Audi S5 on finance, help please guys!
Discussion
Guys, I really want an S5 coupe but need you to tell me I’m being daft here...
I went a petrol engine as I only do 5k miles (station runs combined with some motorway driving) a year and was considering the 440i before this...
Anyway the used market is too high for an outright purchase and I went to Audi today to speak finance for a vehicle.
Best offer on one of their stock vehicles worth 55k (blue, comfort/sound package, VC, privacy glass, sunroof) they were going to make a 9k dealer contribution with 6.5k down from me and payments at £600 a month over three and a half years. Just over 4% APR. This would also include key, paint protection + gap insurance.
I’m currently paying £350/month for a c250d AMG due to expire end of January 2019 and will be about 12,000 miles shy of agreed mileage when I do. Oh dear I know!
Given my mileage and want for the s5, any recommendations on How/what to do? My original budget was about 20k for a used vehicle but as daft as it sounds, it isn’t getting me near what I want!!
Thanks in advance.
I went a petrol engine as I only do 5k miles (station runs combined with some motorway driving) a year and was considering the 440i before this...
Anyway the used market is too high for an outright purchase and I went to Audi today to speak finance for a vehicle.
Best offer on one of their stock vehicles worth 55k (blue, comfort/sound package, VC, privacy glass, sunroof) they were going to make a 9k dealer contribution with 6.5k down from me and payments at £600 a month over three and a half years. Just over 4% APR. This would also include key, paint protection + gap insurance.
I’m currently paying £350/month for a c250d AMG due to expire end of January 2019 and will be about 12,000 miles shy of agreed mileage when I do. Oh dear I know!
Given my mileage and want for the s5, any recommendations on How/what to do? My original budget was about 20k for a used vehicle but as daft as it sounds, it isn’t getting me near what I want!!
Thanks in advance.
A couple of questions to feel this out a bit
Would you be wanting all those options?
I'm assuming the finance deal is a PCP which would leave you with a final payment to purchase the car outright (approximate worth at the end of the 42 months) - I would ballpark this at £20k. Would you be making this payment at the end?
Are you only after new/nearly new? You can pick up decent examples of the previous generation for £23k outright which would be less than you're paying in deprecation on the PCP over those 42 months by almost 10k (You'd be paying £31,700 ish over 42 months).
Would you be wanting all those options?
I'm assuming the finance deal is a PCP which would leave you with a final payment to purchase the car outright (approximate worth at the end of the 42 months) - I would ballpark this at £20k. Would you be making this payment at the end?
Are you only after new/nearly new? You can pick up decent examples of the previous generation for £23k outright which would be less than you're paying in deprecation on the PCP over those 42 months by almost 10k (You'd be paying £31,700 ish over 42 months).
Lower your expectations or earn more!
Sometimes you can't have what you want.
It's called compromise.
Seriously, it seems a low APR but do you really need to spend £55k on a car?
Is there nothing you want for £20k? Maybe £30k?
Start a thread on here and I'm sure you'll get suggestions you've never thought of.
After saying all that, it's your money (well, the finance companies) so do what you want with it.
Sometimes you can't have what you want.
It's called compromise.
Seriously, it seems a low APR but do you really need to spend £55k on a car?
Is there nothing you want for £20k? Maybe £30k?
Start a thread on here and I'm sure you'll get suggestions you've never thought of.
After saying all that, it's your money (well, the finance companies) so do what you want with it.
6.5k upfront + (42 x £600) = £31700
There are 80+ 440is on auto trader at the moment, some top spec ones with less than 10k miles listed for less than £31700.
I personally would go down that route, with a personal loan to bridge the gap between the cost and what you have already. Failing that, I'd go the hire purchase route but be prepared to haggle with BMW over the interest rate. My MCS is on hire purchase through BMW Financial Services and they did move on the interest rate despite it being 2nd hand.
The S5 is a lovely car, but I personally don't think its worth that much more over the 440i - bearing in mind there would still be a balloon to pay on the Audi, however you would own the BMW outright at the end of the agreement for the same if not lower monthly payments.
There are 80+ 440is on auto trader at the moment, some top spec ones with less than 10k miles listed for less than £31700.
I personally would go down that route, with a personal loan to bridge the gap between the cost and what you have already. Failing that, I'd go the hire purchase route but be prepared to haggle with BMW over the interest rate. My MCS is on hire purchase through BMW Financial Services and they did move on the interest rate despite it being 2nd hand.
The S5 is a lovely car, but I personally don't think its worth that much more over the 440i - bearing in mind there would still be a balloon to pay on the Audi, however you would own the BMW outright at the end of the agreement for the same if not lower monthly payments.
The 440i is a great car; I've had a Gran Coupe on PCP since May, done almost 6k miles so far.
I was lucky enough to get mine while there were huge discounts and 0% APR. £5k down then £400/month for 4 years, 15k miles / year.
Had the MPPSK installed which makes it LOUD and increases the output to 360bhp/500NM ... But even at its cheapest that's a £1700 dealer fit extra.
Looked at the S5 but it was significantly more expensive, and way thirstier than the 440i. I do 15k/year, so that mattered to me more than it would do for yourself.
I was lucky enough to get mine while there were huge discounts and 0% APR. £5k down then £400/month for 4 years, 15k miles / year.
Had the MPPSK installed which makes it LOUD and increases the output to 360bhp/500NM ... But even at its cheapest that's a £1700 dealer fit extra.
Looked at the S5 but it was significantly more expensive, and way thirstier than the 440i. I do 15k/year, so that mattered to me more than it would do for yourself.
Its a lot of money, but maybe you earn a lot of money so that might not be a problem. I do find it odd though that you would get a 20k used car or 55k new car?
Biggest thing for me is the 5k miles, although obviously you can go over than and pay per mile, I'd rather have it higher to start. I personally only work a couple of miles away, but I bet i'll still do 9-10k this year.
Biggest thing for me is the 5k miles, although obviously you can go over than and pay per mile, I'd rather have it higher to start. I personally only work a couple of miles away, but I bet i'll still do 9-10k this year.
Hi there
No definitely not but there was limited availability. Only things I really wanted were blue or grey exterior colour, the virtual cockpit and the B&O system. Not bothered about any other options.
Also correct this would be PCP and balloon at £20k, doubt I would outright purchase.
Ideally I’d want the new S5 but a used version as it would cost less over the long term.... I’m not a fan of the previous gen tbh especially the interiors.
No definitely not but there was limited availability. Only things I really wanted were blue or grey exterior colour, the virtual cockpit and the B&O system. Not bothered about any other options.
Also correct this would be PCP and balloon at £20k, doubt I would outright purchase.
Ideally I’d want the new S5 but a used version as it would cost less over the long term.... I’m not a fan of the previous gen tbh especially the interiors.
mholt1995 said:
A couple of questions to feel this out a bit
Would you be wanting all those options?
I'm assuming the finance deal is a PCP which would leave you with a final payment to purchase the car outright (approximate worth at the end of the 42 months) - I would ballpark this at £20k. Would you be making this payment at the end?
Are you only after new/nearly new? You can pick up decent examples of the previous generation for £23k outright which would be less than you're paying in deprecation on the PCP over those 42 months by almost 10k (You'd be paying £31,700 ish over 42 months).
Would you be wanting all those options?
I'm assuming the finance deal is a PCP which would leave you with a final payment to purchase the car outright (approximate worth at the end of the 42 months) - I would ballpark this at £20k. Would you be making this payment at the end?
Are you only after new/nearly new? You can pick up decent examples of the previous generation for £23k outright which would be less than you're paying in deprecation on the PCP over those 42 months by almost 10k (You'd be paying £31,700 ish over 42 months).
5k a year?
Buy an older car, a nice classic maybe that will not depreciate at all and maybe go up.
Or, get taxis to the station and a hire car for the motorway trips. It would be a lot cheaper than dropping over 30k on a new Audi.
Unless you are loaded of course and just fancy an S5, then just get what you want.
Buy an older car, a nice classic maybe that will not depreciate at all and maybe go up.
Or, get taxis to the station and a hire car for the motorway trips. It would be a lot cheaper than dropping over 30k on a new Audi.
Unless you are loaded of course and just fancy an S5, then just get what you want.
GreatGranny said:
https://www.autotrader.co.uk/classified/advert/201...
https://www.autotrader.co.uk/classified/advert/201...
https://www.autotrader.co.uk/classified/advert/201...
https://www.autotrader.co.uk/classified/advert/201...
Those are some great options for around 20khttps://www.autotrader.co.uk/classified/advert/201...
https://www.autotrader.co.uk/classified/advert/201...
https://www.autotrader.co.uk/classified/advert/201...
OP its your money and if you can happily afford it and want then go for it.
However you've asked for opinions and it doesn't sound like your best option considering the 5K year motoring. Also Audi's aren't great value at the moment and although capable the S5 isn't the most exiting car to be spending £780 per month!!!!
If your going to buy this way I would personally look at the Jag XF V6S. 0% APR, large manufacturers and finance contributions at the moment and V6 S is a peach. With £2K deposit you will be looking around £650 pm on a pcp. The 300bhp awd is even less.
Both better drive and chassis than the Audi and much more exiting.
However you've asked for opinions and it doesn't sound like your best option considering the 5K year motoring. Also Audi's aren't great value at the moment and although capable the S5 isn't the most exiting car to be spending £780 per month!!!!
If your going to buy this way I would personally look at the Jag XF V6S. 0% APR, large manufacturers and finance contributions at the moment and V6 S is a peach. With £2K deposit you will be looking around £650 pm on a pcp. The 300bhp awd is even less.
Both better drive and chassis than the Audi and much more exiting.
Edited by Big GT on Saturday 20th October 07:55
thesyn said:
Those are some great options for around 20k
They are, that M3 for example, if the OP is going down the finance route a £20k personal loan of APR ~3.3% over 3 years would be £580/month and only cost about £1k in interest. And he owns the car after the 3 years, no ballon, no hand back Have you thought about leasing. S5 deals available today aren’t very good at all, however a BMW M4 is a fair bit cheaper than you’ve been quoted for the S5
https://leasing.com/independent-brokers/carleasesp...
Or M2 Competition
https://leasing.com/independent-brokers/v4b-ltd/bm...
Or 440i
https://leasing.com/main-dealers/halliwell-jones-w...
https://leasing.com/independent-brokers/carleasesp...
Or M2 Competition
https://leasing.com/independent-brokers/v4b-ltd/bm...
Or 440i
https://leasing.com/main-dealers/halliwell-jones-w...
Edit - numbers updated to reflect £20k final payment.
£ 55k less £9k from dealer = £ 46k, which looks a lot for a used car
You will have paid 41* £ 576.31 monthly = £ 23,628.71, which includes £4k of interest. (4% APR should be less than £600/month)
Plus deposit of £6,500
Plus final payment of £ 20,000
Total = £ 50,128.71
Value = £ 25,000 (final payment is usually about 20% below retail pricing).
Cost to own = £ 25,128.71 (which is £598 / month or £1.43 / mile)
BMW are discounting heavily at the moment. You can get a brand new 440i for £36k via online brokers. Residuals look similar and APR is 1.9%, so almost £3k interest saved
Big saving compared to the Audi deal and you would be the first owner.
£ 55k less £9k from dealer = £ 46k, which looks a lot for a used car
You will have paid 41* £ 576.31 monthly = £ 23,628.71, which includes £4k of interest. (4% APR should be less than £600/month)
Plus deposit of £6,500
Plus final payment of £ 20,000
Total = £ 50,128.71
Value = £ 25,000 (final payment is usually about 20% below retail pricing).
Cost to own = £ 25,128.71 (which is £598 / month or £1.43 / mile)
BMW are discounting heavily at the moment. You can get a brand new 440i for £36k via online brokers. Residuals look similar and APR is 1.9%, so almost £3k interest saved
Big saving compared to the Audi deal and you would be the first owner.
Edited by Elysium on Saturday 20th October 15:06
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