesterday (by an Audi salesman) that every £1000 takes £24 off the monthly payments and when he put the figures in that was indeed the case.

 

[Soulboy]

And the main thing is, they are holding their used values quite well. I always work on the assumption of losing half over 3 years.

Cheapest 8V S3 I could find on a quick search on Auto Trader is £22k. Thats a 63 plate with 65k on the clock!

Mine is up in a year (3 year PCP Feb 2014ish) and I would hope to get back at least £20k+ as only doing about 8k miles pa. That would be well over 50% of cost.

The GFV was about £17k/50% of new cost (paid £3600 deposit.....which I have also just been lobbing £100pm to one side to replace over 3 years anyway).

So I will prob buy it out at end of term, MOT it and get an extended Audi warranty, then have a look round for next car with no rush and decide how to finance depending on what I get and deals available.

 

[Demari46]

Hi Natalie

Seen as the facelift model is due at the end of 2016 I'd be after a better deal than you've been offered. I've just got almost 5k off the price of a fully loaded s3, I think it was around 14%

Go on carwow and Get a quote with all the options. It should be around a 13.8% reduction in price. Take this offer to your local dealer and tell them you'll do a deal there and then if they match the offer. Also ask for gap insurance to be thrown in with the deal at no extra cost. Don't take any paint protection packs as they are not worth. Also ask for a free first service and a tank of fuel. Tell them all this and you'll sign the agreement good luck

 

[NatalieBx]

Afraid only you can really answer that! Discount seems good so its likely to be the cheapest you'll get a new S3 for. Whether the S3 is worth that much is for you to decide Playing around with the deposit and monthlies is really just down to how you want to pay for it...

I was actually looking at a S3 Saloon at the same time as my S5. Personally had a harder time justifying the price for an S3 (discounts were pretty slim back then), but the deal for my S5 isn't very far off what you have been offered (slightly higher deposit), and is over 24months, which I am more comfortable with.

How is it more expensive than the S5?

 

[NatalieBx]

Just for something to compare to, I ordered a pretty much standard S-Tronic Hatchback, with Nav.

£290 p/m, £3k down, 9000 miles p/a, over 48 months.

So yours doesn't sound bad at all for a Saloon, with a few options

As Oli said above, S-Tronic?

It's a Sportback not a saloon, and yes it's S tronic. The dealer keeps pestering me so hopefully I can get more off the price.

 

[NatalieBx]

Hi Natalie

Seen as the facelift model is due at the end of 2016 I'd be after a better deal than you've been offered. I've just got almost 5k off the price of a fully loaded s3, I think it was around 14%

Go on carwow and Get a quote with all the options. It should be around a 13.8% reduction in price. Take this offer to your local dealer and tell them you'll do a deal there and then if they match the offer. Also ask for gap insurance to be thrown in with the deal at no extra cost. Don't take any paint protection packs as they are not worth. Also ask for a free first service and a tank of fuel. Tell them all this and you'll sign the agreement good luck

Thanks for this the biggest discount I got on Car wow was 12% so I'm going to be asking the dealer to match that rather than the 10% he's offered me, wish me luck lol.

 

[DrEskimo]

How is it more expensive than the S5?

Sorry I mean my deposit was higher. Same monthlies but I put in £6000 and its over 24months. Price is higher, but got a higher discount meaning the difference between price and GFV is probably similar.

Maybe being optimistic, but hoping to have at least £3000 at the end of the deal in 'equity' (based on used prices it doesn't seem that unrealistic at the moment), so overall cost seems pretty similar....

 

[S32B]

So I've been offered a deal on an S3 I can have on 1st March, I just want to know if it's a good deal or if he's just trying to get the sale.

I wanted a 3 year deal but he said a 4 year is better to keep the payments down, he also said set the mileage lower as it apparently doesn't make much of a difference to the equity at the end?? He said they will usually ring after 3 years to see if I want to change the car, but if I did this would I even have any equity in the car? Especially as the car will be the pre facelift version?

He said he's took 10% off the price with a £1000 dealer contribution. He wants a £3500 deposit off me and £367 a month after that. Is this a good deal? And will I definitely be able to change the car after 3 years without it affecting future credit?

To give you an idea: I got a 3 door hatch, comfort pack, park system plus, cruise control and folding door mirrors. I put £1000 down and it came to £380 per month over 4 years with 8,000 miles per year. He said they would be chasing me to change at 24 months. Oh and I got 10.5% off the price of the car at the time....the interest rate has also dropped slightly since then.

 

[NatalieBx]

Sorry I mean my deposit was higher. Same monthlies but I put in £6000 and its over 24months. Price is higher, but got a higher discount meaning the difference between price and GFV is probably similar.

Maybe being optimistic, but hoping to have at least £3000 at the end of the deal in 'equity' (based on used prices it doesn't seem that unrealistic at the moment), so overall cost seems pretty similar....

I should have gone for an S5! Haha. Just don't know what to do it's hard.

 

[NatalieBx]

To give you an idea: I got a 3 door hatch, comfort pack, park system plus, cruise control and folding door mirrors. I put £1000 down and it came to £380 per month over 4 years with 8,000 miles per year. He said they would be chasing me to change at 24 months. Oh and I got 10.5% off the price of the car at the time....the interest rate has also dropped slightly since then.

I asked for more of a discount and he said he doesn't think they can budge but he would ask anyway... I don't know what to do.

 

[batch]

I asked for more of a discount and he said he doesn't think they can budge but he would ask anyway... I don't know what to do.

If they say no, go on to Carwow and go with whoever gives you the best deal - a trip to collect the new car isn't a big issue!

 

[Whitestar]

I asked for more of a discount and he said he doesn't think they can budge but he would ask anyway... I don't know what to do.

Just walk away & get it through Carwow or a similar site, don't forget you will then be able to spec what you want rather take what's on the stock car.

 

[MattB1989]

If they say no, go on to Carwow and go with whoever gives you the best deal - a trip to collect the new car isn't a big issue!

They even do delivery!

 

[NatalieBx]

If they say no, go on to Carwow and go with whoever gives you the best deal - a trip to collect the new car isn't a big issue!

I know but I would have to wait all over again for a factory order.

 

[DrEskimo]

I should have gone for an S5! Haha. Just don't know what to do it's hard.

Haha...well yes I agree, but I'm probably a bit biased

 

[Vins]

If you're happy with the monthly payments and you like the spec, there's no need to hesitate! Get it collected tomorrow

 

[Jassyo06]

have you looked at leasing one over two years??

personal lease is not a road l would go down again especially on a high spec car
Your getting no return whatsoever l will be in the black with my car come month 20
Over a 4 year pcp

 

[Jassyo06]

Yeah I've heard the S3 is one of the lowest depreciation cars.

Example
Retail price of my car £40k
After one year £26,200 with 10k miles on the clock over the next 3years it will finally reach roughly £18k

 

[Blackforce]

I know but I would have to wait all over again for a factory order.

Dealers on carwow with the biggest discounts sell a lot of cars so you might find they have lots of cars in the build queue already with one not too far away. Dealers that sell few cars have longer build times normally unless your lucky.

 

[Spikeysam]

I think I have the pcp idea wrong then. A lot of dealers say put in low deposit, but your going to be paying that money back in monthly payments anyway plus interest on the amount borrowed. If you pay a bigger deposit you borrow less and therefore the interest you pay is less.

In addition when you say go as low mileage as possible this effects the final payment for example if you say you do 6k miles a year for 3 years and the final payment is 20k, but you actually end up doing 10k a year, then when you PX the dealer could give you less than the final payment meaning you owe money?

I've done the following: s3 saloon 7k deposit 8k mileage a year 48 months £263 a month.

 

[Big Matt]

personal lease is not a road l would go down again especially on a high spec car
Your getting no return whatsoever l will be in the black with my car come month 20
Over a 4 year pcp

So how much does it cost you over two years, including deposit??

 

[Blackforce]

The mileage you choose for a pcp should match the miles you are going to do. If you select the lowest with the knowledge that you are going to be way over then you are just loosing equity in the car for the end.

Dealers will say that you don't pay the mileage fee unless you give the car back and walk away. This is right but if you go over the next deal they won't be able to give you as much discount as you would expect as they will take into account the extra miles.

 

[Jassyo06]

So how much does it cost you over two years, including deposit??

Av leased a car before. Basic spec yeah bargain you go and try and personal lease a £40 plus Audi S3 megabucks

 

[Soulboy]

Basically it's like this.......

In the old days people would take out a loan or hp and purchase the car, over say 3 years. It was expensive, but you owned it at the end of the term.

Nowadays, it's low deposit and monthly payments and not much equity......which is then rolled over to next car.

Effectively people are renting their cars to a greater or lesser extent.....and it enables people to get a more expensive car.

Nothing wrong with it (do it myself) but ultimately when your income eventually drops (eg retirement) you give the car back and use your £3k equity to buy a Nissan Micra.
On the old basis, you would retire with your fully paid for car.

Just worth bearing in mind. If you can afford to get extra equity all along the line, it may pay dividends long term.

 

[Soulboy]

Loan/HP = Repayment mortgage

PCP = interest only mortgage

Lease = renting.

......in my head anyway.

 

[Big Matt]

Av leased a car before. Basic spec yeah bargain you go and try and personal lease a £40 plus Audi S3 megabucks

Very true, got mine for £260 fully maintain 6 over 23, Did you really pay £40k for an S3??

 

[Jassyo06]

Very true, got mine for £260 fully maintain 6 over 23, Did you really pay £40k for an S3??

No that was rrp, after discount £36ish can't really or want to remember lol

 

[NatalieBx]

personal lease is not a road l would go down again especially on a high spec car
Your getting no return whatsoever l will be in the black with my car come month 20
Over a 4 year pcp

So what do you recommend doing?

 

[NatalieBx]

The mileage you choose for a pcp should match the miles you are going to do. If you select the lowest with the knowledge that you are going to be way over then you are just loosing equity in the car for the end.

Dealers will say that you don't pay the mileage fee unless you give the car back and walk away. This is right but if you go over the next deal they won't be able to give you as much discount as you would expect as they will take into account the extra miles.

Even if it's a completely different dealer?

 

[Blackforce]

Even if it's a completely different dealer?

Yes. When you sign a pcp you have a final value of the car given to you. The amount the car will be worth based on the mileage you give.

So if you commit to 10k miles a year over a 36 month pcp they are working out the price of your car in 3 years with 30k miles on the clock.

When you go in to change car. Whichever dealer you go to will look at the final value on your paperwork and then work out your cars actual value based on its current mileage. If you were to bring it back in with 50k on the clock then it's worth less to them.

This extra cost has to be catered for somewhere in the next deal. They don't just say oh well let's still give this person a cracking deal.

Obviously there will be some slack. I find though that most dealers will try and undersell you on mileage just to get you the cost per month down and bank on you having to deal with it later. I would rather pay a bit more a month and be accurate and then "potentially" have more equity.

 

[NatalieBx]

Yes. When you sign a pcp you have a final value of the car given to you. The amount the car will be worth based on the mileage you give.

So if you commit to 10k miles a year over a 36 month pcp they are working out the price of your car in 3 years with 30k miles on the clock.

When you go in to change car. Whichever dealer you go to will look at the final value on your paperwork and then work out your cars actual value based on its current mileage. If you were to bring it back in with 50k on the clock then it's worth less to them.

This extra cost has to be catered for somewhere in the next deal. They don't just say oh well let's still give this person a cracking deal.

Obviously there will be some slack. I find though that most dealers will try and undersell you on mileage just to get you the cost per month down and bank on you having to deal with it later. I would rather pay a bit more a month and be accurate and then "potentially" have more equity.

Thanks for telling me this, I never thought it would affect the next car but obviously it does and it's always good to plan ahead. It's completely changed my thoughts and now I'm thinking of going back to the original car I ordered (A3 rather than S3) it's cheaper and it has a higher mileage that I'm more likely to stick to.

 

[Blackforce]

If you work out the excess mile rate for 10,000 miles it's About £700. If you add 10,000 miles in total to your pcp allowance it roughly adds this amount to your payments over the course.

Don't take my advice though I am new to all this as well loads of pitfalls. I just find Audi dealers well dodgy. Just put everything off to the end!!

Pick up my first Audi tomorrow at 5pm it's only a a3 sport but well chuffed to get one.

I am not a car fanatic like most. Mainly just for work.

 

[Sandra]

If you work out the excess mile rate for 10,000 miles it's About £700. If you add 10,000 miles in total to your pcp allowance it roughly adds this amount to your payments over the course.

Don't take my advice though I am new to all this as well loads of pitfalls. I just find Audi dealers well dodgy. Just put everything off to the end!!

Pick up my first Audi tomorrow at 5pm it's only a a3 sport but well chuffed to get one.

I am not a car fanatic like most. Mainly just for work.

You enjoy your new car collection tomorrow. x

 

[MA3RC]

If you work out the excess mile rate for 10,000 miles it's About £700. If you add 10,000 miles in total to your pcp allowance it roughly adds this amount to your payments over the course.

Don't take my advice though I am new to all this as well loads of pitfalls. I just find Audi dealers well dodgy. Just put everything off to the end!!

Pick up my first Audi tomorrow at 5pm it's only a a3 sport but well chuffed to get one.

I am not a car fanatic like most. Mainly just for work.

Be sure to upload some pictures as well

 

[DrEskimo]

It doesn't affect the next car really. You want to negotiate the discount on your next car separately from your P/X price anyway. Far too easy for them to confuse the two numbers and give you a poor deal. Its pointless getting a good discount when they offer a poor p/x. It's the same as a poor discount and poor p/x....

The lower amount you get at the end is offset by the lower monthly payments you were paying over the term. You are going to be paying exactly the same overall. Its just how you want to pay it. Same with putting a higher deposit to get cheaper monthlies (although in that case it is slightly cheaper as you are paying slightly less interest, but not enough to get excited about...). As said, don't expect to get a low monthly payment and then a bit extra in 'equity' at the end! Its either one or the other!

If you are happy with the deposit + monthly payments then go for it. View any 'equity' at the end as a bonus, but typically you can expect a little bit at the end.

If its any consolation I went back and forth constantly when I put my order in. Thought it was daft and I was going to get into trouble and end up with a car I cant afford...still don't know if that doubt has gone away yet, and will likely only know the full extent of how much money I wasted at the end of the deal, but loving the car and can stomach the cost, so all good!