UK Market RS3 and PCP

[D44RN]

Yes exactly.

It doesn't make a huge amount of difference how much deposit you put down on a PCP, but does increase the interest.

So you could put down just £5k, and have monthlies of £520, which is similar to the loan. The amount of interest you pay goes up further though (as you are borrowing £15k more) to about £7,500.

I just used a PCP with £20k deposit in my example to make it similar to the loan, where you used £20k of your own money and borrowed £25k.

Cool- so for me personally i have concluded the following options:

1: Use PCP and be prepared to pay lots of interest with only approx 8-10k upfront.
2. Look at a personal loan for approx £40k with high repayments but less interest overall.
3. Look at a lease and try to accept there will be NO OPTIONS.(without a price hike)
4. Look at a used PFL Rs3 only if i can come to terms with a sportback.
5. Forget the RS3 and consider an alternative car.(with a heavy heart but almost certainly a heavier back pocket)

Seems i cant follow my head and heart both at the same time......

 

[dunes7]

3. Look at a lease and try to accept there will be NO OPTIONS

Go for Option 3, accept the base car (which will still blow your socks off!!), drive it like ya stole it, keep an eye on your finances and then at the end of the lease give it back. Then hopefully you'll be in much better financial situation in 3yrs time and you get the next generation of RS3 and spec it up to high heaven

Or you could listen to others who might give you much better advice

 

[DrEskimo]

Cool- so for me personally i have concluded the following options:

1: Use PCP and be prepared to pay lots of interest with only approx 8-10k upfront.
2. Look at a personal loan for approx £40k with high repayments but less interest overall.
3. Look at a lease and try to accept there will be NO OPTIONS.(without a price hike)
4. Look at a used PFL Rs3 only if i can come to terms with a sportback.
5. Forget the RS3 and consider an alternative car.(with a heavy heart but almost certainly a heavier back pocket)

Seems i cant follow my head and heart both at the same time......

The lease is OK, but it's not that big of a saving IMO. Still very expensive!

When you factor in the added flexibility of a PCP, and the fact you could trade/sell the car for a bit more than the GFV, the difference is really quite negligible. You can also add options with no increase in monthlies by just adding the cost to the upfront payment.

It would have to be considerably cheaper for me to look at it personally.

If you want to save money, go for a loan, but £40k is a hell of a loan! I mean the PCP will count as a loan for the full amount borrowed, but it's secured on the car. Not sure I would be comfortable borrowing more than £25k for a car....

But then, I'm being very sensible, so I'm not a fun person to ask....! Just done my first and last PCP on my S5. It was fun, but wasn't worth the cost IMO. Selling it now and won't be getting another car while I commute to London. I've stuck all my money in my property...so will wait till I save a bit and get a decent used car when I need it again, which probably won't be for many years now.

 

[D44RN]

The lease is OK, but it's not that big of a saving IMO. Still very expensive!

When you factor in the added flexibility of a PCP, and the fact you could trade/sell the car for a bit more than the GFV, the difference is really quite negligible. You can also add options with no increase in monthlies by just adding the cost to the upfront payment.

It would have to be considerably cheaper for me to look at it personally.

If you want to save money, go for a loan, but £40k is a hell of a loan! I mean the PCP will count as a loan for the full amount borrowed, but it's secured on the car. Not sure I would be comfortable borrowing more than £25k for a car....

But then, I'm being very sensible, so I'm not a fun person to ask....! Just done my first and last PCP on my S5. It was fun, but wasn't worth the cost IMO. Selling it now and won't be getting another car while I commute to London. I've stuck all my money in my property...so will wait till I save a bit and get a decent used car when I need it again, which probably won't be for many years now.

Thank you- and to all others for your views. I must say that in the cold light of day, i will have to listen to my head. The heart is used to not getting what it wants so will cope. However, as a sweetner i will keep it warm until its big five O in 2020 and hopefully i will be in prime position to acquire the latest model of the RS3 then. However, if the head somehow loses control before then i will be sure to post my pics on this forum with great pleasure!!! Peace and love yall.

 

[dunes7]

Thank you- and to all others for your views. I must say that in the cold light of day, i will have to listen to my head. The heart is used to not getting what it wants so will cope. However, as a sweetner i will keep it warm until its big five O in 2020 and hopefully i will be in prime position to acquire the latest model of the RS3 then. However, if the head somehow loses control before then i will be sure to post my pics on this forum with great pleasure!!! Peace and love yall.

I'm sorry to hear its on hold then, but no way did I want to see you get into financial difficulties.

 

[D44RN]

Alas....back to the drawing board

 

[ice_cube99]

I asked for a lease quote on the saloon, and to be fair it's a good quote and seriously tempted, only thing I would need to do is try and sell mine privately before the estimate arrival time which is early Jan...

Quoted £515 inc vat
4.5k down
4 years

Spec is nardo saloon
Black pack
Privacy glass
Red calipers
Sports exhaust

Pretty basic yes, however more than enough to enjoy the car. But 4 years is a long time...

Temped. But maybe better option would be to pick up a second hand one in a year/year and half time... with better spec.

 

[D44RN]

I asked for a lease quote on the saloon, and to be fair it's a good quote and seriously tempted, only thing I would need to do is try and sell mine privately before the estimate arrival time which is early Jan...

Quoted £515 inc vat
4.5k down
4 years

Spec is nardo saloon
Black pack
Privacy glass
Red calipers
Sports exhaust

Pretty basic yes, however more than enough to enjoy the car. But 4 years is a long time...

Temped. But maybe better option would be to pick up a second hand one in a year/year and half time... with better spec.

Looks ok but its still approx £29k over the term and not far off what i worked out on PCP with a lot more options...

 

[BarryG79]

Only issue with a 4 year lease is that the Audi warranty is only 3 years. Only option is to pay for extend warranty or take the chance and possibly pay to fix something that you will never own.


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[ice_cube99]

Only issue with a 4 year lease is that the Audi warranty is only 3 years. Only option is to pay for extend warranty or take the chance and possibly pay to fix something that you will never own.


Sent from my iPhone using Tapatalk

Yes there is that also. Maybe it's just the temptation of bigger and better.

 

[akeithj]

I wonder which dealers are supplying the brokers and a delivery date of Jan 18 seems very quick. Up North this years entire allocation was sold out at the start of last month and they are now quoting July 18 delivery dates if ordered now. I was also told that saloon vs sportback production was 30/70. I can only assume RS3 must not be as popular in other area of the UK.

 

[Leo-RS]

I asked for a lease quote on the saloon, and to be fair it's a good quote and seriously tempted, only thing I would need to do is try and sell mine privately before the estimate arrival time which is early Jan...

Quoted £515 inc vat
4.5k down
4 years

Spec is nardo saloon
Black pack
Privacy glass
Red calipers
Sports exhaust

Pretty basic yes, however more than enough to enjoy the car. But 4 years is a long time...

Temped. But maybe better option would be to pick up a second hand one in a year/year and half time... with better spec.

Yes, 4yr is a long time to be tied down to anything but particularly hard when you are contracted by a lease payment as you have no option but to ride it out, you're liable for those 48 payments. PCP, you could sell after a month if you really wished and be done with it.

For that reason, there's not a hope in hell I'd take a 4yr lease on anything, 3yrs at a max but more than likely 2yr term preferable.

Where did you find this quote and over what mileage? 5000? That's £2500 worth of options added to the lease so naturally you would have to pay £2500/48 for them = £52pm. Does this mean the basic Saloons with no options are coming in at £460pm?
Seems cheap unless it's over something like 5k?

 

[ice_cube99]

Yes, 4yr is a long time to be tied down to anything but particularly hard when you are contracted by a lease payment as you have no option but to ride it out, you're liable for those 48 payments. PCP, you could sell after a month if you really wished and be done with it.

For that reason, there's not a hope in hell I'd take a 4yr lease on anything, 3yrs at a max but more than likely 2yr term preferable.

Where did you find this quote and over what mileage? 5000? That's £2500 worth of options added to the lease so naturally you would have to pay £2500/48 for them = £52pm. Does this mean the basic Saloons with no options are coming in at £460pm?
Seems cheap unless it's over something like 5k?

It's with the company above:
It's a business lease (should have stated above)

8000 miles a year
The dep includes vat also

Rohit

 

[wab172uk]

Thank you- and to all others for your views. I must say that in the cold light of day, i will have to listen to my head. The heart is used to not getting what it wants so will cope. However, as a sweetner i will keep it warm until its big five O in 2020 and hopefully i will be in prime position to acquire the latest model of the RS3 then. However, if the head somehow loses control before then i will be sure to post my pics on this forum with great pleasure!!! Peace and love yall.

Can't see a new RS3 being out by 2020.

New A3 release 2019
S3 release 12-18 months later
RS3 release 12-18 months after the S3

RS3 2001/2002 at the earliest

Would expect the next S3 to be around 350bhp and RS3 around 450bhp.

 

[Leo-RS]

Audi have started bringing out A/S together. There's no sequence to their release points either.

Take the new RS5 for example, the new A5 hasn't been out long at all. RS5's were only 6 months behind A5's.

 

[dunes7]

Would expect the next S3 to be around 350bhp and RS3 around 450bhp.

I wouldn't be surprised if we have seen the peak of the hot hatchback wars with the FL version of the RS3 and its competitors (AMG A45). The manufacturers came into this lower market place after the battles for supremacy in the upper market saloon car class (RS6, AMG E-Class) became too outlandish. I think by the time of the next RS3, it'll be about the same performance but more efficiently.

 

[D44RN]

I wouldn't be surprised if we have seen the peak of the hot hatchback wars with the FL version of the RS3 and its competitors (AMG A45). The manufacturers came into this lower market place after the battles for supremacy in the upper market saloon car class (RS6, AMG E-Class) became too outlandish. I think by the time of the next RS3, it'll be about the same performance but more efficiently.

Ala Hybrid.

 

[Simonb1975]

Cool- so for me personally i have concluded the following options:

1: Use PCP and be prepared to pay lots of interest with only approx 8-10k upfront.
2. Look at a personal loan for approx £40k with high repayments but less interest overall.
3. Look at a lease and try to accept there will be NO OPTIONS.(without a price hike)
4. Look at a used PFL Rs3 only if i can come to terms with a sportback.
5. Forget the RS3 and consider an alternative car.(with a heavy heart but almost certainly a heavier back pocket)

Seems i cant follow my head and heart both at the same time......

Option 5. Keep cash in pocket. It's a facelift model. 4-5 years it'll be old hat.

 

[D44RN]

Option 5. Keep cash in pocket. It's a facelift model. 4-5 years it'll be old hat.

I sense a bit of good advice here mixed in with more than a hint of irony and sarcasm....

 

[D44RN]

Just a little comparison before I finally put this matter to bed. I know, I know, you thought I already had but boys will be boys and this old boy is still young at heart( and in the head it seems)

RS 3 saloon LEASE
£449.85x 35 = £15,744.75
£5398.20 deposit
£180 fee
Options £3700 divided over 35 months = £105.71
Total cost per month= £555.56
Total cost of lease over 3 years=£25,022.95

RS 3 saloon PCP but with NO OPTIONS
£555.06 x 35 = £19,427.10
£5400 deposit
+£900 road tax in years 2 and 3
Total cost of PCP over 3 years = £25,727.10

So in effect, by leasing in the example above, you are paying £704.15 less compared to PCP as well as driving the lease car with £3700 options included. If you have NO intention of ever buying the car then I guess it's a no brainier......or is it....

 

[Leo-RS]

Are you comparing apples and apples? Both 10k mile per annum? Both same deposit? You can get a small discount through Broadspeed, perhaps a bigger one through your local dealer.

You hand the car back at end of lease but have options with a PCP. You also have the possibility of equity in the PCP.

Lease is firm, you're stuck with the vehicle, PCP is not, there's a lot more flexibility. How does insurance work with Lease? Is it more expensive seeing the car has a different registered keeper? What about additional mileage charges and lease charges on handback? Inspection for damage, kerbed wheels etc etc.

Also, where are you seeing a 12+35 deal on a £450pm 10k mile plan?

I see a £504pm / £4540 plan on G2L but that's a 35 + 9. When you change it to 35+12 it just says call to quote.

It does seem the cheaper way to do it perhaps but I wonder what the lead times are like, where the dealer is in the UK etc. You also have to factor that in against your cost comparisons. Do lease cars get delivered to your local dealer, delivered to you or do you need to go fetch them from a dealer at the opposite end of the country?

 

[D44RN]

Are you comparing apples and apples? Both 10k mile per annum?
8k for lease v 10k PCP

Both same deposit? Yes

You can get a small discount through Broadspeed, perhaps a bigger one through your local dealer.
My local dealer said no chance

You hand the car back at end of lease but have options with a PCP. You also have the possibility of equity in the PCP. Sure, I understand.

Lease is firm, you're stuck with the vehicle, PCP is not, there's a lot more flexibility.
Agreed.

How does insurance work with Lease?
Same in my experience.

Is it more expensive seeing the car has a different registered keeper?
Not in my experience.

What about additional mileage charges and lease charges on handback?
9ppm lease v 11ppm PCP

Inspection for damage, kerbed wheels etc etc.
Standard process in my experience- i.e. Fair wear and tear etc

Also, where are you seeing a 12+35 deal on a £450pm 10k mile plan?

personal quote.

TBH I can see pros and cons of both a bit more clearly now especially with the responses on this thread so thanks.
I'm not saying which is best but I thought I would share just to show as a comparison.

 

[D44RN]

Sorry but I put my responses in the quote above.
I'm pretty sure they can deliver to your door but would have to ask.
Correction- ppm is the same I believe with vat so 11ppm at 10k with the lease would be £220 extra per year x3 years = £660 so if you need 10k miles it would take off the saving above but still there is that matter of the extra options. Either way, it may suit some but may not for a lot of others with totally different acquisition criterias I guess.

 

[akeithj]

I can provide some insight into leasing having lease about 8 cars over the last few years, initially through brokers, both my M3 and current car were leased directly from the dealership and I received the same level of service that I would have expected had I been buying the car. In the case of the M3, they would have delivered it to my door on a covered trailer, or covered my expenses to go and collect the car, which is the option I chose.
Depending on the company providing the finance for the lease you can adjust your mileage within the first few months, the cost for excess mileage will probably be the same as per PCP.

 

[DrEskimo]

I can provide some insight into leasing having lease about 8 cars over the last few years, initially through brokers, both my M3 and current car were leased directly from the dealership and I received the same level of service that I would have expected had I been buying the car. In the case of the M3, they would have delivered it to my door on a covered trailer, or covered my expenses to go and collect the car, which is the option I opted for.
Depending on the company providing the finance for the lease you can adjust your mileage within the first few months, the cost for excess mileage will probably be the same as per PCP.

Have you ever had to end a lease early akeithj?

That's the only area I'm worried about with a lease, and there doesn't seem too much information out there about the process and cost involved?

 

[Leo-RS]

Have you ever had to end a lease early akeithj?

That's the only area I'm worried about with a lease, and there doesn't seem too much information out there about the process and cost involved?

I have always presumed it was like a mobile phone/BT/Sky type of contract where you were liable for the whole term with no way other than to pay the remaining term should you wish to cancel early. No idea what this means for you in terms of unemployment or ill health etc and I have also read some horror stories across on Pistonheads of leases and cars being stolen (Audi RS's are a magnets for thieves these days)

With a high probability of the RS3 maintaining good residuals, I would have thought the PCP in this case was the better option overall.

The RS3 needs a good £5k of options to make it feel a little more special. A highly specced S3 would be a better place to be than a no optioned bog standard RS3 (in my opinion)

 

[DrEskimo]

I have always presumed it was like a mobile phone/BT/Sky type of contract where you were liable for the whole term with no way other than to pay the remaining term should you wish to cancel early. No idea what this means for you in terms of unemployment or ill health etc and I have also read some horror stories across on Pistonheads of leases and cars being stolen (Audi RS's are a magnets for thieves these days)

With a high probability of the RS3 maintaining good residuals, I would have thought the PCP in this case was the better option overall.

The RS3 needs a good £5k of options to make it feel a little more special. A highly specced S3 would be a better place to be than a no optioned bog standard RS3 (in my opinion)

Yea....if that's the case I would never consider a 4yr lease on a car like the RS3! Running costs can very quickly get out of control, particularly out of warranty!

It would have to be a very good deal over 2yrs. Something like those ridiculous Golf R leases, which were like £1200 down and £200 per month of something stupid like that!

I think justifying £50k worth of car is always an uphill struggle, let's be honest

 

[akeithj]

I have not had to end a lease early and having used a few companies I do not believe this is an option. With the likes of BMW financial services they will allow you to extend your lease informally for up to three months. I have returned a car early, by about six weeks because we were going to be out of the country, but all of the payments had been made.
Leasing can be great, particularly if your chosen car depreciates quickly and there is a deal available, most of the cars I have leased have fallen into this category. I do however agree with Leo, if the car is in demand and has strong residuals buying is the best option, that's why it's surprising that these lease deals are appearing for RS3. M2 has been out for a couple of years now and is at a similar price point but you will be lucky to get a 6x35 10k per annum PCH deal for less than £700 per month inc vat.

 

[D0C]

Usually, after the first year of a lease you can cancel and are liable for 55% of the remaining payments.

 

[AudiNutta]

I can provide some insight into leasing having lease about 8 cars over the last few years, initially through brokers, both my M3 and current car were leased directly from the dealership and I received the same level of service that I would have expected had I been buying the car. In the case of the M3, they would have delivered it to my door on a covered trailer, or covered my expenses to go and collect the car, which is the option I chose.
Depending on the company providing the finance for the lease you can adjust your mileage within the first few months, the cost for excess mileage will probably be the same as per PCP.

Damn you're lucky, can't even get my dealer to transport the RS an hour down the road! Getting 0% discount too.

 

[akeithj]

AudiNutta, that's very poor service in my opinion, for the M3 it was offered as part of the deal, no haggling or anything required. On the RS3 I did not get any discount but the dealer is going to take my car straight to a detailer for new car prep and paint protection, again I just asked and the service was offered.

 

[AudiNutta]

AudiNutta, that's very poor service in my opinion, for the M3 it was offered as part of the deal, no haggling or anything required. On the RS3 I did not get any discount but the dealer is going to take my car straight to a detailer for new car prep and paint protection, again I just asked and the service was offered.

Thank you, somebody who agrees!! I've literally begged, they don't have to do anything but PDI it. I want ALL the wrappers left on it, then my detailer is literally an hour down the road. When I asked I just had the salesman chuckle in my face, he asked his manager and they said providing all the finance is signed they are happy for me to arrange my own transport at my own cost! They said they would get their transport company to contact me, they never did.. when I complained, they didn't acknowledge that at all.

I really don't think it's a lot to ask, yes I paid full price because it's a sort after car but they have a big margin in that car and they don't even have to peel the wrappers off of it yet still won't transport it. Not sure where to go with it really, sales manager didn't want to know. Covered transport will cost me £220.

I asked for the car to go back to Audi for a handover after and they said they would rather not see it again. Because they said once it's detailed they don't want and I'm quoting "hundreds" of people with their hands all over it because it's an RS. I am still shocked they told me that, the car should be buried out of sight of customers detailed or not and their staff should know better.

 

[Simonb1975]

I sense a bit of good advice here mixed in with more than a hint of irony and sarcasm....

Good advice and some facts. Although I rarely spend money on good advice and I guess the heart rules on car matters

 

[D44RN]

Thank you, somebody who agrees!! I've literally begged, they don't have to do anything but PDI it. I want ALL the wrappers left on it, then my detailer is literally an hour down the road. When I asked I just had the salesman chuckle in my face, he asked his manager and they said providing all the finance is signed they are happy for me to arrange my own transport at my own cost! They said they would get their transport company to contact me, they never did.. when I complained, they didn't acknowledge that at all.

I really don't think it's a lot to ask, yes I paid full price because it's a sort after car but they have a big margin in that car and they don't even have to peel the wrappers off of it yet still won't transport it. Not sure where to go with it really, sales manager didn't want to know. Covered transport will cost me £220.

I asked for the car to go back to Audi for a handover after and they said they would rather not see it again. Because they said once it's detailed they don't want and I'm quoting "hundreds" of people with their hands all over it because it's an RS. I am still shocked they told me that, the car should be buried out of sight of customers detailed or not and their staff should know better.

And I thought it was just VW who gave poor service.....oh but of course....it is VW....

 

[D44RN]

Good advice and some facts. Although I rarely spend money on good advice and I guess the heart rules on car matters

Yes true....almost always...