Audi A3 Lease or PCP - need another opinion
Discussion
Hi,
So i've been quoted the following two options:
Lease - Audi A3 Sport 30 tfsi Comfort + sound
8k miles a year
9+35 with maintenance
£233 approx a month
Options: met paint, wireless charge box and the 4 way lumbar support
Pcp equivalent £247 (2000 + 48 months)
Or
PCP Audi A3 35 tfsi Edition 1 comfort + sound
Met paint, wireless charge box
8k miles a year
£2.4k + £299 a month (48 month pcp)
I can afford both and i know the edition 1 has a bigger engine and 150hp as opposed to the 110 from the sport. But should i opt in for a pcp or should i consider something else entirely?
Insurance costs work out approx the same.
Thoughts appreciated,
Thank you,
So i've been quoted the following two options:
Lease - Audi A3 Sport 30 tfsi Comfort + sound
8k miles a year
9+35 with maintenance
£233 approx a month
Options: met paint, wireless charge box and the 4 way lumbar support
Pcp equivalent £247 (2000 + 48 months)
Or
PCP Audi A3 35 tfsi Edition 1 comfort + sound
Met paint, wireless charge box
8k miles a year
£2.4k + £299 a month (48 month pcp)
I can afford both and i know the edition 1 has a bigger engine and 150hp as opposed to the 110 from the sport. But should i opt in for a pcp or should i consider something else entirely?
Insurance costs work out approx the same.
Thoughts appreciated,
Thank you,
Option 1 costs you £10252 to have a car for 3 years (£3417 per year)
Option 2 costs you £16752 to have a car for 4 years (£4188 per year)
So the question is do you want the car for longer, do you want to pay circa 750 extra per year for the engine/trim and do you expect to return the car at the end.
Option 2 costs you £16752 to have a car for 4 years (£4188 per year)
So the question is do you want the car for longer, do you want to pay circa 750 extra per year for the engine/trim and do you expect to return the car at the end.
By shopping around for a lease or PCP quote, you will end up with the most competitively-priced way to run a new A3. Looking at those numbers, they compare well to - for example - buying an older A3 like mine.
The main issue will be whether you want any options and whether you will see out the full 3-4 year term of the agreement. In particular, ending a lease early is expensive as could be a PCP depending on several variables. Adding options, too, increases the cost.
Personally, I'd be attracted to the higher spec, higher power model. A PCP will also give you more options to buy out of the agreement if needs be. But you absolutely have to run the course of those 3-4 year deals to benefit from the cost advantages.
The main issue will be whether you want any options and whether you will see out the full 3-4 year term of the agreement. In particular, ending a lease early is expensive as could be a PCP depending on several variables. Adding options, too, increases the cost.
Personally, I'd be attracted to the higher spec, higher power model. A PCP will also give you more options to buy out of the agreement if needs be. But you absolutely have to run the course of those 3-4 year deals to benefit from the cost advantages.
The Cardinal said:
By shopping around for a lease or PCP quote, you will end up with the most competitively-priced way to run a new A3. Looking at those numbers, they compare well to - for example - buying an older A3 like mine.
The main issue will be whether you want any options and whether you will see out the full 3-4 year term of the agreement. In particular, ending a lease early is expensive as could be a PCP depending on several variables. Adding options, too, increases the cost.
Personally, I'd be attracted to the higher spec, higher power model. A PCP will also give you more options to buy out of the agreement if needs be. But you absolutely have to run the course of those 3-4 year deals to benefit from the cost advantages.
Thanks - yeah I'll have to sit down tonight and just work out what exactly i want to do and how long I'd want it forThe main issue will be whether you want any options and whether you will see out the full 3-4 year term of the agreement. In particular, ending a lease early is expensive as could be a PCP depending on several variables. Adding options, too, increases the cost.
Personally, I'd be attracted to the higher spec, higher power model. A PCP will also give you more options to buy out of the agreement if needs be. But you absolutely have to run the course of those 3-4 year deals to benefit from the cost advantages.
Muhziak said:
Hi - do you know where he got this deal from?
Thank you,
Leasing Options - https://www.leasingoptions.co.uk/car-leasing/audi/...Thank you,
joropug said:
Both seem bonkers expensive to me as an aside. For a fairly mainstream car.
A 3 year old one with a bank loan would be much more economical and hardly a risk.
Usually this would make sense, but there isn't a 3 year old new shape A3.A 3 year old one with a bank loan would be much more economical and hardly a risk.
A 3 year old one would be the previous generation, which whilst good (I had an 8V S3 Saloon) isn't the same car, or with the same aesthetics (which may be part of or most of the draw to the car as it stands).
paradigital said:
joropug said:
Both seem bonkers expensive to me as an aside. For a fairly mainstream car.
A 3 year old one with a bank loan would be much more economical and hardly a risk.
Usually this would make sense, but there isn't a 3 year old new shape A3.A 3 year old one with a bank loan would be much more economical and hardly a risk.
A 3 year old one would be the previous generation, which whilst good (I had an 8V S3 Saloon) isn't the same car, or with the same aesthetics (which may be part of or most of the draw to the car as it stands).
Edited by nickfrog on Thursday 15th October 20:00
Per month maybe, but you're paying off a loan and will have something after.
I get the point about new shape .
I don't know how this compares spec wise but:
http://www.autotrader.co.uk/classified/advert/2020...
3 years old with 11k mileage for £15000
£20 tax so doesn't really come into it
£15k loan with Tesco over 4 years = £331.74 pm
Which gives it an annual cost of £4000 per year for loan and car tax.
But...the biggest difference after 4 years you can sell it for what...9k?
Buying a new car will never be cheaper unless you're comparing PCP used to PCP new deals , I appreciate they are not necessarily cost effective.
I get the point about new shape .
I don't know how this compares spec wise but:
http://www.autotrader.co.uk/classified/advert/2020...
3 years old with 11k mileage for £15000
£20 tax so doesn't really come into it
£15k loan with Tesco over 4 years = £331.74 pm
Which gives it an annual cost of £4000 per year for loan and car tax.
But...the biggest difference after 4 years you can sell it for what...9k?
Buying a new car will never be cheaper unless you're comparing PCP used to PCP new deals , I appreciate they are not necessarily cost effective.
I guess it depends on how you value the newer car.
I concur that a used model will be, say, £4k cheaper over 3 years (excluding additional maintenance).
As I mentioned earlier, I have a 2014 A3. To be honest, I derive great satisfaction from it being my own and not something I need to pay for on a monthly basis... But the estimated saving of £1-1.5k per year over a brand new one is close enough for me to put my hands up and say that those deals look like a sound choice *if you are sure you will see out the full term of the lease*.
I concur that a used model will be, say, £4k cheaper over 3 years (excluding additional maintenance).
As I mentioned earlier, I have a 2014 A3. To be honest, I derive great satisfaction from it being my own and not something I need to pay for on a monthly basis... But the estimated saving of £1-1.5k per year over a brand new one is close enough for me to put my hands up and say that those deals look like a sound choice *if you are sure you will see out the full term of the lease*.
Yeah hasn't stopped me considering it, I just can't stomach the up front decision of committing yourself to spending 16k over 4 years to drive a car that you're going to hand the keys over to.
I currently drive a 10k 2013 Merc C220 diesel c204 AMG sport plus coupe, it looks the part, is economical to run and is likely to depreciate at circa 1k per annum although I got it for such a good price it's actually worth more now than when I bought it a year ago.
I just compare that, which to me is a far more desirable car despite the age against a new Audi A3 that costs 16k to drive for 4 years and, well....couldnt do it.
I would consider spending that much on a more performance or luxury car. I..e the Golf R / Leon Cupra deals
I currently drive a 10k 2013 Merc C220 diesel c204 AMG sport plus coupe, it looks the part, is economical to run and is likely to depreciate at circa 1k per annum although I got it for such a good price it's actually worth more now than when I bought it a year ago.
I just compare that, which to me is a far more desirable car despite the age against a new Audi A3 that costs 16k to drive for 4 years and, well....couldnt do it.
I would consider spending that much on a more performance or luxury car. I..e the Golf R / Leon Cupra deals
Is it a need or want? if it is want then do some man maths and get it done. Nobody can justify the purchase as its your money. I would agree that a lease is the pricier way out of the 2. PCP does sometimes mean you can have some residual left in the car for an upgrade if you look after the car and keep mileage lower than the term stated. For example, I returned my last 2 PCP cars with significantly lower mileage than planned and had 3k (roughly my initial deposit) at the end once the finance was close.
joropug said:
Per month maybe, but you're paying off a loan and will have something after.
I get the point about new shape .
I don't know how this compares spec wise but:
http://www.autotrader.co.uk/classified/advert/2020...
3 years old with 11k mileage for £15000
£20 tax so doesn't really come into it
£15k loan with Tesco over 4 years = £331.74 pm
Which gives it an annual cost of £4000 per year for loan and car tax.
But...the biggest difference after 4 years you can sell it for what...9k?
I think it would sell for £9k after 3 years, at best. So even if you prefer to ignore interest or opportunity cost (which I wouldn't), that would be around £140/month depreciation.I get the point about new shape .
I don't know how this compares spec wise but:
http://www.autotrader.co.uk/classified/advert/2020...
3 years old with 11k mileage for £15000
£20 tax so doesn't really come into it
£15k loan with Tesco over 4 years = £331.74 pm
Which gives it an annual cost of £4000 per year for loan and car tax.
But...the biggest difference after 4 years you can sell it for what...9k?
Compare that with a £228/month (£0 deposit) lease for a new A3 30 Sport in free black and suddenly things look a bit close considering that you get new consumables, a manufacturer warranty, just one cheap first service, no MOT etc etc...
Personally for an effective £30 difference (if no repairs are needed) I would go for the new lease as it removes repairs and depreciation uncertainty. And it's a new car, well at least to start with. I can see why others might see it differently, particularly for long ownership, but the "much more economical" doesn't really hold water in reality.
Edited by nickfrog on Sunday 18th October 12:42
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